State employees’ pension funds are safe
The Government Employees’ Pension Fund (GEPF) and Public Investment Corporation (PIC) has once again reassured its members and pensioners that their benefits and pensions are not at risk. “GEPF is invested in government bonds that are publicly traded, which allows interested investors to invest in them. It is worth noting... Read more
Minister orders deep dive Eskom probe
The Minister of Public Enterprises, Lynne Brown, has ordered a ‘deep dive’ independent investigation into Eskom’s affairs over the past ten years, as well as several short-term investigations by the new Eskom interim board. Opening the POWER-GEN & DistribuTECH Africa power sector stakeholder forum in Sandton this morning, the... Read more
SAA board will not cover up acts of criminality
South African Airways (SAA) will not cover up acts of criminality, the national carrier said on Monday. This as the airline’s board of directors noted a series of media reports that appear to be based on internal reports leaked to the media. “The SAA board of directors would like... Read more
Social Development, SASSA CEO agree to part ways
Social Development Minsiter Bathabile Dlamini and the CEO of SASSA, Thokozani Magwaza, have agreed to terminate the services of the latter. This after a consultative process led by the head of legal services, Advocate Nkosinathi Dladla, in terms of the provisions of his contract of employment. The department thanked... Read more
Brace yourselves for expected cold front
As winter takes hold over large parts of South Africa, Environmental Affairs Minister Edna Molewa has appealed to the citizens to keep warm as a cold weather pattern unfolds in the coming days. The South African Weather Services (SAWS) has confirmed that a cold front is expected to arrive... Read more
SMMEs happy with BAIC SA plant implementation
The Coega Development Corporation (CDC) announced that the BAIC SA investment in the manufacturing facility is earmarked to be completed within the planned timeframes. However, to achieve this, the construction of the Chinese automaker’s plant will have to be accelerated. During Phase 1 of the project (site preparation), managed... Read more
Two multi-million rand projects get underway at Coega
The Coega Development Corporation (CDC) announced that work has commenced on two of the projects worth over R1-billion at the Coega IDZ. The CDC earlier this year announced that investment projects worth over R1-billion are ready for implementation in the Coega IDZ. The three projects which include an R650-million... Read more
Board supports strategy to turn Eskom around
The Eskom Board has expressed support for the overall strategy by executive management to turn the company around. The power utility’s Board of Directors led by Interim Chairperson Zethembe Khoza expressed its support on the strides made by executive management in turning around the company’s operational and financial performance, and... Read more
Eskom signs US$1.5 billion loan with China Development Bank
Eskom today signed a US$1.5 billion (approximately R19.6 billion) loan agreement with the China Development Bank (CDB) at a signing ceremony held at Eskom’s head office Megawatt Park in Sunninghill, Johannesburg. The facility will form part of the financing of the Medupi Power Plant. Eskom’s Interim Group Chief Executive... Read more
Transformation in higher education institutions commended
Higher Education and Training Minister Blade Nzimande says the latest statistics, showing that more than two-thirds of students studying at the country’s higher education institutions are black Africans, is a cause for celebration. “It is very pleasing that despite our country’s difficult past, as well as the many challenges... Read more