Star 2025-06-13

PIC, IDC, and DBSA have collectively invested R656 million into the SA Hydrogen Fund (SA-H2), also known as CI3 South Africa South Africa’s plans to accelerate the development of green hydrogen have received a major boost with several initiatives announced on Thurdsay, highlighting the country's commitment to renewable energy. The Public Investment Corporation (PIC), the Industrial Development Corporation of South Africa (IDC), and the Development Bank of Southern Africa (DBSA) have collectively invested R656 million into the South African Hydrogen Fund (SA-H2), also known as CI3 South Africa. This fund is pivotal in advancing the country's just energy transition (JET) and reinforcing its status as a global leader in green hydrogen. As part of this intensification of green energy initiatives, the IDC has joined forces with Germany’s KfW Development…

The mining industry in South Africa continued to face bleak prospects after output plunged more than expected in April, signalling the continued sinking of the productive sectors of the economy. According to data from Statistics South Africa (Stats SA) on Thursday, mining production slipped by 7.7% year on year in April following a revised 2.5% decline in March. This April reading was more than an expected 4.3% decline and pointed to the sixth consecutive month of downturn in the country's sector. Jean-Pierre Terblanche, principal service statistician at Stats SA, said the decline was led by a fall in the production of platinum group metals (PGM) which contracted by 24.1% from a decline of 9.9% in March. “Nickel, copper, gold and coal also performed poorly in April,” Terblanche said. “On the…

Minister of Agriculture, John Steenhuisen, has reaffirmed that the South African red meat industry must adhere to strict traceability systems and underpinned by a relentless focus on quality, transparency, and food safety. This comes as the country continues to grapple with the outbreak of the foot-and-mouth diseases (FMD). Underlining the significance of biosecurity, the Minister pointed out that abattoirs serve as essential checkpoints for public health and animal welfare. "If there are gaps in how we operate abattoirs, whether in hygiene, record-keeping, carcass classification, or worker safety, then we expose not only our markets but our communities," Steenhuisen said at the Red Meat Abattoir Association Conference in Cape Town on Thursday. "This is why, under my leadership, the Department of Agriculture is intensifying its inspection systems, modernising legislation, and…

Finance Minister Enoch Godongwana did not equivocate in this year’s third iteration of the national Budget Speech: government intends to channel long-term domestic savings – particularly pension funds – towards the country’s infrastructure and industrial development priorities. “We are also exploring alternative financing instruments,” he said, “to allow pension funds, commercial banks, development banks and international financial institutions to participate in financing our infrastructure plans.” The idea is not new. Proposals to more actively direct retirement savings into public interest sectors have circulated since the ANC’s 2017 policy conference, where the party raised the possibility of ‘prescribed assets’ to mobilise funding for social infrastructure. With the introduction of the two-pot retirement system, South Africa’s R5.8 trillion pension fund industry, spanning 4 904 registered funds, is well positioned to play an…

The gross domestic product (GDP) figures released by Statistics South Africa also indicated that the economy grew by 0.1% in the first quarter of 2025 following a downwardly revised increase of 0.4% in the fourth quarter of 2024. During a post-Cabinet media briefing on Thursday, Minister in the Presidency Khumbudzo Ntshavheni, said the government was now working to fine-tune the country’s industrial policy. “Cabinet remains concerned about the decline in the manufacturing industry, more so when the government has prioritised boosting local manufacturing and thus awaits the finalisation of the revised Industrial Policy,” Ntshavheni said. “The government understands the impact of the challenges within freight and logistics that continues to impact the growth of the mining industry, and we are maintaining a razor-sharp focus on the work of Operation Vulindlela…

The Congress of South African Trade Unions (Cosatu) has adopted a cautious stance following the recent passage of Budget 3.0, even as economists have largely welcomed the budget's provisions. On Wednesday, the budget, which outlines fiscal frameworks and revenue proposals for the 2025/26 financial year, was adopted by Parliament, marking a critical moment for South Africa’s economic management amid fiscal challenges. While Cosatu acknowledged certain important allocations, including the government's decision to retract a proposed VAT increase, which the union believed would have placed undue pressure on workers grappling with rising living costs, concerns linger over whether the budget will provide the economic stimulation required during this precarious time. “Cosatu cannot support tax hikes upon the working class and the poor, who are already highly indebted,” said the union federation…