Star 2024-02-08

ZERO CARBON Charge has signed a memorandum of understanding (MoU) with Chinese energy storage systems manufacturer Shanghai Magic Power Tech, also known as Magic Power, and its local partner Greencore Energy Solutions, to build and import the first-of-its kind integrated supercharging systems for its 120 renew-able charging stations being rolled out across South Africa. In November last year, Zero Carbon Charge announced that it will be starting construction on a national network of 100% renewable energy-powered electric vehicle (EV) charging stations. This technology means that customers at Zero Carbon Charge’s off-grid, solar-powered charging stations will be able to charge any electric vehicle at its maximum charging rate. The MoU follows Zero Carbon Charge’s trip to China at the end of last year in order to source the most cutting-edge, custom…

Greater participation of the private sector will be needed to solve the country’s economic challenges THE BUSINESS sector has called for bold announcements about greater participation of the private sector in critical sectors in South Africa, including energy and logistics, in a bid to solve the enduring economic challenges in the country. This comes as President Cyril Ramaphosa will deliver the State of the Na- tion Address (Sona) in Parliament tonight, which outlines the government’s achievements over the course of its administration and sets the tone for the year ahead. Business Unity SA (Busa) yesterday said they were expecting to see Ramaphosa making a clear acknowledgement of the partnership between the government and business on energy, logistics, and crime and corruption. Busa CEO Cas Coovadia said they also wanted a…

MANIPULATION of the rand by local and international banks indicate that corruption had hit complex and multi- faceted levels in South Africa as it involved public and private spheres though well-knitted networks that required a dedicated anti-corruption agency to unravel, Corruption Watch said yesterday. Some banks, including Standard Chartered, singled out by the Competition Commission, have already admitted colluding to fixing the rand between 2007 and 2013 and paid fines. However, others are digging in, saying they were not involved in rand manipulation. The Competition Commission is now appealing at the South African Constitutional Court against the Competition Appeal Court’s (CAC’s)judgment, which upheld the appeal by the majority of the respondent banks accused of price-fixing and division of markets in contravention of the Competition Act. “The CAC order, therefore, released…

EVEN THOUGH there will be no announcement of the 2024 general election date during President Cyril Ramaphosa’s State of the Nation Address (Sona) tonight, investors are expecting policy certainty, reform agenda, and clarity on the implementation of the National Health Insurance (NHI) to be primary items on top of his list. This comes as analysts and economists have questioned whether Ramaphosa’s Sona would give a true picture of the reflection of the state of affairs in the country, or it will simply be a repetition of the ruling party’s successes over the past 30 years with a view to the upcoming election. Ramaphosa faces a daunting task to inspire investor confidence on the back of low-growth trajectory, stubbornly high rate of unemployment, inequality, crime and corruption, decaying infrastructure, energy and…

AS PRESIDENT Cyril Ramaphosa today delivers his State of the Nation Address (Sona), he will have to deliver the best speech of his career: a well thought out strategic vision to enable South Africa to economically grow. South Africa, with a flat-lining economy, faces the triple challenge of poverty, inequality and unemployment. And as Ramaphosa steps up to the podium, the family approach will not win him any favours, nor will empty promises made to South African citizens, who are tired of the lack of service delivery, escalating crime and bad policy decisions, among other woes. Spinning out the old rhetoric of how far South Africa has come since apartheid just won’t cut it, nor distract from the real issues at hand, amid a cost of living crisis that has…

SOCIO-economic challenges are in the spotlight as President Cyril Ramaphosa tonight delivers this year’s State of the Nation Address (Sona), with participants in the youth sector calling for the president to outline an “actionable plan”. Nkosinathi Mahlangu, Youth Em- ployment Portfolio head at Momentum Metropolitan, said young people were hoping for solutions to the many socio-economic challenges they were faced with as there had been many promises made in the previous address, which were not kept. “The Sona comes at a time when the youth of South Africa is still battling with high unemployment and this is parallel to challenges on access to tertiary education for the matric class of 2023,” he said. Ravi Naidoo, the CEO of the Youth Employment Service (YES), said the prevailing economic environment in 2024,…