Star 2025-12-08

Industry experts have delivered mixed views after the Ports Regulator of South Africa approved a lower-than-requested tariff increase for the National Ports Authority (NPA), granting an average rise of 7.57% for the 2026/27 financial year, below the 9.61% initially proposed by the Authority. Ports Regulator CEO Mukondeleli Johanna Mulaudzi said the NPA submitted its tariff application on 1 August 2025 in terms of Section 72 of the National Ports Act, seeking allowable revenue of R16.73 billion for 2026/27 and projecting tariff increases of 9.61% for the following two years. After assessing the submission, public inputs, presentations, and updated inflation figures from the Medium-Term Budget Policy Statement, the Regulator authorised a revenue requirement of R17.42bn. This includes an ETIMC allocation of R800 million, resulting in the weighted average tariff increase of…

Moody’s Ratings has reaffirmed its existing view on South Africa’s creditworthiness following a periodic review completed on 27 November 2025, cautioning that while economic conditions have improved, deep structural constraints continue to weigh on the country’s long-term prospects. The review, which did not constitute a ratings action, maintains South Africa’s long-term issuer rating at Ba2 with a stable outlook. This comes after S&P Global Ratings has announced an upgrade of South Africa’s credit rating, the first increment in almost 20 years. This upgrade signified a recognition of the country’s improved economic trajectory, buoyed by stronger revenue performance, enhanced growth prospects, and a gradual easing of pressures that have long beleaguered state-owned enterprises. Moody’s said South Africa’s rating reflects chronically low growth potential linked to ageing infrastructure, a weak labour market,…

The National Energy Regulator of South Africa (Nersa) has raised concerns that last week’s court judgment in its legal dispute with AfriForum over municipal electricity tariff timelines encroaches on the powers of the Minister of Finance as set out in the Municipal Finance Management Act (MFMA). Nersa also noted that the ruling was delivered without the National Treasury’s participation, despite its central role in municipal budgeting processes. Nomfundo Maseti, full-time regulator member for piped gas and acting member for electricity, said Nersa is likely to appeal the judgment but must, as a courtesy, inform the Minister of Finance of its implications, particularly the new court-imposed timelines, which she said are misaligned with MFMA requirements. "The court has made out these orders without an opportunity for those that are given powers…

PIC probes whether governance recommendations were falsely reported as implemented The Public Investment Corporation (PIC) has instituted an investigation into whether the recommendations of Judge Mpati on governance improvements at the entity were falsely reported as implemented by the previous CEO to Cabinet, deputy finance minister and chairperson of the PIC, David Masondo, has said. Responding to questions in Parliament on Friday, Masondo admitted that the PIC had been led to believe the recommendations had been fully implemented, but after persistent questioning from Parliament, the corporation had to initiate an investigation when no record of implementation could be found. “The report that went to the DTIC Minister said the implementation had been 100% done, but thanks to the persistence of MPs on this matter, we had to check our records…

South Africa’s agribusiness confidence bounced back in the final quarter of the year, rising by five points to 67 in the Agbiz/IDC Agribusiness Confidence Index (ACI), released on Friday. The improvement follows two consecutive quarterly declines and places the index firmly above the neutral 50-point mark, signalling renewed optimism across the sector. Wandile Sihlobo, chief economist at the Agricultural Business Chamber (Agbiz), said favourable production conditions and strong export performance underpinned the rebound. “Favourable weather conditions, strong exports throughout the year on the back of ample grains, oilseeds, and horticulture harvests, as well as better port efficiencies, are among the key drivers of optimism in the sector,” he said. He added that government’s announcement of a nationwide foot-and-mouth disease (FMD) vaccination campaign had also buoyed sentiment, given the long-running challenges…

An upward trend in intermediate input costs for South African miners is emerging, the Minerals Council said on Friday, even though overall input costs remain historically subdued. The Minerals Council said on Friday that the emerging trend of rising mining input costs is being driven by “higher prices for intermediate mining inputs, including iron ore—which is performing stronger” than a year ago. “These increases are putting pressure on costs where these and other minerals are used in intermediate processes. Additionally, there has been a notable rise in sawmilling and wood costs, electricity and water tariffs, and significant increases in road transportation costs,” said the Minerals Council. These factors, it explained, were collectively driving the upward trend in mining input costs that has been recorded over the past three months. Data…