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President Cyril Ramaphosa will address the South Africa Investment Conference (SAIC) on Thursday. The SAIC will be attended by delegates from varying industries in South Africa and across the world at the Sandton Convention Centre in Johannesburg. In its 5th year since inception, President Ramaphosa convened the South Africa Investment Conference with an objective of achieving R1.2 trillion in investments targets. Investors heeding the call have over the last four conferences declared R1.14 trillion in investment commitments. “Of the 152 investment announcements made previously, 45 projects have already been completed, while a further 57 projects are currently under construction. These…

Minister in the Presidency for Electricity, Dr Kgosientsho Ramokgopa, says the withdrawal of the National State of Disaster on Electricity will have no impact on the ministry’s work going forward. Government formally withdrew the State of Disaster and its regulations on Wednesday. “The Minister of Electricity continues to be seized with that responsibility of reducing the severity of load shedding and its regularity. That’s why we have done extensive visits to the power stations of Eskom. We have got a better understanding at the granular level of what… it takes for us to be able to respond comprehensively. “[The State…

The Department of Water and Sanitation (DWS) has called on Independent Power Producers (IPP) to apply for water use authorisations to utilise its water resources, water courses and infrastructure to generate hydropower as an alternative energy to supplement the current electricity available in the grid. The department has initiated the DWS Hydropower Independent Producer Programme (DWS HIPP) in an effort to allow for the available water infrastructure and water courses, including rivers and dams, to be used to contribute to the power grid with renewable energy. In a statement issued on Wednesday, the department said government has approved multipronged interventions…

South Africa Government announced on Wednesday that it has terminated, with immediate effect, the National State of Disaster declared by the Minister of Cooperative Governance and Traditional Affairs (CoGTA) on 9 February 2023. This comes after a legal challenge to stop the State of Disaster by the Organisation Undoing Tax Abuse (OUTA), which questioned its rationality. However, according to CoGTA, the State of Disaster was a necessary response to the impact of critical levels of load shedding on the economy and vulnerable sectors such as health and small businesses. Following the declaration of the State of Disaster in February, government…

Umalusi has officially launched the newly implemented online application system for the replacement of lost or damaged certificates. The Council for Quality Assurance in General and Further Education and Training, Umalusi, recently held a webinar under the theme, ‘Innovatively replacing your lost or damaged certificate issued by Umalusi’. It announced that candidates can now access the system from anywhere via a cellphone or personal computer to apply directly to Umalusi to replace their lost or damaged certificates. The new system has significantly reduced the turnaround time and costs involved in replacing a lost or damaged certificate. At the cost of…

The South African Reserve Bank (SARB) has established South Africa’s first deposit insurance body to protect bank depositors and bring further confidence to a resilient financial sector. The Reserve Bank said the Corporation for Deposit Insurance (CODI) became a legal entity as of 24 March 2023, as set out in the commencement schedule published by Finance Minister Enoch Godongwana. “The commencement schedule outlined the dates at which the resolution and deposit insurance provisions in the Financial Sector Laws Amendment Act 23 of 2021 (FSLAA) come into operation. The FSLAA was signed into law by President Cyril Ramaphosa in 2022,” the…

President Cyril Ramaphosa has directed Transnet to implement reforms swiftly and completely to turn around the crisis in South Africa’s logistics system. “Transnet must quickly embark on a clear path to take us out of this crisis and ensure that the operation of our railways and ports contributes to the growth of our economy,” the President said. He met with the members of the Transnet board and the executive management team at the Union Buildings in Pretoria on Tuesday to discuss the challenges facing the country’s logistics system, including the declining performance of the freight rail network. During the State…

National Hawks head, Lieutenant General Advocate Godfrey Lebeya, says the Directorate for Priority Crime Investigation (DPCI) will begin to focus its attention on ensuring that the country deals with compliance obligations raised by the Financial Action Task Force (FATF) when it greylisted South Africa last month. To achieve this, Lebeya said the Hawks will collaborate with other agencies both at the national and international levels. The Lieutenant General made the commitment on Friday while delivering a public update on the Directorate’s operations in the third quarter of the 2022/2023 financial year. This comes after South Africa was put on a…

A man has been sentenced to 15 years imprisonment by the Musina Regional Court after being found guilty of tampering with essential infrastructure, theft of cable copper relating to essential infrastructure and illegal immigration. National Prosecuting Authority (NPA) Limpopo regional spokesperson, Mashudu Malabi-Dzhangi, said 30-year-old Shepard Munorwa and an accomplice – who managed to escape – were caught stealing cables which disrupted service delivery to a private farm. “During the trial, the accused pleaded not guilty to the offences. In aggravation of sentence, the state prosecutor Jan Krijt submitted that the country is currently experiencing unprecedented levels of cable theft…

South Africa government says it notes S&P Global’s decision to revise South Africa’s credit rating outlook to stable from positive on Wednesday evening. According to S&P, economic growth in South Africa is facing increasing pressure from infrastructure constraints, particularly severe electricity shortages. In reaction, Treasury said, reforms to address infrastructure shortfalls and to improve governance and performance at State-owned enterprises (SOEs) are slow, weighing on growth, while contingent liabilities from SOEs pose continued downside risks to South Africa’s fiscal and debt position. “However, the agency acknowledges that the fiscal position improved in the fiscal year 2022 as revenue rose, thanks…