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Uganda says it will not renew Eskom’s licences when it expires in March 2023
Uganda has announced that it will not renew Eskom’s licences when it expires in March next year. The East African country said it wants to bring the electricity sector under the government and to control the reduction of costs to consumers. Eskom was contracted to Uganda to run two hydropower stations but the contracts will
Competition tribunal approves Shoprite’s proposal to buy Massmart Stores
South African retailer Shoprite has received a go-ahead as it plans to buy Massmart but it comes with a lot of terms and conditions. The grocery and household products outlet, Shoprite’s proposed plan was approved by the Competition Tribunal as it wants to acquire certain Massmart-owned supermarkets. The transaction will also include wholesalers and liquor
How much does it cost to drive to South Africa's most popular holiday destinations this December – including gas and tolls
South Africans planning to travel domestically during the December festive season should expect to pay more for transportation than they have in the past due to record-high petrol prices and increased toll costs. According to a recent InfoQuest survey, three out of every four South Africans plan to travel away from home this December, with
Stage 7 load shedding has already begun, according to economists
While power utility Eskom spent much of last week attempting to avoid the dreaded stage 7 load shedding threshold, economists at the Bureau of Economic Research (BER) said it had already been technically crossed. “At a point last week, Eskom was technically ‘shedding’ at stage 7, spread between rolling blackouts and load curtailment on heavy
South African provinces with a higher proportion of unemployed people than employed people
Despite rising interest rates and fuel prices, as well as worsening load shedding, South Africa's unemployment rate fell in the third quarter of 2022. According to Statistics South Africa's latest Quarterly Labour Force Survey (QFLS), which was released on Tuesday (29 November), official unemployment fell by one percentage point from 33.9% in the second quarter
Best crossover SUVs for under R400,000 in South Africa
Crossovers have grown in popularity among South African motorists over the years, in part because they have more clearance than standard hatchbacks, allowing their drivers to handle the challenging terrain and pothole-ridden roads that South Africa has to offer. Another advantage of crossovers is that they provide more space than a hatchback while remaining relatively
Calls for the establishment of state-owned construction companies have been renewed
Construction industry associations have expressed serious reservations about the proposed state-owned construction company's ability to address the country's infrastructure backlog. This follows a debate last week in the National Council of Provinces (NCOP) on the "Creation of provincial and municipal owned-construction companies to eradicate infrastructure backlog and abolish tenders”. Mmabatho Mokause, chief whip of the
Extortion'mafia' strikes SA's nearly R1 trillion mining sector
A threatening letter, a derailed train, closed roads, burned vehicles, and workers imprisoned Extortion, according to some of the world's largest mining companies, is a problem in South Africa. Covid sent Africa's most industrialised country — home to the world's largest deposits of metals ranging from platinum to chrome and manganese — into its deepest
Trade Unions welcome the declaration of December 27 as a public holiday
Following the announcement by the South African parliament to declare December 27 as a public holiday, trade union Fedusa has welcomed the news. This comes as a massive relief to the working class and many may call it an early Christmas present as president Cyril Ramaphosa announced. President Ramaphosa opted to declare Tuesday, December 27
Minister Senzo Mchunu in Lesotho to oversee the Highlands Water Project
South African minister of Water and Sanitation Senzo Mchunu is set to embark on a visit to the Kingdom of Lesotho to speed up the implementation of the Lesotho Highlands Water Project. Phase Two of the Highlands Water Project in Lesotho is seen by Mchunu as one of the highly prioritised projects as he will
Glencore looks to shut down 12 coal mines by the year 2035 to decarbonise
One of the biggest players in the global mining industry, Glencore, says it will shut down 12 coal mines by the year 2035. Glencore said, as the biggest natural resources business, it planned to close the mines as it released its annual results on Wednesday. The mining company, Glencore said with 12 coal mine closures
Pravin Gordhan urges Eskom to ‘urgently’ ease Stage 6 of load shedding
While South Africans are waiting to see changes as far as the load-shedding schedule implemented by Eskom is concerned, Minister of Public Enterprises Pravin Gordhan wants urgency. Gordhan has sent a strong message to the Eskom board to act with urgency in solving the issues regarding Stage 6 of load shedding. On Thursday, Gordhan said
Ethiopian Airlines partners with Boeing to ferry human aid on Boeing 737
Airplane maker Boeing has partnered with Ethiopian Airlines in a massive project to transport humanitarian aid on a Boeing 737 MAX. The delivery flights carried out by Ethiopian Airlines are from Seattle in the United States of America and it is reported that three flights delivered cargo in Ethiopia between November and this month. Simple
Emirates Telecoms eyeing to buy 60% stake in JSE-listed Vodacom
There are expected changes at Vodacom if the latest information coming through is anything to go by. BusinessTech Africa has gathered that Emirates Telecommunications Group is weighing options as far as a potential investment in Vodacom as it seeks to boost its international footprint. Sources close to developments reveal that the Abu Dhabi-based telecommunications company
Volkswagen launches new Amarok bakkie but SA clients will wait for 2023
German-based car maker Volkswagen has fought back by introducing the new Volkswagen Amarok R bakkie version to battle the likes of the Ford Raptor. The unveiling of this beast comes after speculation that VW planned to build a high-performance R version of the bakkie but the news was not confirmed back in 2020. According to
FSCA imposes a hefty R20 million penalty on ex-Steinhoff CEO Markus Jooste
In another twist of the tale, the South African Financial Sector Conduct Authority (FSCA) has now imposed a revised administrative penalty of R20 million on Markus Johannes Jooste. Jooste is a former Steinhoff International Chief Executive Officer (CEO) and he is penalised for breaching the Financial Markets Act. FSCA released a statement and explained that
What R6 million houses look like in South Africa versus the United Kingdom, Ireland, the Netherlands, and Australia
Global interest rate increases and rising inflation have made purchasing a home more difficult this year, regardless of where new homebuyers are looking. The latest interest rate hike by the South African Reserve Bank (SARB) in late November raised domestic interest rates by 75 basis points, bringing the prime lending rate to 10.5%. As a
Stage 6: SA must expect higher stages of Eskom load shedding says expert
As South Africans face the possibility of seeing stage 8 of load shedding, energy expert Ted Blom says there are chances of higher stages. Blom’s sentiments come after Eskom implemented Stage 6 on Wednesday, leaving South Africa with the possibility of having power cuts for more than six hours. Eskom said Stage 6 of power
Big changes for South African schools – these are the laws that are being accepted and rejected
The basic education portfolio committee has summarised the feedback received so far on proposed changes to South Africa's school laws. The committee summarised the main points of approval and opposition to the Basic Education Laws Amendment Bill (BELA), which aims to make a slew of changes to South African schools, in a presentation this week
What's next in the South African president's cash-in-sofa scandal?
‘We can assure South Africans that they have a head of state that is firmly focused on the task at hand,’ his spokesman Vincent Magwenya said. A scandal that has put South African President Cyril Ramaphosa's grip on power to the test and roiled the country's bond and currency markets has yet to be resolved.