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ESKOM has expressed hope that the newly-announced energy plan will help it recover sufficient generation capacity while it gears up for a multibillion-rand transition to renewable energy. Eskom’s general manager for strategy and planning, Matthew Mflathelwa, yesterday revealed for the first time that the energy transition could cost as much as R1.2 trillion. Mflathelwa said about R990 billion of that sum would be for generation in the energy transition plan, while R330bn would be for meeting compliance regarding air-quality requirements. However, Mflathelwa said Eskom would not be able to foot this energy transition bill as it was still saddled with at least R400bn debt. “We are by no means saying that the R990bn will come from Eskom,” he said. “We are creating an environment where other investors can…
There is a welcome relief in sight for motorists – under immense cost of living pressures – as fuel prices are expected to come down by roughly 7 percent as Brent crude prices dropped lower. Annabel Bishop, the chief economist at Investec, said with only a few days of July left, lower energy prices this month were indicating a 7.4 percent drop in South Africa’s petrol price in August and a 6.2 percent decline in the diesel price, which would provide some welcome relief to high living costs, if government passed them through. “Energy prices have fallen as global growth expectations for this year and next year drop lower again,” she said, adding that the International Monetary Fund had published a gloomy update late on Tuesday to…
This follows significant fair value adjustments in the company’s investment property TRANSNET has swung into a R5 billion profit for the year ended March 31, 2022, up from a loss of R8.7bn reported a year ago, following significant fair value adjustments in the company’s investment property valuation. The logistics company bucked the trend of poor performing State-Owned Enterprises in spite of weak economic growth and persistent operational challenges. Transnet also received an unquali- fied audit report for the first time since 2018 as irregular and wasteful expenditure declined materially. The unqualified audit opinion was critical because it has had a number of implications for Transnet with regards to fundraising and just being active in the capital markets. Transnet chief executive Portia Derby yesterday said that the company was gradually…
Ntombezinhle Jiyane, aka DJ Zinhle, is one of the most talked about women in South Africa. The mother, DJ, author, entrepreneur and reality TV star is always a hot topic on social media. Despite all the attention, she’s given the public a glimpse into her personal life with her reality show The Unexpected, which is gearing up to return to BET Africa for its second season in August. The trailer entices viewers with clips of Zinhle wearing a head scarf with ululating sounds in the background as well as moments of her breaking down. In the first season, which was considered a “special”, revolved around Zinhle’s businesses, home life and second pregnancy, as viewers witnessed her and her boyfriend Bongani Mohosana’s, aka Murdah Bongz’s, failed attempt at setting up Asante’s…
RADIO and TV host Elana Afrika-Bredenkamp is launching a podcast to celebrate the beauty of women this Women’s Month. She said she wanted to create a safe space for women by women to share ideas and empower one another. “I asked myself what I would want my daughters to experience and who would I want them to meet professionally. And those are the type of women that I’m interviewing for this podcast. We are extremely blessed and grateful that I own the number one parenting podcast in the country, Baby Brunch. “And we never intended for it to do well. We just wanted to help parents, and it became really successful. Hopefully, through this new podcast that is launching in the first week of August, we will be able to…
THE weight which customary marriages carry was illustrated once again during a legal wrangle by two widows. Both claimed that they were legally married to their now-deceased husband. The first wife said she married her husband in 1991 in terms of customary law. The second said she was the “true wife” as she had married her husband in 2007 in terms of civil proceedings. Both wives told the North Gauteng High Court, Pretoria, that they were entitled to their late husband’s estate, and each asked the court to declare her marriage as being valid. But when Steve Sibanyoni died in December 2020, he had no idea that his marriage to the second wife was not valid because, in terms of the court’s verdict after his death, he was in fact…
