Star 2025-12-01

South Africa’s state-owned power utility Eskom reported a sharp rise in interim profit on Friday, saying continued execution of its turnaround plan had strengthened both operational stability and financial sustainability, with profit after tax climbing to R24.3 billion in the first six months of its 2026 financial year. Eskom, which has for years struggled with plant breakdowns, chronic under-investment and mounting debt, said profit before tax rose 41% to R32.5 billion from R23 billion a year earlier, while Ebitda grew 11% to R68.5 billion. The utility said the improved results underline momentum built since the implementation of a multi-year recovery plan adopted in 2022. Loadshedding, which has hobbled Africa’s most industrialised economy for more than a decade, was limited to only 26 hours over evening peaks on four days during…

South Africa’s tax authority on Saturday rejected claims that it is responsible for a jet-fuel shortage in East London, saying an article alleging a “licencing crisis” at the South African Revenue Service (Sars) is inaccurate and misrepresents the facts. This was in response to an article published on News24 titled "East London airport down to one day's jet fuel amid Sar licencing crisis". The article, viewed objectively, seeks to apportion blame to SARS for delays in licencing jet fuel storage facilities in Durban and East London, Sars said.. “There is no licencing crisis at Sars,” the agency said, adding that Commissioner Edward Kieswetter had granted special permission on October 14, 2024 allowing the importation of aviation and illuminating kerosene from October 21, 2024 to October, 20 2025 to avert fuel…

The National Energy Regulator of South Africa (Nersa) has taken a major step toward reshaping the country’s electricity sector after approving the Market Operator licence for the National Transmission Company South Africa (NTCSA), along with the establishment of the Electricity Market Advisory Forum (EMAF) and the finalisation of Grid Capacity Allocation Rules. Announced on Friday, the decisions mark a historic milestone as South Africa moves toward a competitive electricity market over the next five years. The reforms follow sweeping changes introduced through amendments to the Electricity Regulation Act of 2006. Nersa said the Market Operator licence is a critical component in enabling the NTCSA to operate the future competitive electricity market, and forms part of preparations for the forthcoming Market Rules and Market Code. Under section 34B(3) of the amended…

Black traders warn that automatic leases could entrench dominance of access by foreign oil companies Oil major companies operating in South Africa will be compelled to give transformation partners greater access to key fuel infrastructure through a new Third-Party Access Framework being developed by Transnet National Ports Authority (TNPA). The framework will set clear rules for how third-parties can access strategic fuel facilities, how capacity is allocated, and the processes governing monitoring, dispute resolution, compliance, and enforcement. The move follows extensive engagement between government entities, oil majors, and black industrialists after concerns were raised about the impact of a Section 79 directive, which proposes the renewal of 25-year leases at Transnet’s Island View Precinct (IVP) in the Port of Durban versus the Section 56 determination that allows for an open…

South Africa once again occupied the global stage, not as a country in crisis but as host of one of the most complex diplomatic gatherings on earth. For two days, the G20 Leaders Summit unfolded on African soil forthe first time in history and the world watched a nation that has often been defined by its fractures reveal a different face: composed, disciplined, coherent and globally respected. This was more than logistics or protocol. It was a rare glimpse into the South Africa we are capable of being. Globally, the summit took place during deep geopolitical division. Major powers entered into disagreement on fundamental issues, yet South Africa delivered unity where paralysis had become the norm. Domestically, we continue to wrestle with unemployment, inequality, uneven service delivery and institutional fatigue.…

African finance ministers attending the 2025 Africa Investment Forum (AIF) have called for a decisive shift from highlighting potential opportunities to delivering execution-ready, investment-grade projects. Their message was clear: the continent’s transformation must be driven by private capital, not aid. Speaking during the Ministerial Dialogue on Accelerating Private Investment Through Conducive Enabling Environments, ministers from Côte d’Ivoire, Ethiopia, Guinea, Mauritania, Morocco and Zambia outlined the reforms required to strengthen investor confidence, improve regulatory frameworks and build resilient business environments capable of attracting long-term funding. Côte d’Ivoire’s Minister of Economic Planning and Development, Nialé Kaba, said Africa’s biggest obstacle remains project readiness. “Africa’s problem is that opportunities and projects are not mature,” she said. She highlighted Côte d’Ivoire’s progress, including simplified investment codes and single-window systems that have helped lift private…