Author: Agency
Government has approved two additional guarantees totalling R94.8 billion for Transnet to help the state-owned logistics company meet its debt obligations, maintain adequate liquidity, and mitigate the risk of further credit rating downgrades. The first guarantee, worth R48.6 billion, is intended to ensure Transnet can meet all debt redemptions over the next five years, and ensure that the entity also maintains sufficient liquidity levels. “Government has also considered the impact of the credit downgrades on Transnet’s existing debt, and has therefore also approved R46.2 billion for it to mitigate the risks of such ratings actions on its debt. This additional…
South Africa and the African Development Bank (AfDB) have signed a $474.6 million loan agreement aimed at supporting the implementation of the Just Energy Transition (JET). The loan agreement with the AfDB follows the first policy loan concluded in 2023 to support South Africa’s Just Energy Transition. “This new agreement highlights the importance of South Africa’s partnership with the AfDB in advancing South Africa’s development agenda. It strengthens efforts to improve energy security measures, accelerate the decarbonisation of the economy, and enhance the socio-economic benefits of the energy transition enabling inclusive economic growth and fostering job creation,” National Treasury said…
National Treasury has isolated servers that were compromised by a malware intrusion on its Infrastructure Reporting Model (IRM) website, the online infrastructure reporting and monitoring system. Treasury will assess the IRM servers for the magnitude of the compromise and to ensure the security of its systems. “Considering recent media reports since Sunday regarding security incidents affecting Microsoft platforms in the United States, National Treasury has requested Microsoft’s assistance in identifying and addressing any potential vulnerabilities within its Information and Communication Technology (ICT) environment. “Despite these events, National Treasury’s systems and websites continue to operate normally without any disruption. “National Treasury’s…
President Cyril Ramaphosa has lauded BMW South Africa’s launch of the locally produced BMW X3 plug-in hybrid electric vehicle (PHEV) as a significant leap toward a low-carbon future and a boost for South Africa’s industrial and economic growth. Speaking at BMW’s Rosslyn plant in Tshwane on Thursday, the President praised the milestone as a symbol of trust in the country, as well as a demonstration of BMW Group’s long-standing commitment to the South African market. The President highlighted that this world-class facility was the first BMW plant to be built outside of Germany and has been at the centre of…
In his weekly newsletter on Monday, President Cyril Ramaphosa says government is making “significant progress” in clearing obstacles, with a clear view to enhance economic growth. Last week, government released the report on Operation Vulindlela, detailing the government-wide initiative, which is aimed at accelerating progress on economic reform. “This report shows that the economic reform programme is making steady progress, opening the way to more rapid, inclusive and sustainable growth and job creation. We established Operation Vulindlela in the Sixth Administration to remove the binding constraints that have long held back our economy’s growth: an unreliable energy supply, inefficient rail…
Parents and guardians have been reminded that the Gauteng Department of Education’s (GDE) 2026 Online Admissions Application period for Grades 1 and 8 will open in the new week. The admission system is only meant for parents and guardians with children going to Grade 1 and/or Grade 8 in 2026. It will go on live on Thursday, 24 July 2026, at 8am for Grade 1 and 8 applications. “Parents with children that are currently in Grade R must also apply online for their children to be admitted to Grade 1 for 2026 in line with Admissions Regulations. There is no…
The Office of the Chief Justice (OCJ) has warned the public of fake social media accounts falsely claiming to be that of Chief Justice Mandisa Maya. “We wish to categorically state that Chief Justice Maya does not have any personal or official social media accounts on platforms such as Facebook, Twitter/X or TikTok. “It is not advisable to engage with any social media accounts/profiles claiming to be that of Chief Justice Maya,” the OCJ said in a short statement. The public is urged to report the fake profiles. “If any communication is received, purported to be from the Chief Justice,…
With the surge in natural disasters in the last decade, the Governor of the South African Reserve Bank (SARB), Lesetja Kganyago, has called on leaders in the Group of Twenty (G20) to bridge the gap in the natural catastrophe insurance protection gap. The gap refers to the difference between total economic losses and insured losses caused by natural catastrophe (NatCat) events. “Addressing the Natural Catastrophe Insurance protection gap is both urgent and consequential for both developed and emerging market economies. “The frequency and intensity of natural disasters are increasing, causing significant damage to property and infrastructure, impacting lives and livelihoods,…
South Africa and China are at a crucial juncture in redefining their economic partnership, moving from a focus on raw material trade to a collaborative approach to industrialisation. This is according to Deputy President Paul Mashatile, who was speaking during a working dinner with the Insurance Corporation of British Columbia (ICBC) and Standard Bank at the China World Summit Wing Hotel Conference Hall in Beijing. “South Africa and China are at a pivotal moment to redefine our economic partnership, from raw material trade to co-industrialisation. Together, we can pave the way for a brighter future that brings prosperity to our…
Government is following through on its commitment to invest more than R1 trillion in infrastructure over the next three years to renew the country’s roads, port, rail, energy and water systems. This is according to President Cyril Ramaphosa who presented The Presidency Budget Vote for the 2025/2026 financial year in the National Assembly in Parliament on Wednesday. The Budget Vote focused on the 7th administration’s three strategic priorities, including promoting inclusive growth, job creation, tackling poverty and the high cost of living, and building a capable, ethical, and developmental state. “South Africans benefit when the economy grows, when jobs are created,…