November 05, 2023
South Africa: South Africa Pins Its Hopes On an Early 2024 U.S. Congress Renewal of AGOA
The US trade delegation has used the Agoa Forum, hosted last week in Johannesburg, to reiterate that its economic relationship with South Africa remains 'strong' despite the Lady R… Read more »
November 01, 2023
South Africa: Treasury Has Been Bent to Ramaphosa's Populist Agenda - The Consequences Will Be Dire
The hard numbers won't go away. Instead of shrinking, they will grow and unless there is a dramatic change in direction, they will overwhelm the fiscus. The private sector has been… Read more »
South Africa: Muted Responses to Reality-Check MTBPS As Debt Debacle Impacts Economic Growth
Debt and rising debt repayment costs, now the biggest government expenditure, was the thread in Wednesday's Medium-Term Budget Policy Statement. It means everything from no… Read more »
South Africa: Rand and Bonds Post Mild Gains After Mini-Budget Allays Worst Fears
The initial market reaction to Finance Minister Enoch Godongwana's mini budget was cautiously positive as it allayed -- for now -- some of the graver concerns among investors. Read more »
South Africa: Treasury Has Again Neglected Country's Most Economically Vulnerable - Civil Society Organisations
Civil society organisations with a focus on education, health and social grants were less than enamoured with the 2023 Medium-Term Budget Policy Statement that Finance Minister… Read more »
South Africa: South Africa Likely to Secure Trade Status Extension With U.S., Say Officials - But for How Much Longer?
Maintaining South Africa's status under the African Growth and Opportunity Act will save 30,000 jobs in the Western Cape alone and increase trade from an annual R50bn-plus. But… Read more »
South Africa: More Tax to Come As Godongwana Juggles Public Finances to Extend R350 Grant
Enoch Godongwana's MTBPS highlighted tax hikes tempered by an extension to the Social Relief of Distress grant. Read more »
South Africa: Govt to Borrow More Money As Revenue Dries Up - Medium-Term Budget
The government plans to increase its borrowing requirements from R515.6-billion to R563.6-billion during the 2023/24 fiscal year. Debt has become an even bigger and scarier… Read more »
October 31, 2023
Mozambique: Oil and Gas Hunters Target the Last Refuge of Vanishing Dugongs
The global oil and gas survey company Searcher is gearing up to blast powerful sound waves into the Indian Ocean, directly adjacent to the last viable population of dugongs on… Read more »
South Africa: Power Utility Posts Record Financial Loss
Eskom earned less revenue than anticipated as a result of not recovering electricity payments, and spent more money, especially on diesel, to run its emergency generation fleet… Read more »
October 30, 2023
South Africa: No Good Budgetary Choices in Troubled Times Ahead of a Crucial 2024 Election
Having assured the governing ANC's national executive committee that South Africa was not running out of money - and that fiscal discipline wasn't austerity - Finance Minister… Read more »
October 29, 2023
South Africa: Godongwana's Medium-Term Budget Policy Statement Likely to Present a Gloomy Fiscal Outlook
Fiscal consolidation is no longer on the cards. Government expenditure has exceeded revenue by about R200-billion this year, raising jitters that Treasury will have to borrow more… Read more »
South Africa: Energy Sector Explores Strategies to Limit Bird and Bat Fatalities At Wind Farms
Fatal bird and bat collisions with rapidly spinning wind turbine blades in South Africa occur more frequently than previously thought and are one of the most significant ecological… Read more »
October 26, 2023
South Africa: Transnet's Turnaround Plan Is Premised On Securing a R100bn 'Capital Injection' From Government
The more than R100bn financial support package that Transnet has asked the National Treasury for includes a R47bn equity injection or loan, and for the government to take over… Read more »
South Africa: Ahead of Crucial Agoa Forum, Pretoria Again Treads Fine Line With Stance On Israel, Palestine, Gaza
After engaging in energetic diplomacy with the US over Russia's invasion of Ukraine, South Africa is once again walking a tightrope, this time on the Israel-Palestine-Gaza crisis. Read more »
Africa: Continent Is Key Source of Minerals for Global Energy Transition - But There Are Hidden Dangers
If Africa is to successfully exploit its critical mineral endowments, it must navigate a complex geopolitical environment, manage important policy trade-offs and foster regional… Read more »
October 25, 2023
South Africa: More Than 15,000 Excess Deaths Feared If Country Doesn't Shut Coal-Fired Power Plants - Study
What is the cost of extending the life of our coal plants? A new study finds that delaying the decommissioning of our coal fleet may help with load shedding, but it will cause… Read more »
South Africa: Anglo American, Coal Producers to Be Slapped With Class Action Over Miners' Lung Diseases
In an effort to rectify mining injustices, human rights lawyers at Richard Spoor Inc have filed a class action suit against some of South Africa's biggest mining companies, on… Read more »
October 24, 2023
South Africa: 'Mr X's' Testimony At Lily Mine Inquest Paints Chilling Picture of Illegal Mining Facilitated By Employees
The findings from the Lily Mine inquest included first-hand accounts of the mine's collapse in 2016 as well as extensive allegations of illegal mining, which was allegedly… Read more »
South Africa: Sanral Board Withdraws Controversial Preferential Procurement Policy, Cancels Advertised Tenders
About 80 Sanral tenders that are yet to close -- with a value of more than R11bn -- will be affected by the board's decision to withdraw a new preferential procurement policy, with… Read more »
South Africa: Media Speculates Reserve Bank's Kuben Naidoo Could Be a Great Fit for Nedbank
Nedbank has firmly declined to comment on media speculation that the South African Reserve Bank's Kuben Naidoo could be a great fit for its open CEO position. Read more »
Africa: Africa Energy Week - Where Climate Science Makes Way for the Gods of Gas and Coal
Over the course of the week, the organisers of Africa Energy Week 2023 gave a key platform to alleged fraudsters, sanctioned Russian energy companies, oil giants and people who… Read more »
October 23, 2023
South Africa: Gold One Mine 'Hostage' Drama Signals Possible End of NUM-AMCU Honeymoon
More than 500 National Union of Mineworkers members are allegedly being 'held hostage' at the Gold One mine on the East Rand by the rival Association of Mineworkers and… Read more »
South Africa: Kuben Naidoo Resigns As SA Reserve Bank Deputy Governor
Naidoo's successor must have the blessing of the ANC, and, according to one analyst who spoke to Daily Maverick on condition of anonymity, there is no real succession plan in the… Read more »
South Africa: New Push for Coal Mine On Kruger National Park Boundary Raises Alarm
An obscure mining company has revived a rejected proposal under a new name - and Kruger management says it has been kept in the dark about an environmental impact assessment that… Read more »