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Transnet to sell first international bonds in more than 10 years
South African rail agency Transnet has began a new $6 billion bond sale programme into the international capital market in more than 10 years. As the operator of South Africa’s ports and freight-rail network, Transnet announced that it’s planning to soon sell a dollar-denominated note that will account for part of the total. BusinessTech Africa
Eskom load shedding forces platinum miners to limit underground operations
South African platinum mining companies said the worst-ever power cuts have forced them to limit underground operations. Platinum and palladium supplies are threatened by ongoing power cuts that are implemented by Eskom. Outages last year curbed output of the metals, and the power crisis that’s crimping the economy has worsened in recent months. The nation’s
<a>Trendsetting US unveils world’s first AI interns who are employed for 3 months</a>
There’s new trend that is making headlines in the United States of America where the world’s first artificial intelligence-powered interns have just been hired for a three-month stint. BusinessTech Africa has found out that tech marketing agency Codeword is onboarding two Artificial Intelligence interns to complete dull yet necessary tasks – Global News Wire reported.
<a>City of Cape Town delighted with R1,5 billion data centre investment </a>
Cape Town is now positioned to become a high-end technology hub as it launched a new Africa Data Centre facility this week. The Mother City is now well positioned for tech opportunities, so says Alderman James Vos, the city’s mayoral committee member for economic opportunities and asset management. Vos was speaking on the occasion of
Veteran journalist Thulasizwe Simelane joins Takatso Consortium
Takatso Consortium has announced the appointment of veteran television journalist Thulasizwe Simelane. Simelane’s hiring is aimed at ensuring that the deal involving Takatso and South African Airways is transparent and bolstering understanding of the Strategic Equity Partnership transaction. The aviation company is the one acquiring a 51% stake in SAA and it is 80% owned
<a>2023 African Mining Indaba in Cape Town promises to look at innovation</a>
This year’s Investing in African Mining Indaba is set to be held in Cape Town and the event will see the launch of a three-day InfraTech content platform. BusinessTech Africa understands that the indaba will include discussions on innovation in mining technology and how global pandemics and geopolitical realities act as accelerators in technological progress
SANDF deployment at Eskom stations costs South African taxpayer R200 million
The deployment of the South African National Defence Force at Eskom power stations is costing the taxpayer an amount to the tune of R200 million. The army was deployed to the struggling power utility’s power stations and elsewhere in the country for three months but it costs over R200 million. BusinessTech Africa has gathered that
Load Shedding crisis hits major banks, but they amplify plans to mitigate risks
Major banks in South Africa are already planning ahead as they look to navigate their way amid load shedding challenges. Banks such as Standard Bank, Absa, First National Bank, and Nedbank have amplified their efforts to cushion themselves against load-shedding. The quartet is recognised for being the leaders in the banking sector and they emphasised
Astral Foods: Load shedding hurting the South African poultry industry
Owing to the ongoing and devastating load shedding in South Africa, the poultry industry is severely hit and the finances may be decimated. According to the country’s largest poultry producer, Astral Foods, the company expects its earnings for the first half of its financial year to be decimated by ongoing disruptions caused by load shedding.
Nigeria opens West Africa’s largest deep sea port in partnership with China
The Nigerian government has opened a game-changing seaport as it looks to ease congestion at the country’s ports. Nigeria unveiled a billion-dollar, Chinese-built deep seaport in Lagos, which will help it become an African hub for trans shipment, handling cargoes in transit for other destinations. Opened by President Muhammadu Buhari earlier this week, he has
US NTSB lashes out at Ethiopian Airlines for a false report on 2019 Boeing crash
The United States National Transportation Safety Board (NTSB) has announced that Ethiopian Airlines lied about the cause of the 2019 crash. The Boeing 737 Max crash killed all the 157 passengers on board as it crashed outside Addis Ababa. According to the NTSB, Ethiopian authorities falsely claimed the jetliner had an electrical failure and the
CEO Andre de Ruyter says corruption and coal theft is still rife at Eskom
Outgoing Eskom CEO Andre De Ruyter has lamented corruption that continues to engulf the power utility, saying it is rife in the coal section. De Ruyter’s sentiments come as the country is still experiencing an ongoing power crisis with stage 4 of load shedding currently implemented. The CEO said despite significant control measures being implemented,
Eskom reacts to president Cyril Ramaphosa’s call to halt electricity tariff hike
Electricity supplier, Eskom has hit back at President Cyril Ramaphosa’s request to the power utility to freeze its tariff hike. Eskom released a statement to the media and in its response, the state-owned company says only a court of law can be able to halt the price hike as granted by the energy regulator. It
Haval Jolion: A hybrid electric vehicle is now heading to South Africa
China-made car brand Haval has already unveiled the brand new self-charging SUV, Jolion S Hybrid Electric Vehicle and it is coming to South Africa. With their latest offering, Haval has expanded its hybrid electric vehicle (HEV) and the Asian car manufacturer says the debut of an HEV in the affordable SUV segment is set to
Port of Maputo registers new handling record of 26,7 million tons in 2022
The Port of Maputo has accomplished a new handling record for the year 2022 and managed to register a growth of 20% in the previous year. Media Reports coming from the Southern African nation indicate that the total volume handled last year was 26.7 million tons, compared with 22.2 million tons in 2021. This growth
VIDEO: Disgruntled KZN farmer dumps 11 800 litres of milk due to load shedding
A local dairy farmer is seriously disgruntled as he had to dump litres of milk spoiled because of the ravaging load shedding. The farmer based in KwaZulu-Natal, Ross Stratford, said they are fighting the scourge of power cuts day and night and he headed to social media to outline his pain. Stratford parted ways with
South Africa’s petro-chemical giant Sasol signs three renewable energy agreements
Petroleum giant Sasol has just signed three power purchase deals or agreements for the supply of renewable energy. Sasol is in pursuit of reducing its greenhouse emissions by at least 30% by the year 2030 as per a statement from the company. It has come to the attention of this website that, the petrochemical company
Sale of South Africa’s budget airline Mango hits a snag as potential buyers walk away
BusinessTech Africa has just found out that Mango Airlines could be in trouble after its business rescue practitioner (BRP) warned that the group may have to abandon its rescue plan and start winding down proceedings. In the 14th business rescue attempt for the group, the BRP said that a sudden turn of events had clouded the
Standard Bank chairperson urges African governments to work with the private sector
South African banking giant Standard Bank has called on many African governments to take a step back and allow the private sector to lead the economy. This sentiment was made by Standard Bank chairperson Nonkululeko Nyembezi as she recently spoke at the World Economic Forum in Switzerland. Nyembezi argued that African governments should get out
Vodacom’s 45 000km 2Africa sub-sea cable has arrived in Gqeberha
Vodacom has announced that its 2Africa sub-sea cable has arrived at the company’s network facility in Gqeberha, Eastern Cape. The arrival of the cable marks the third landing on the coast of South Africa of the world’s largest submarine cable system. It is reported that the first submarine cable landing in the Eastern Cape region, for which Vodacom