News24Wire

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News24Wire

News24’s breaking news wire service brings you the latest South African, African and international news reports and press updates from newsrooms across the country. Powered by the country’s leading journalists, and headed by the News24 editorial team.

Moody’s places Transnet on review for ratings downgrade

14th November 2023 Moody’s Investors Service has placed Transnet on review for a potential credit ratings downgrade due to concerns over liquidity and refinancing risks for the struggling state-owned freight, port and logistics group. "Moody's views weakened liquidity as a governance-related risk. After the... →

While SA’s devastating bird flu outbreak abates, researchers work to eradicate virus

14th November 2023 Newly released research showed the potential of gene editing technology to break the back of the avian influenza virus which recently swept across South Africa, resulting in the culling of nine-million birds. The virus, commonly known as bird flu, is a global issue for the poultry industry, but... →

Gold One mine: Situation tense as police fire rubber bullets at protesting AMCU workers

13th November 2023 The situation remains tense at Gold One mine in Springs, with police firing rubber bullets and teargas at protesting AMCU workers. Workers affiliated with AMCU have been gathering at the mine since Sunday night, demanding a date for their union to be officially recognised as the majority union. →

SA debt stress: Govt scrambles to borrow more money

10th November 2023 The South African government, which is being forced to sell ever more debt than planned because it’s spending more than it makes, is unlikely to reverse this spiral any time soon - especially not ahead of an election, economists say. It emerged in the medium-term budget that over the next three... →

Finance Minister Enoch Godongwana

Koko's Kusile 'graft': Lead investigator faces blistering questions over case delays

9th November 2023 The lead investigator in the R2-billion Kusile Power Station corruption case has backtracked on his testimony that two German nationals accused in the matter will not be extradited to stand trial. On Thursday, the investigating officer continued to be cross-examined by the state. He is on the... →

Photo by Creamer Media
Former Eskom executive Matshela Koko

'There is nothing we can do.' Gordhan bemoans 'unreasonable' Chinese rail company

9th November 2023 "Transnet needs help," chairperson Andile Sangqu told MPs on Wednesday in an appeal to the government to take on some of its unsustainable debt burden and fund its turnaround plan. Transnet has a R135-billion debt burden with large redemptions due soon, including R8.3-billion in the first quarter... →

Minister of Public Enterprises Pravin Gordhan

Top US senator demands 'immediate' review of SA’s Agoa status

7th November 2023 A US senator has written a document proposing several amendments to legislation renewing the African Growth and Opportunity Act, including that there should be an immediate review of South Africa’s status for preferential trade access. Democratic Senator Chris Coons’s discussion draft for the... →

President Cyril Ramaphosa

Shipping giants hit SA containers with congestion charges amid massive delays at ports

7th November 2023 Shipping giants Mediterranean Shipping Company (MSC) and Maersk have announced a costly fee for congested vessels this December due to severe delays at South African ports. In its announcement, MSC said: "Due to congestion in the South African ports [and] generating difficult conditions to... →

Creecy: SA is pushing for money from rich countries to help with adapting to climate change

6th November 2023 As nations gather in the United Arab Emirates later this month for the global climate summit, COP28, South Africa and other developing nations will be calling for clear targets and funding to adapt to devastating climate impacts. "Since COP26 [in Glasgow, UK], we have been pushing for the setting... →

Forestry, Fisheries and Environment Minister Barbara Creecy

Medium-term budget in a nutshell: It’s going to hurt

1st November 2023 Treasury has been forced to make painful revisions to the latest Medium-Term Budget Policy Statement, which updates government’s spending plans over the next three years, after its expectations in the February Budget turned out to be over-optimistic. Government now expects to earn almost... →

Finance Minister Enoch Godongwana

Petrol, diesel price cuts confirmed for Wednesday

30th October 2023 The price of both grades of unleaded petrol (93 and 95) will be lowered by R1.78 a litre on Wednesday, while diesel wholesale prices will be cut by between 82c and 85c depending on the sulphur content. The maximum national retail price of paraffin will fall by R1.30 a litre, but the maximum... →

Big decreases in petrol, diesel prices expected for November

27th October 2023 A significant decline in petrol and diesel prices is expected for November, according to unaudited data from the Central Energy Fund. The data suggests that the price of unleaded petrol 95 will decrease by R1.97 a litre, and R1.92 for unleaded 93 diesel is expected to decrease by around 78c cents... →

'Out of ICU': Gordhan says Takatso deal will be concluded soon, as SAA launches Brazil route

27th October 2023 The South African Airways-Takatso deal is "pretty much still on," with hopes that it will be concluded either later this year or early next year, according to Public Enterprises Minister Pravin Gordhan. The minister was speaking at an event on Thursday night in Cape Town that marked the launch of... →

Public Enterprises Minister Pravin Gordhan

SA producer inflation races higher for the second month

26th October 2023 September’s annual producer price index accelerated for a second consecutive month to 5.1% from 4.3% in August. This was hotter than economists expected. The main contributor was food products, beverages and tobacco products, which increased by 4.4% year-on-year and contributed 1.1 percentage... →

'I'm not going anywhere' - Gordhan hits back at accusations of meddling at Transnet, Eskom

26th October 2023 While executives and board members at troubled State-owned enterprises Transnet and Eskom have resigned in recent weeks, Public Enterprises Minister Pravin Gordhan has rejected accusations that it is due to his "political meddling." The minister was responding to questions from members of... →

Public Enterprises Minister Pravin Gordhan

Transnet to lean on Treasury for R100bn turnaround plan

25th October 2023 Transnet is seeking more than R100-billion from the Treasury over the next two years, according to the turnaround plan produced by the board. The R100-billion includes a request that the Treasury take over a minimum of R61-billion of its debt and provide R47-billion in an equity injection or a... →

Anglo American hit with class action from coal miners over lung disease

24th October 2023 A new class action, on behalf of coal miners suffering from lung disease, has been launched against nine companies owned by Anglo American Group. This is the second in a series of class actions which Richard Spoor Incorporated – the attorneys representing the coal miners – is launching. The first... →

Miners are still underground at Gold One

24th October 2023 Thirty-six hours later, more than 500 miners at the Gold One mine in Springs, east of Johannesburg, are underground while unions continue to throw allegations against each other. Workers who want the Association of Mineworkers and Construction Union (AMCU) to be recognised as a union at the... →

Head of troubled coal line exits Transnet

23rd October 2023 In the latest in a slew of resignations, Transnet’s managing executive for the critical export coal line, Ali Motala, is leaving the embattled State-owned company. Several high-placed sources have confirmed Motala's departure from Transnet Freight Rail, although the terms of his departure remain... →

SA has R660-billion shortfall on its R1.5-trillion just climate transition plan

23rd October 2023 Despite wealthy nations’ pledged $R8.5-billion (approximately R150-billion) and further pledges and investments, South Africa faces a R660-billion financing shortfall for the just energy transition, expected to cost R1.5-trillion over five years. This was revealed by Forestry, Fisheries and the... →

Forestry, Fisheries and the Environment Minister Barbara CreecyForestry, Fisheries and the Environment Minister Barbara Creecy

Koeberg: New delay as reactor is prepared for startup

20th October 2023 The return of Koeberg's Unit 1 to commercial service has been delayed by a further 10 days as some critical tests are still to be completed before the reactor is started. The last date that Eskom provided for the return of Unit 1 from the extension of life project was 3 November. It is now... →

Photo by Creamer Media
Koeberg Power Station

Water systems improving but Rand Water says municipalities not meeting agreed targets

19th October 2023 Bulk supplier Rand Water says the Tshwane and Johannesburg metros have made strides towards improving their water supply - using fragile systems that have teetered on the brink of collapse. This after the City of Tshwane issued a mayday warning on Wednesday, urging residents to conserve water as... →

Lily Mine inquest finds owners failed to conduct proper risk assessments

19th October 2023 The Mbombela Magistrate's Court has found that owners of Lily Mine failed to conduct proper risk assessments - as required by the Mine Health and Safety Act - ahead of the tragic 2016 collapse which claimed three lives. On Thursday, Magistrate Annamarie van der Merwe handed down judgment in an... →

Inflation rises sharply, raising concern about interest rates

18th October 2023 Annual consumer price inflation ticked up to 5.4% in September from 4.8% in August, the second consecutive increase. It was in line with economists' expectations. The main contributors to the increase were food and non-alcoholic beverages, which increased 8.1% year-on-year, housing and utilities,... →

Eskom sub-contractor arrested for allegedly soliciting bribe from coal truckers

17th October 2023 An Eskom sub-contractor was arrested last week for allegedly trying to solicit a bribe from a coal transport company at the Camden power station in Mpumalanga. The suspect, who was arrested on 11 October, was a sub-contractor for the power utility's Eskom Rotek Industries subsidiary, which does... →

For now, it looks like fuel prices might be cut in November

17th October 2023 Based on the current oil, international fuel and rand prices, the latest data from the Central Energy Fund shows that petrol prices could be cut by around R1.90 a litre in November, while diesel prices could be lowered by between 69c and 75c a litre. However, there are still more than two weeks... →

Former Eskom employees targeted in Sars coal syndicate raids

12th October 2023 The South African Revenue Service led a large-scale government search and seizure operation against several alleged members of coal smuggling syndicates across the country on Thursday, including former Eskom employees. "The alleged coal-smugglers and their related entities are active and have a... →

Sars Commissioner Edward Kieswetter

Consumer goods body counts cost of loadshedding, poverty, failing infrastructure

12th October 2023 The consumer goods industry's largest representative body warned on Wednesday that the cost of load shedding, failing infrastructure and rising poverty were a "potentially lethal cocktail" requiring urgent action by the government. But the Consumer Goods Council of South Africa, which represents... →

Consumer Goods Council of South Africa co-chair Gareth Ackerman

#UniteBehind launches court battle for Cape Town railway control

12th October 2023 Civil society organisation #UniteBehind has launched a court bid to compel the Passenger Rail Agency of South Africa (Prasa) to hand over the running and management of the railway system in the metro to the City of Cape Town. #UniteBehind filed court papers at the Western Cape High Court,... →

ANC MPs admit state entities are getting worse as AG slams Gordhan's dept

12th October 2023 The Department of Public Enterprises (DPE) has received an abysmal audit report from the Auditor-General (AG), which highlighted basic failings in its oversight of state-owned companies from ineffective turnaround plans to failing to fill vacancies and spend its budget. The AG also singles out... →

Public Enterprises Minister Pravin Gordhan

South Africa's population swells to 62-million

10th October 2023 In the last decade, the population in South Africa has increased by around 10 million people, with a total of 62 million people living in the country, according to the 2022 census. Statistics South Africa released the fourth democratic census on Tuesday. The last census was published in 2011. →

Eskom corruption: Scopa gives top cop 'last chance'

10th October 2023 Parliament's Standing Committee on Public Accounts has resolved to request retired South African Police Service Brigadier Jap Burger one more time to voluntarily appear before the committee on matters related to corruption at Eskom or face a subpoena. It is rare for Parliament to use its powers... →

Photo by Donna Slater
Former Eskom CEO André de Ruyter

R2bn Kusile corruption case: Court holds hearing to establish if State has its ducks in a row

5th October 2023 The lead investigating officer in the R2.2-billion Kusile corruption case involving former Eskom executive Matshela Koko, has begged the Middleburg Specialised Commercial Crimes Court in Mpumalanga not to strike the matter off the roll. The officer, who cannot be named in terms of a court order,... →

Johannesburg bridge collapse: Safety MMC says it was a 'disaster waiting to happen'

5th October 2023 The City of Johannesburg's MMC for Public Safety, Mgcini Tshwaku, warned that the collapse of a pedestrian bridge on Wednesday would have turned into a major disaster if it occurred during peak hour. The bridge, owned by the Passenger Rail Agency of South Africa (PRASA), collapsed while people... →

Transnet rail CEO Siza Mzimela has resigned

5th October 2023 The CEO of Transnet Freight Rail (TFR) Siza Mzimela has resigned. Mzimela sent out a letter to staff on Thursday reminding them of the progress made in the past three years, thanking them for their service, and urging them to not give up the fight to make TFR work. →

Eskom, SAA and others miss deadline to finalise financial statements

4th October 2023 Four state-owned enterprises – Eskom, South African Airways, Denel, and Alexkor – as well as the UIF, the Compensation Fund, and the National Student Financial Aid Scheme have missed the deadline to file their annual financial statements in Parliament. Under the Public Finance Management Act,... →

Bird flu: Poultry industry warns that possible temporary import rebates could destroy it

4th October 2023 The government is considering a temporary rebate on poultry meat import duties to mitigate South Africa's worst-ever bird flu outbreak, but this has elicited a warning from the South African Poultry Association that it could be the "final straw" for a local industry also battered by load... →

'There is just zero engagement': City of Cape Town won't back down in fight for railway control

3rd October 2023 The City of Cape will not back down from its fight with the national government to devolve railways to capable metros. So says Cape Town Mayor Geordin Hill-Lewis, who spoke to journalists shortly after addressing stakeholders at the Urban Mobility Summit, which kicked off on Tuesday at DHL Stadium. →

Cape Town Mayor Geordin Hill-Lewis

More painful petrol, diesel hikes confirmed for Wednesday

3rd October 2023 Motorists can expect hikes of over R1 for all grades of fuel from Wednesday. The unleaded petrol price (95) will be hiked by R1.14 a litre, while 93 will be increased by R1.08. Diesel (0.05% sulphur) will be hiked R1.96 a litre, while 0.005% sulphur will jump by R1.96, the department of mineral... →

'Transnet execs must go now.' Cosatu adds pressure as deadline looms

29th September 2023 As a sword hangs over the heads of top Transnet executives, group CEO Portia Derby and head of Transnet Freight Rail Sizakele Mzimela, the Congress of South African Trade Unions has turned up the heat and called publicly for the company's top management to go. At the beginning of September,... →

Photo by Bloomberg
Transnet group CEO Portia Derby

No daytime loadshedding expected over the weekend

29th September 2023 Due to the sustained improved performance of generation availability as well as the anticipated lower demand over the weekend, loadshedding will be suspended between 05:00 and 16:00 on Saturday and Sunday, Eskom said on Friday. Stage 2 loadshedding will be implemented from 16:00 until 05:00 on... →

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