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April transactions index increase welcome, but investors wait and see
Published: 08 May 24
Financial infrastructure services company BankservAfrica's Economic Transactions Index (BETI) increased by 0.6% month-on-month in April to reach an index level of 134.2, which is the highest level in eight months. While loadshedding, which has remained suspended since the end of March, may have had a positive impact on economic activity in April, the upcoming elections might have also played a role, the company noted.
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April transactions index increase welcome, but investors wait and see
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Equites starts wheeling power from distribution centre to head office in Cape Town
Published: 08 May 24
Property developer Equites Property Fund has officially started wheeling renewable energy onto Cape Town’s grid from solar panels atop its newly built distribution centre in Parow.
The company is among the first to begin wheeling energy for the municipal grid, with its current offtaker being a commercial office block on the Foreshore, where Equites is headquartered.
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Equites starts wheeling power from distribution centre to head office in Cape Town
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TPT to continue to invest in Durban Pier 2 while legal spat over private partner plays out
Published: 08 May 24
South Africa’s Transnet Port Terminals (TPT) says it will continue to invest in Durban Container Terminal (DCT) Pier 2 while legal proceedings around its selection of International Container Terminal Services (ICTSI), of the Philippines, for a 25-year partnership at what is South Africa’s largest container terminal. Rival bidder AP Moller–Maersk, of Denmark, is contesting Transnet selection of ICTSI, which was made in July last year, calling the award unlawful and invalid.
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TPT to continue to invest in Durban Pier 2 while legal spat over private partner plays out
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Airlink adopting IATA’s New Distribution Capability
Published: 08 May 24
South African regional and domestic airline Airlink has announced that it is to implement the New Distribution Capability (NDC) for its transactions with the travel trade, with effect from July 31 this year. NDC was launched by the International Air Transport Association (IATA) and is a data exchange format, using Offer and Order management processes to enable airlines to create and distribute relevant offers to customers, irrespective of the distribution channel. NDC is supported by the travel industry. It replaces the around 40-year-old Electronic Data Interchange for Administration, Commerce and Transport protocol.
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Personality affects susceptibility of people to cybercrime
Published: 08 May 24
Personality type is a major factor in people’s vulnerability to cybercrime, a Stellenbosch University (SU) researcher has established. People with an “agreeable” personality were more vulnerable than others to “social engineering” cyberattacks. The research was carried out by systems analyst Vian Smit, who recently graduated with a Master's in Socio-Informatics from SU. Smit surveyed nearly 700 people for his research. They were divided into five “personality types” – conscientious, extravert, agreeable, open, and neurotic. (These categorisations were those used in cybersecurity.) His survey addressed the likeliness of the people in these categories responding to social engineering attacks (in which cybercriminals try and trick people into revealing private information or passwords or into clicking on harmful links).
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High Court dismisses embattled Tongaat’s appeal on levies owed to industry
Published: 08 May 24
After not paying levies owed to the South African Sugar Association (Sasa) since October 2022, sugar producer Tongaat Hulett has again been ordered by the Durban High Court to pay the outstanding levies.
The levies are essential to the economic survival of many sugarcane farmers and the thousands of livelihoods they support, says industry body SA Canegrowers, which welcomes the High Court judgment.
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JSE undertaking measures to mitigate de-listing, shrinkage
Published: 08 May 24
The JSE is undertaking several initiatives to mitigate de-listings and reduced market capitalisation, chairperson Phuthuma Nhleko said during the entity’s AGM on May 7. Speaking to Engineering News prior to the meeting, consultancy and research provider AmaranthCX director Paul Miller posited that the entire public market ecosystem was “withering” and that the JSE’s communication did not reflect the extent of this problem.
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South Africa to provide new coal-plant closure timeline to secure secure $2.6bn
Published: 08 May 24
South Africa will provide a new timeline for the shutdown of coal-fired power plants in a bid to secure about $2.5-billion in climate finance, an agency in President Cyril Ramaphosa’s office said. The timetable to be proposed to the Climate Investment Funds in June aims to ensure the country remains on track to obtain funding under the so-called Just Energy Transition Partnership — a $9.3-billion pact with some of the world’s richest nations. Under the agreement, first announced in 2021, South Africa will receive the assistance on condition it cuts its dependence on coal, which accounts for four-fifths of the nation’s electricity output. Early last year, South Africa told its partners in the pact it planned to delay the planned shutdown of coal-fired plants — 14 of which are operated by state utility Eskom — to address record electricity outages. The authorities didn’t set new closure dates. “What we are presenting to the CIF is an adjustment to the decommissioning plan linked to an emissions target that we have to achieve,” said Neil Cole, a finance manager at the Project Management Unit, which is overseeing the JETP for South Africa, within the presidency.
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Cape Town adds new tech layer in fight against crime – Eye-in-the-Sky
Published: 08 May 24
Very early on in his term, Cape Town Mayor Geordin Hill-Lewis was told by law enforcement agencies that there could never be enough boots on the ground to fully combat violent crime and the drug trade in the city. What these agencies needed was for the local authority “to go all in” on technology, adding a new layer every time it becomes more widely available and increasingly affordable.
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Telecommunications to play a critical role in upcoming elections
Published: 08 May 24
As South Africa approaches its 2024 national elections, scheduled for May 29, telecommunications infrastructure will play a key role in ensuring seamless communication among voters, electoral bodies and all stakeholders involved in the electoral process, the Communication Risk Information Centre (COMRiC) said on Wednesday. “As we approach the elections, the need for secure and reliable communication channels cannot be overstated. These systems are the backbone of electoral transparency and efficacy,” said COMRiC CEO Advocate Thokozani Mvelase, stressing the importance of robust telecommunications security to facilitate a successful electoral process.
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According to the World Gold Council (WGC), gold had another good month in April, posting a 4% gain and ending the month at $2 307/oz. “Unlike...
