South Africa News Updates < #NothingNewHere #Disastrous

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NEWS ROUNDUP
POWER TARIFFS
Municipal power tariffs come under the spotlight as July 1 deadline looms
The National Energy Regulator of South Africa (Nersa) will host a public hearing on June 3 into applications by those municipalities applying for average tariff increases above the guideline of 19% and 22%, which could be implemented from July 1. Nersa provided the guideline for this category of municipalities, among other guidelines, on March 25, when announcing its decision on Eskom’s required revenue application for the second multiyear price determination period, which will run from… Full Article
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ELECTRICITY
Eskom may lean on industry to ensure stable World Cup supply
An independent review of Eskom’s readiness to host a power-secure FIFA World Cup, conducted by the Korean Electric Power Corporation (Kepco), has concluded that the utility will be able to deliver reliable supply for the duration of the month-long tournament. Kepco, which had been central to ensuring supply during the 2002 FIFA World Cup, hosted jointly by Korea and Japan, said that the South African utility was “ready to perform a reliable power supply to key facilities”. Full Article
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INDUSTRIAL RELATIONS
Eskom does not expect World Cup strike
There will be no strike during the World Cup, national power supplier Eskom, said on Monday. “We have normal salary negotiations again on Thursday. If there are plans for any impending strike, I am not aware of it,” Erika Johnson, chief officer of customer network services at the parastatal told a press briefing in Germiston, Johannesburg. Full Article
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CORPORATE DISPUTE
Iron-ore, steel belligerents have reportedly met on possible interim pricing deal
South African iron-ore miner Kumba Iron Ore (KIO) and steel group ArcelorMittal South Africa (AMSA) have reportedly held recent meetings on the contentious issue of an interim supply agreement, which KIO argues needs to be in place to safeguard continued supply of material from the Sishen mine, in the Northern Cape. Full Article
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EMERGING ECONOMIES
Good case for inclusion of SA into Bric-nation club, Dlamini argues Video
South Africa has much to offer and gain from emerging economies, including Brazil, Russia, India, and China, dubbed the Bric countries, that currently make up around 42% of the world’s economy, said Old Mutual CEO Kuseni Dlamini on Monday. Speaking at a Swiss Chamber lunch in Johannesburg, Dlamini noted that even though South Africa did not share certain characteristics with the Bric countries, such as close-to-double digit growth numbers and large populations, the country still had a great… Full Article
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ROAD MAINTENANCE
R75bn needed as 40% of provincial roads reach ‘crisis point’ – Minister
South Africa required R75-billion over the next five years to maintain its road network, said Transport Minister Sibusiso Ndebele on Monday. Speaking at government’s Road Construction and Maintenance Summit, in Midrand, he noted that 40% of the country’s provincial road network had “reached crisis point”. In the Free State and Limpopo provinces the problem was especially bad, with 60% of roads in poor to very poor condition. Full Article
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ELECTRICITY
AfDB says tripling of capital to focus on power
When the African Development Bank triples its capital base to 0-billion next week, the top priority will be tackling Africa’s dire power shortages, the bank’s president said on Sunday. Infrastructure will make up about 60% of the bank’s projects and 60% of those will be for power, AfDB president Donald Kaberuka told Reuters in an interview ahead of the bank’s annual assembly on Monday in Abidjan. Full Article
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ELECTRICITY
Power pool systems could improve Africa’s security of supply
Regional power pools have the potential to improve the security of electricity supply in sub-Saharan Africa and the rest of the continent, but a lack of regulatory procedures and legal frameworks for the coordination of infrastructure development were hampering the process, growth consultancy Frost & Sullivan has found. The consultancy said on Monday that the current deficit in spare generation capacity of sub-Saharan Africa member countries, as well as national transmission and distribution… Full Article
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FINANCIAL RESULTS
PSV sees orders from private and public sectors picking up
AltX-listed industrial engineering group PSV Holdings expects trading conditions to remain tough in the coming months, but CEO Abie da Silva said that orders were coming in from both the private and public sectors in South Africa, as well as from Mozambique and Zimbabwe. Its current order book was valued at R110-million, with a further R120-million in prospective orders expected to be concluded in the next six months. Full Article
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STRIKE
Transnet strike enters third week, hits ports
Members of the biggest trade union at South African logistics group Transnet ended a strike on Monday, but the stoppage which has hit ports and railways dragged on after a smaller union rejected a revised pay deal. The strike, now in its third week, has curbed exports of metals, cars, fruit and wine to Europe and Asia, as well as imports of vehicle parts and fuel supplies three weeks before the soccer World Cup starts. Full Article
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TELECOMS
MTN Uganda sees explosive growth in mobile money
MTN Uganda, a subsidiary of South Africa’s MTN, expects users of mobile money services to grow by three-quarters by 2012 giving people in rural areas the chance to build businesses and safely transfer money. “It has grown to a scale we never expected,” Richard Mwami, head of mobile money at MTN Uganda told Reuters ahead of the GSMA’s Mobile Money summit in Rio de Janeiro, which kicks off on May 24. Full Article
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HIGHVELD STEEL
Highveld proposes name change to reflect Evraz brand
The directors of South African steel producer Highveld Steel and Vanadium were planning to change the name of the company to reflect the brand of its largest shareholder, the Evraz Group. In line with the Russian steel group’s strategy of rebranding all its subsidiaries under the Evraz identity, the South African company would be renamed to Evraz Highveld Steel and Vanadium. Full Article
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