Author: Agency
The National Prosecuting Authority’s (NPA) Asset Forfeiture Unit has obtained a preservation order against assets related to a PPE matter worth R27 million in the Northern Cape. The order was granted against the assets of well-known Kimberley businessman Somandla Sibisi and his companies Macronym 37 and Aphiwokuhle Holdings. The frozen assets include a residential property bought for some R900 000, a business property – known as Live Café – bought for more than R2 million, kitchen equipment bought for over R300 000 and a 2013 model Audi A1 car bought for R130 000. NPA regional spokesperson, Mojalefa Senokoatsane, explained that…
The National Research Foundation (NRF) and the Energy Mobility Education Trust have concluded a three-year partnership agreement to fund postgraduate students in the science, technology, engineering, and mathematics (STEM) and commerce fields. The agreement is said to focus on traditionally marginalised groups and contribute to the transformation of the education landscape, with a specific focus on South Africans who are Black, female or people with a disability. According to the Energy Mobility Education Trust CEO, Vuyo Mwase, the move will promote academic, scientific, and technological cooperation by supporting full-time studies for South African postgraduate students at the Honours level for…
Eskom’s transmission expansion and strengthening will require a “considerable amount of resources” that will require government and the private sector to work together. This is according to Minister in the Presidency for Electricity, Dr Kgosientsho Ramokgopa, when he was briefing media on the progress of the Energy Action Plan. “We are looking to tap into the liquidity that is available from the private sector to allow us an opportunity to expand the grid so that we are able to accommodate the renewable energy solutions that have been rolled out in the country, and a number of them have not been…
The South African Reserve Bank Governor Lesetja Kganyago has announced that the repo rate will remain unchanged at 8.25%. Kganyago made the announcement in Pretoria on Thursday after a meeting of the Monetary Policy Committee (MPC). He said South Africa’s load shedding has increased and prices for commodity exports continue to weaken. In the near term, stronger El Niño conditions threaten the agricultural outlook, while global climatic events present additional risks. “Energy and logistical constraints remain binding on the growth outlook, limiting economic activity and increasing costs,” said the Governor. The GDP growth forecast for 2024 and 2025 is unchanged…
A Vereeniging-based cable manufacturing company aims to create jobs for locals through the expansion of its cable manufacturing facility starting from October 2023 to 2025. M-TEC is one of the companies that made investment pledges at the fifth South African Investment Conference that was hosted by President Cyril Ramaphosa in Johannesburg in April this year. Pledges made at the conference contributed to bringing the total value of investment pledges, over a five-year investment mobilisation period, to R1.51 trillion, thereby exceeding the initial target of R1.2 trillion set by President Ramaphosa. M-TEC made the R70 million investment pledge, and says there…
Public Enterprises Minister Pravin Gordhan has welcomed the National Energy Regulator of South Africa’s (NERSA) decision to approve the trading and import/export license applications by the National Transmission Company of South Africa (NTCSA). The NTCSA is wholly owned by Eskom as the state-owned company is being restructured into the generation, transmission and distribution subsidiaries. “This is great news for the people of South Africa. We now have in place all the critical elements for creating a more dynamic, a more responsive and a competitive electricity industry. “The granting of these licences means that the National Transmission Company of South Africa…
Nangamso Matebese has been appointed to the advisory team in the Office of Deputy President Paul Mashatile. “Ms Matebese is being seconded to the Office by the Development Bank of Southern Africa to serve as economic affairs advisor to the Deputy President,” a statement read on Monday. “Matebese brings critical experience to the Presidency, having been responsible for infrastructure coordination among her many past responsibilities.” Matebese is a qualified Chartered Banker with qualifications from Harvard Business School. She has over 14 years of experience in investment banking, infrastructure and project finance, fund administration and management, and portfolio management. The Office…
South Africa will use its Chairship of the Africa Green Hydrogen Alliance (AGHA) to advance the green hydrogen agenda on the continent and support opportunities for peer-to-peer learning, technology transfer, economic and employment opportunities. This is according to Minister in the Presidency for Electricity, Dr Kgosientsho Ramokgopa, who was handed Chairship of the AGHA on the sidelines of the Inaugural Africa Climate Summit (ACS), which took place from 04-06 September 2023 in Nairobi Kenya. “Green hydrogen and its associated large scale renewable energy production has the potential to support the expansion of the electricity transmission infrastructure, to add additional renewable energy…
Home Affairs Minister, Dr Aaron Motsoaledi, says officials are committed to making the country’s border posts safer, less porous and more efficient in the facilitation and easing of trade, as well as the legitimate movement of people. “The South African government is committed to putting in the latest infrastructure and relevant technology in its efforts to modernise and upgrade our ports to be on par with the current global best practices on border management,” Motsoaledi said. Addressing media in Pretoria on Wednesday, Motsoaledi said the main objective of upgrading border posts is to make it easier for law-abiding people and…
The Department of Justice and Constitutional Development (DJCOD) is expected to officially launch the Masters’ Deceased Estates Online Registration System in October. In a webinar to inform the public about the new online service, Advocate Kanyane Mathibe, Chief Director for Strategy and Policy in the Office of the Chief Master said the system seeks to enable the Masters’ offices to serve clients in a quicker manner and reduce queues. “We then embarked on a journey to develop an online deceased estates registration system that cuts the time in half that you can now register or report estates in the comfort…