Author: Agency

Higher Education, Science and Innovation Minister, Dr Blade Nzimande, has honoured Huawei for unearthing talent in the information communication technology (ICT) sector, especially during the Fourth Industrial Revolution (4IR). “The 4IR imperatives require drastic digital transformation and skills development. Digital transformation cannot happen without skills acquisition,” the Minister said on Monday. Nzimande was speaking during the Huawei South Africa ICT Talent Development Annual Awards ceremony on Monday, celebrating and honouring the excellent Huawei ICT Academy Instructors. The programme is one of the initiatives in which Huawei collaborates with universities and colleges to train, develop and certify ICT talent across South…

The Public Investment Corporation (PIC) has adopted a hydrogen investment strategy aimed at unlocking value through funding and the provision of early-stage capital for the development of the hydrogen value chain. Sekgoela Sekgoela, a Senior Investor Relations Specialist at the PIC, on Monday said the strategy further seeks to leverage on more than 200 hydrogen projects that have been announced worldwide and the more than $250 billion (approximately R4.3 trillion) required for the development of a hydrogen economy in South Africa. “The South African government, through its Hydrogen Roadmap, has identified hydrogen as a possible investment avenue. Hydrogen promises to…

The repurchase rate (repo rate) in South Africa reached 7% after the SA Reserve Bank’s (SARB) Monetary Policy Committee (MPC) agreed to a 75 basis points hike. The increase means that the repo rate will now be 7% per year from 25 November 2022, with prime now at 10.5%. The development was on Thursday announced by SARB Governor Lesetja Kganyago during a press briefing. Addressing media, the Governor said three members of the MPC preferred the announced increase. “Two member preferred a 50% basis points increase,” he said. The level of the repurchase rate is now above the level prevailing…

While the South African economy has experienced various challenges, including electricity shortages, work is underway to ensure that the country attracts investment. “While there are many attractions and huge potential for investors in South Africa, there are a number of constraints on economic growth and social development. For more than a decade, South Africa has been confronted with a shortage of electricity,” said President Cyril Ramaphosa. The President made these remarks at the SA-UK Business Roundtable in London on the second day of his two-day State Visit to the United Kingdom, on Wednesday. “We have taken urgent steps to remedy…

President Cyril Ramaphosa has called for the African Union to be made a permanent member of the G20. The G20 is a group of 20 countries with leading economies which come together to discuss policy on health, trade and other issues. The President was speaking during the Working Session on Food and Energy Security at the G20 Leaders’ Summit, held in Bali, Indonesia. President Ramaphosa said the addition of the African Union will give a more unified approach to solving challenges currently plaguing the world. “We call for continued G20 support for the African Renewable Energy Initiative as a means…

President Cyril Ramaphosa says government remains committed to transformation of the economy and empowerment. He was addressing the nation through his weekly newsletter. The President’s assertion follows a week where the National Treasury published a new set of Preferential Procurement Regulations. “The new regulations are not ‘a victory for sound business practices’ as one interest group has claimed. What is unsound, unsustainable and, above all, immoral, is an economy that benefits the few at the expense of the many. “Put plainly, we remain as committed as ever to broad-based black economic empowerment, meeting our localisation objectives and transforming an economy…

Stage 3 load shedding will be implemented from 4pm and Tuesday evening until 5am, Eskom said on Monday. Stage two load shedding will then kick off between 5am and 4pm on Tuesday. “The higher stage of load shedding is mainly due to high levels of breakdowns as well as the depleted emergency generation reserves. “Load shedding is implemented only as a last resort in view of the shortage of generation capacity and the need to attend to breakdowns,” an Eskom statement read. The power utility currently has 16 992MW of capacity unavailable due to breakdowns with a further 4177MW off due…

The National Planning Commission (NPC) has called for a sense of urgency in the execution of the National Implementation Framework towards the Professionalisation of the Public Sector. Cabinet recently approved the Framework, which provides five pillars on interventions in professionalising the public service. The pillars include pre-entry recruitment and selection within the public service; induction and onboarding; planning and performance management; continuous learning and professional development; and career progression and incidents. “The focus should now be on implementation. While some aspects of the framework will need legislative amendments, ministerial directives and regulations, others can be implemented immediately,” the NPC said…

President Cyril Ramaphosa says the time has come for the African continent to integrate and work more closely together. The President was speaking at the Kenya-South Africa Business Forum held on Wednesday evening in the East African country where he is on an official state visit. “For us to surge forward, to address the issue of integration, it is about time that indeed Africa is more integrated. When we look at other continents, especially Europe, their inter trade is up to 70% and ours is a paltry less than 20%. “When you go into the markets that we have…I often…

President Cyril Ramaphosa has announced that Kenyans will now be able to enter South Africa visa free for a period of 90 days. The President made the announcement during an Official State Visit to the country on Wednesday. During the visit several Memoranda of Understanding and agreements were signed between the two countries. The President said an agreement was reached on the “thorny issue” during talks. “We agreed that indeed Kenyans should be able to visit South Africa without requiring them to have visas… this dispensation will commence on the 1st of January 2023 and that our officials will speed…