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Floods in Johannesburg Johannesburg one of 3 cities to benefit from Suncasa project tackling climate threats
Published: 28 May 24
The Scaling Urban Nature-Based Solutions for Climate Adaptation in Sub-Saharan Africa (Suncasa), a new three-year project, will undertake watershed restoration and adaptation actions in Dire Dawa, Ethiopia; Kigali, Rwanda; and Johannesburg, South Africa. It is expected to reduce climate-fuelled flood risks and enhance the resilience of people in these three sub-Saharan African cities, while promoting gender equality and social inclusion and strengthening biodiversity protection.
A table and chairs in a boardroom Nedbank, Transnet mediation over swaps terminated
Published: 28 May 24
Mediation between financial services group Nedbank and State-owned Transnet, in respect of interest rate swap transactions (swaps) between the parties that took place in December 2015 and March 2016, and which have been widely reported in the media for many years, has ended after it became apparent that there is no likelihood of resolving the matter amicably despite extensive engagements, Nedbank informs in a statement. Nedbank says it participated in the mediation process, which was a confidential, facilitated negotiation, in an attempt to resolve the dispute between the parties amicably and to avoid potentially drawn-out and costly litigation, for both parties, over transactions which Transnet regards as tainted by corruption.
Oil and gas industry body shines spotlight on Angolan market
Published: 28 May 24
The African Energy Chamber (AEC) has highlighted the opportunities provided by Angola’s oil and gas industry. The Chamber points out that oil and gas forms the lynchpin of the Angolan economy and that, since 2017, it has been subject to “aggressive reform”. Since 2019, the country has been undertaking multiyear licensing rounds for offshore blocks for both oil and gas exploration and production, open to foreign enterprises. So far, this policy has seen the awarding of more than 27 such blocks. The most recent of these rounds saw 53 bids for 12 blocks in the Lower Congo and Kwanza basins. The AEC is particularly urging multinational exploration and production, and technology, companies to invest in Angola. The organisation points out that the West African country plans to keep its oil production running at 1.1-million barrels per day (bpd) until 2027. After that, production will be stepped up to more than 2-million bpd, to boost economic growth.
South African rand stable, national election looms South African rand stable, national election looms
Published: 28 May 24
The South African rand was stable in early trading on Tuesday, against a weaker dollar and ahead of a national election on Wednesday which could see the ruling party lose its majority for the first time in 30 years. At 07:09 GMT, the rand traded at 18.3725 against the dollar, around 0.1% stronger than its previous close.
China President Xi Jinping Post-Covid, China is back in Africa and doubling down on minerals
Published: 28 May 24
China's flagship economic cooperation program is bouncing back after a lull during the global pandemic, with Africa a primary focus, according to a Reuters analysis of lending, investment and trade data. Chinese leaders have been citing the billions of dollars committed to new construction projects and record two-way trade as evidence of their commitment to assist with the continent's modernisation and foster "win-win" cooperation.
PCC executive director Dr Crispian Olver Delayed coal decommissioning won’t ‘collapse our climate commitments’
Published: 27 May 24
The Presidential Climate Commission (PCC) is currently assessing the impact of South Africa’s decision to delay the decommissioning of the Hendrina, Grootvlei and Camden coal-fired power stations on the country’s Nationally Determined Contribution (NDC), which outlines the country’s decarbonisation goals. Eskom confirmed recently that Cabinet and board permission had been granted for the continued operation of the three power stations beyond their original decommissioning dates, owing to the ongoing shortage of supply and delays in adding new generation.
Hyland Europe, Middle East and Africa associate VP for sales Jean van Vuuren Internal digital content serves as repository of truth for AI in companies – Hyland
Published: 27 May 24
The current focus for businesses is to automate the ingestion and use of content, and to use the advent of AI to analyse it and create business value, Hyland Europe, Middle East and Africa associate VP for sales Jean van Vuuren has said. To ensure AI and generative AI (genAI) solutions generated content that could be trusted, knowing where the enterprise data was being sourced and its quality and security were important, he added during the Hyland Summit for clients and partners on May 16, in Houghton, Johannesburg.
Multimodal Inland Port Association launched
Published: 27 May 24
The Multimodal Inland Port Association (MIPA), which seeks to address a critical need in South Africa’s logistics landscape, was launched in South Africa last week. The association aims to act as the unified voice for inland ports across the nation, focusing on promoting, supporting, and advocating for the increased movement of cargo from road to rail.
Transmission infrastructure Wheeling progressing in South Africa, the rest of Africa
Published: 27 May 24
The use of national electricity grids to wheel power from renewable-energy projects to demand centres is growing in Africa and helping to drive greater scale in the building of renewable-energy generation, says private equity investment group African Infrastructure Investment Managers (AIIM) investment principal Anyababa Ikem. Strides were being made to increase the ability of renewable-energy players, such as the projects AIIM invests in, to wheel power across infrastructure on the continent, he added during a May 24 briefing held by the company to showcase some of the $900-million worth of investments it had made into renewable-energy projects in Africa, to date.
Labour department, IDC launch round two of the Innovation Fund
Published: 27 May 24
The Department of Employment and Labour, in partnership with the Industrial Development Corporation (IDC), has announced the launch of the second round of the National Pathway Management Network’s (NPMN’s) Innovation Fund, an initiative of the Presidential Youth Employment Intervention (PYEI). The fund is focused on supporting interventions that stimulate demand for labour, reducing barriers that hinder labour market entry and facilitating links to appropriate opportunities.
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