Eskom scores R6.8bn loan from Brics bank for Medupi power plant

Submitted by admin on Wed, 04/03/2019 - 20:02

This is separate from the US$180 million loan agreement signed on Monday to connect 670MW of renewable energy projects to the national grid.

The New Development Bank (NDB) will provide a project loan of US$480 million (about R6.8 billion) to Eskom for environmental protection project for Medupi Thermal Power Plant, National Treasury said on Tuesday.

Public Enterprises Minister Pravin Gordhan recently said that the Medupi and Kusile coal-fired power plants were “badly designed and badly constructed”.

Investors waiting for elections, want stability and certainty

Submitted by admin on Wed, 04/03/2019 - 19:58

Investment envoy Jacko Maree says investors are continually stressing the need for political and policy certainty and simpler regulations.

Companies were “sitting on their hands”, awaiting the outcome of the general elections before putting money into the South African economy, says one of the country’s special investment envoys.

Improved policy, regulation needed to help Eskom power SA, Brics Bank meeting told

Submitted by admin on Wed, 04/03/2019 - 19:49

Patrick Dlamini was speaking during a panel discussion at the fourth annual meeting of the New Development Bank.

Without alternative power generation capacity, unemployment will remain rampant in South Africa, said Development Bank of Southern Africa (DBSA) chief executive Patrick Dlamini on Tuesday.

“The policymakers, they have a decision to make to make sure that you can be able to enable and sustain the economy by coming up with measures that will ensure that there are other generators of power,” Dlamini said.

Ramaphosa to launch SA SME Fund in Johannesburg

The initiative ‘would create market opportunities for black-owned SMMEs through linkages and networking between large firms and SMMEs’.

President Cyril Ramaphosa will launch the Business Leadership South Africa (BLSA) Connect and SA SME CEO Fund Circle in Johannesburg, the presidency said.

admin Thu, 03/28/2019 - 10:03

Netpreneur prize officially open to African entrepreneurs

Submitted by admin on Thu, 03/28/2019 - 10:00

The prize is open to all industries and small business owners and female entrepreneurs are encouraged to apply.

Organisers have opened the application process for the Africa Netpreneur Prize Initiative (ANPI) for entrepreneurs on the continent.

Alibaba Group executive chairperson Jack Ma created the prize after making his first trip to Africa in 2017 and being inspired by the entrepreneurial potential of the young people he met.

Small SA businesses making investments to weather electricity crisis

Uninterruptible power supplies and back-up power inverter systems should be considered.

Many small South African businesses are now being forced to take loans to buy standby equipment to use during rolling electricity power cuts, said small and medium enterprises funder Retail Capital on Wednesday.

State-owned utility Eskom, struggling to produce enough electricity to meet demand, has for the last few days implemented load shedding which suppresses up to 4,000 MW of demand at a given time to avoid a total collapse of the grid.

admin Wed, 03/20/2019 - 09:35
Spaza shop fintech closes a gap in R40bn cash market

Zande Africa uses a micro distribution model to allow spaza shops to take advantage of better pricing directly from manufacturers.

Local fintech company Zande Africa is offering an innovative financial and distribution platform to informal shops, known as spaza shops, a sector where 90% or more of transactions are in cash form.

Zande Africa says the spaza shop market in South Africa is valued at around R40 billion per year and growing at around 10% annually, but is characterised by unbanked owners with limited or no access to better financial products.

admin Wed, 03/13/2019 - 09:50

Busa hopes timeframe for Eskom task team can be extended

Submitted by admin on Thu, 03/07/2019 - 12:37

The team is set to start its work on Monday and has to deliver its report to public enterprises minister Pravin Gordhan within a month.

Business Unity South Africa (Busa) said on Wednesday that it hoped the timeframe for the engineering task team mandated with investigating a host of issues at embattled power producer Eskom could be extended.

The team is set to start its work on Monday and has to deliver its report to public enterprises minister Pravin Gordhan within a month.

Minister Davies announces new SA BRICS business council

Submitted by admin on Wed, 03/06/2019 - 13:49

The new business council is made up of five members with extensive business experience, both locally and internationally.

South Africa Trade and Industry Minister Rob Davies on Tuesday announced the newly appointed South African BRICS Business Council which is set to promote and strengthen trade and investment ties among the BRICS countries.

The BRICS countries are Brazil, Russia, India, China, and South Africa.