Cape Times 2024-06-07

ANALYSTS have warned that South Africa is between a rock and a hard place, with future economic progress and stability hinged on the decisions political leaders make before the swearing in of the new government adminis- tration later this month. It’s a process that was rendered strenuous when the ANC failed to win the required 50% majority in the May 29 elections, in a bid to retain its governance mandate. South Africa is holding its breath that the ANC does the right thing by coming up with a governance framework which requires the participation of one or more rival political parties. The fact that the ANC differs ideologically with the parties is making the job and choices all the more difficult, yet it is on the economic, international trade and…

NOA GROUP Holdings (NOA) has reached a 497GW/h energy supply agreement with Tronox Holdings, which has titantium dioxide pigment operations in KwaZulu-Natal and the Western Cape, and which is South Africa’s biggest private wheeling agreement to date. The agreement extends Tronox’s renewable energy penetration to above 70% of its electricity requirements, and it underscores NOA’s model of aggregating power from a fleet of generation facilities across the country, to be supplied to Tronox’s operating sites in South Africa. South Africa’s fast deregulating electricity sector, sped along by load shedding, has seen Eskom develop a model to allow renewable electricity wheeling and which will allow NOA, an integrated energy company, to provide renewable energy from wind and solar facilities nationwide to customers in the commercial and industrial sectors. “This model represents…

THE RAND SLOWLY gave up some gains and hovered around the R19 mark to the dollar for the better part of the day yesterday as talks over the uncertainty of the next government, which may turn out to be a coalition of some sort, continued behind closed doors. News emerged this week that the ANC could look at a government of national unity, which would see several parties invited to rule alongside it, following its historic loss of parliamentary majority in the general elections last week. At the same time, there was a large amount of buzz as to whether a coalition government will be formed or a government of national unity. The market sentiment turned even more cautious yesterday, following the proposal of a government of national unity, which…

ROGUE independent auditors and auditing firms in South Africa will be facing hefty penalties of up to R25 million, which could put them out of business, if they are found guilty of improper conduct as the National Treasury tightens controls. The Minister of Finance Enoch Godongwana yesterday gazetted the latest notice of maximum fines for registered auditors found guilty of improper conduct after the notice of maximum fines previously gazetted in June last year was withdrawn in January. Following a 30-day comment period and having reviewed the written comments received by the Treasury, the Minister determined new maximum fines that may be imposed on registered auditors found guilty of improper conduct: ■ R5m per charge, as the amount envisaged in Section 51(2) of the act, which may be…

IN THE WAKE of South Africa’s recent elections, coalition talks have become the focal point of the political landscape. Among the many pressing issues on the table, the National Health Insurance (NHI) bill stands out as a topic of critical importance. Imagine a South Africa where the wealth of one’s wallet does not dictate the quality of health care they receive – a nation where every citizen is guaranteed not just care, but care that upholds dignity and promotes health. This is the promise of the NHI bill. However, as a medical professional and academic, I see the NHI bill through a pragmatic lens, where good intentions must be met with robust planning and transparent governance. The vision of universal access At its core, the NHI bill aims to provide…

SOUTH Africa’s telecommunications industry continued to lag behind other industries such as banking, insurance and retail, with a negative net sentiment score of -18.8%, according to research. The annual South African Telecommunications Sentiment Index, released yesterday by PricewaterhouseCoopers (PwC) South Africa in collaboration with DataEQ, showed the telecommunications industry continues to face significant challenges in consumer sentiment. The index was compiled from social media data and reflects the net sentiment score of local consumers toward their telecommunications service providers. Operational sentiment was said to be negative across the board, signalling an industry-wide issue with crucial business activities such as customer service and network availability. Elmo Hildebrand, PwC Africa tele- communications leader, said while complaints over network quality were often impacted by external factors such as load shedding, a significant share…