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AfDB approves two facilities for Standard Bank
Published: 12 Dec 24
Finance institution the African Development Bank Group (AfDB) has approved two financial facilities for South Africa-based Standard Bank Group to support economic development in Africa. The first is a $200-million trade finance risk participation agreement (RPA) for Standard Bank of South Africa and the second a R3.6-billion investment in a social bond issued by the Standard Bank Group (SBG).
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AfDB approves two facilities for Standard Bank
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Bidvest Group sells bank business to Access Bank for R2.8bn
Published: 12 Dec 24
Bidvest Group has concluded an agreement for the disposal of 100% of Bidvest Bank Holdings to Access Bank for R2.8-billion.
Bidvest Group CE Mpumi Madisa says that, as a well-respected, experienced and prominent financial services entity, she is very confident that Access Bank will continue to provide sustainability and prosperity of Bidvest Bank.
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Bidvest Group sells bank business to Access Bank for R2.8bn
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GoSolr expresses concern about Eskom targeting solar users with higher tariffs
Published: 12 Dec 24
State-owned power utility Eskom has sparked debate with its latest tariff proposal, resulting in uncertainties for solar power users.
Solar energy company GoSolr co-founder Patrick Narbel points out that, although South Africa’s electricity system needs tariff reviews to ensure an efficient and fair energy system, there are risks with getting them wrong, including market distortion.
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GoSolr expresses concern about Eskom targeting solar users with higher tariffs
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Cape Town service level plan is not a devolution agreement, warns PRASA
Published: 12 Dec 24
The recent Service Level Plan (SLP) signed between the Passenger Rail Agency of South Africa (PRASA) and the City of Cape Town is not a devolution agreement, warns the rail agency. It says the agreement flows from Section 11 of the National Land Transportation Act, which entrusts municipalities with the function of preparing transport plans for the area under their control, ensuring compliance to these plans, while also enabling service level planning for passenger rail in consultation with PRASA.
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Cape Town service level plan is not a devolution agreement, warns PRASA
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Liquid Intelligent Technologies extends its Botswana fibre network
Published: 12 Dec 24
Pan-African technology group Liquid Intelligent Technologies has completed its fibre network extension from Ramatlabama to Ramokgwebana. The enhanced independent network spans over 730 km, marking the first-ever direct connection from northern Botswana along the A1 road and bringing key towns, such as Francistown, Mahalapye and Palapye, into the fold.
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Liquid Intelligent Technologies extends its Botswana fibre network
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Cape Town liquid bulk terminal earmarked R195m for refurbishment with renewed concession
Published: 12 Dec 24
Transnet National Ports Authority (TNPA) has appointed FFS Tank Terminals as the preferred bidder to refurbish and maintain a liquid bulk terminal at the Port of Cape Town’s liquid bulk precinct.
FFS will operate the terminal for a 25-year concession period, which is poised to improve overall volume throughput.
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Cape Town liquid bulk terminal earmarked R195m for refurbishment with renewed concession
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Midas substation repairs still under way, but essential load to mines restored
Published: 12 Dec 24
A 500 MVA transformer at the Midas substation, in Gauteng, tripped in the evening of December 11, disrupting electricity supply to about 15 mines in the Carletonville, Fochville and Potchefstroom areas, as well as to residential customers. State-owned utility Eskom says in a December 12 update that its technical teams acted swiftly and have managed to restore essential load to the mines, enabling limited operations.
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Midas substation repairs still under way, but essential load to mines restored
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IATA disappointed at slow ramp-up of sustainable aviation fuel production
Published: 12 Dec 24
The International Air Transport Association (IATA), which is the global representative body for the airline industry, has lamented the slower-than-hoped-for ramp-up of sustainable aviation fuels (SAF) production during this year. While 2024 SAF production is, at 1 000 000 t (or 1.3-billion litres), 100% higher than the 2023 figure of 500 000 t (600-million litres), it is still far short of the previous SAF production estimate for this year, which was 1 500 000 t (1.9-billion litres). SAF ...
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S Africa's Premier Group open to acquisitions after profit jumps 32.4%
Published: 12 Dec 24
South African food producer Premier Group has 1.1-billion rand ($60.91-million) available for acquisitions, it said on Tuesday, after reporting a 32.4% rise in interim profit. Already, the group, which vies for market share with rivals such as Tiger Brands, Pioneer Food and RCL Foods, in June acquired a 30% stake in rice importer Goldkeys International, to gain exposure to the market in the staple.
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