Star 2023-09-22

ASTRAL Foods said yesterday that it was pursuing a court case to have the government pay poultry farmers for the forced culling of chickens that had been affected by avian flu as the industry suffers its “worst-ever” bird flu outbreak. The South African poultry industry is currently being ravaged by an outbreak of highly pathogenic avian influenza (bird flu), which is an airborne disease. In a pre-close briefing session held yesterday, Astral CEO Chris Schutte said: “We as producers are obliged to cull, or for a harsher word, kill birds that are infected simply as a control measure for the further spread of this disease. “The unfortunate thing is that South Africa, as it’s known for many things, is the only country in the world where all three producers (Astral,…

MINISTER of Electricity Dr Kgosientsho Ramokgopa has rallied the captains of industry to invest in the expansion of the transmission lines in South Africa as the government will be adding more renewable energy generation capacity to the grid. Ramokgopa said yesterday that the government would soon open Bid Window 7 of the Renewable Energy Independent Power Producer Procurement Programme (Reippp) to procure 9 200MW in a bid to alleviate the generation grid capacity constraints. If it happens, the opening of Bid Window 7 will come three months overdue as it was supposed to open in July, with Bid Window 8 opening in the fourth quarter of this financial year. The installed base of solar not contracted to Eskom or government programmes has leapt from 981MW in March…

Indebted consumers will have to endure an elevated cost of borrowing for a bit longer INDEBTED consumers will have to endure an elevated cost of borrowing for a bit longer as the South African Reserve Bank (SARB) maintained its hawkish monetary policy stance on sticky inflation concerns. SARB governor Lesetja Kganyago said yesterday that the bank’s Mone- tary Policy Committee (MPC) had decided to keep the repurchase rate at its current 14-year high level of 8.25% per annum. Three members of the MPC preferred to keep rates on hold and two preferred an increase of 25 basis points. Kganyago cited concerns about the continued depreciation of the rand and the ongoing multiplicity of supply-shock pressures on inflation as the key drivers behind the decision. He said in spite of headline…

LOCAL biopharmaceutical manufacturer Biovac announced yesterday that it signed a memorandum of understanding (MoU) with global South Korean-based manufacturer EuBio- logics, for the technology transfer of a meningococcal meningitis pentavalent conjugate vaccine. According to Biovac, this collaboration is a significant development for the company, as it would allow for the local production and distribution of a life-saving vaccine for use across Africa. The MoU was signed in Cape Town, while Biovac co-hosted the 24th annual general meeting of the Developing Countries Vaccine Manufacturing Network, which brought together vaccine manufacturers, global partners, and stakeholders from across the globe. “This collaboration represents the kind of partnership which is key for vaccine manufacturing to sustainably grow on the continent and improve health equity outcomes globally,” Biovac said. Meningococcal meningitis was a bacterial form…

By bohani hlungwane THE 15TH SUMMIT of BRICS nations was recently held in South Africa, during which many discussions were had regarding the trading bloc, its proposed expansion to include additional countries, how it could impact the relationship with the US, and the longer-term impact on the US dollar. While it is clear that the US dollar remains the de-facto currency for global trade, the current foreign currency liquidity shortage in some countries on the continent is a key trade issue which needs to be addressed and overcome in order for continued prosperous trade across the continent. Kenya, Ghana, Tanzania, Nigeria, and Angola have recently struggled with US dollar liquidity shortages, and this is creating a challenging operating environment in which to attract Foreign Direct Investment (FDI). Considering the resource…

TRANSNET, the State-owned logistics firm, has come out spitting fire over recent criticism of its performance even as unions met with the Minister for Public Enterprises Pravin Gordhan, to collaborate in charting a feasible turnaround plan for the entity. Transnet said yesterday it was aware of opportunistic elements who were using the current operational challenges faced by the organisation to further their own agendas, stating that as it addresses its challenges, it remained committed to authentic stakeholder engagement and collaboration. “However, it must be clear that those who owe Transnet money will have to pay, and the company will not be intimidated. Transnet will also no longer tolerate a distortion of public discourse by individuals who fail to disclose their true motive,” Transnet said yesterday. Last week the Durban Chamber…