Star 2023-05-19

THE INDUSTRIAL Gas Users’ Association of Southern Africa (Igua-SA) said yesterday that it welcomed the decision by the Competition Tribunal to grant it an interim relief against Sasol Gas from increasing natural gas prices for the next six months. This comes after Sasol Gas, a unit of JSE-listed Sasol in August 2022, notified its customers that it intended to increase its price for natural gas to R133.34 per gigajoule (GJ). Natural gas is an essential input for Igua-SA’s members, which include large industrial users of gas in South Africa. It is not liquefied petroleum gas (LPG) gas that is used in households. This as industrial users are already under immense financial pressure amid unprecedented load shedding in the country and a series of rate hikes. Following an outcry from customers,…

Economist says sustained stage 8 load shedding could plunge growth into another contraction ESKOM could deal a significant blow to South Africa’s already sluggish economic growth prospects this year and potentially plunge the economy into a second recession in three years as the power utility has warned of a high risk of increased stages of load shedding in winter. The struggling power utility yesterday said there was a great likelihood that it could implement stage 8 load shedding this winter, if its interventions are not successful, as the demand for electricity increases due to the cold weather. Presenting its latest Status of the System update and its winter outlook plan, Eskom said 2022 experienced the highest level of load shedding which reduced the third quarter real gross domestic product…

THE RAND YESTERDAY gave back most of this week’s gains, falling near to another record high of R19.41 against the US dollar as the greenback strengthened on a possible solution to the US debt ceiling crisis and expectations of another rate hike. Markets rallied overnight as optimism grew that the US may find a way to lift its debt ceiling and investors have remained focused on any signs of progress in US debt ceiling talks. The stand-off between Democrats and Republicans is likely to be resolved before the crucial June 1 deadline and, if unresolved, could have serious con- sequences for the US and global economy. Also, investors have reduced their bets on a potential pause in the US Federal Reserve’s interest rate hikes next month, with many now increasing…

STRONG business acumen and a passion for food were two of the main ingredients that spurred Karabo Mojapelo on that has seen her business, the All Black Group thrive. Mojapelo, affectionately known as the “Chef In Black”, is a visionary “foodpreneur”, who captivated taste buds with her innovative approach to the culinary world. Her company, The All Black Group caters for private gatherings such as weddings, parties and corporate events. Mojapelo told Business Report what drove her into the food business in the first place. She said: “From a very young age, I considered myself a nosy kid when it came to food. Mostly when there would be family gatherings or even just a dinner at home, I would be in the kitchen helping to chop onions or in any…

THESE are undeniably tough times. In South Africa, the road to economic recovery in a post-pandemic world has been a bumpy one, given the turbulence of the geopolitical climate and the volatility of global financial markets. Thousands of small businesses across the country have felt the impact of these factors, perhaps more acutely than their larger counterparts. Unfortunately, in an environment where only a small percentage of small- to medium-sized enterprises (SMEs) survive past their first year, many local entrepreneurs are faced with what may seem like insurmountable obstacles. However, the first step in learning how to become a successful entrepreneur in South Africa is to find practical and proactive ways to take action. These are four of the greatest challenges facing small businesses and expert advice on how to…

ACROSS the world, some 225 million people working for start-ups and small, micro and medium-sized enterprises (SMMEs) lost their jobs during/post-Covid-19. The impact of this also resulted in many of these businesses shutting their doors for good. Fast forward to post-Covid-19. We are now dealing with geo- political tensions, a high risk of global inflation and, for South Africans, we have an unreliable and unpredictable energy supply, which is further crippling business operations, with the agricultural and industrial sectors being some of the hardest hit. Yes, many businesses have turned to installing alternative sources of power for their business, such as generators and solar solutions, etc. Yet, this too can be a very expensive exercise due to an increased cost of energy, such as diesel, resulting in many being…