In The News South Africa

Reported R59 billion bailout to SoEs will worsen debt levels and impact SA ratings, says DA

CAPE TOWN, August 13 – Reports of a proposed bailout for parastatals by cabinet, especially the South African National Roads Agency (Sanral), will worsen South Africa’s precarious debt levels and negatively impact the country’s national sovereign ratings, the Democratic Alliance said on Sunday. “Cabinet’s argument that a Sanral default will affect sovereign ratings is flawed, […]

In The News South Africa

Eskom ropes in CCMA to mediate wage talks

JOHANNESBURG, July 31  – Eskom said on Tuesday that it has requested the Commission for Conciliation, Mediation and Arbitration (CCMA) to intervene and facilitate the protracted wage negotiations between the power utility and workers unions. “Eskom has sought the services of the Commission for Conciliation, Mediation and Arbitration (CCMA) to facilitate the engagement between the organisation and union […]

Business In The News South Africa

Eskom face risk of loadshedding as coal delivery disruption hits power stations

JOHANNESBURG, July – Eskom has reported that coal delivery at some of its power stations was disrupted due to a workers’ protest in the early hours of Monday morning, leaving the South African power utility at risk of yet another load-shedding. Eskom spokesperson Khulu Phasiwe tweeted that coal trucking at Majuba and Duvha power stations in Mpumalanga […]

Business In The News South Africa

National Treasury receives draft forensic report on Tegeta, China South Rail

PRETORIA, July 29 – The National Treasury has received the draft forensic report on alleged irregularities regarding Eskom’s coal supply contract with the Gupta-owned Tegeta and Transnet’s purchase of rail locomotives from China South Rail. “Further to the announcement of 4 August 2017, National Treasury has received the draft forensic report on the alleged irregularities […]