Energy

31 December 2024

2025 a year of “great hope” – President Ramaphosa

Location: News

2025 a year of "great hope" - President Ramaphosa

President Cyril Ramaphosa has called on all South Africans to rally together for a better future for all in the New Year.

The President was addressing the nation on Tuesday afternoon on New Years’ Eve.

“As we can embark on a New Year, I call on each and every South African to be part of the journey towards a better future for all. I wish you all a peaceful and prosperous New Year in 2025,” he said.

Looking back
President Ramaphosa called 2024 a year of “change and progress”.

He remarked that this year, South Africans celebrated “the progress made in building a society founded on the ideals of freedom, equality and human rights” as 30 years of Freedom was marked in April.

This was demonstrated in the free and fair elections held this year.

“On the 29th of May 2024, we held our seventh democratic elections peacefully and freely. As the people of South Africa voted for the representatives of their choice, they gave voice to their concerns, their aspirations and their concerns.

“Our people, through their votes, called on political parties to put their differences aside and to work together to put South Africa first. As elected public representatives and acting on the outcomes of the elections, that gave no single party an outright majority to govern South Africa on its own, we heeded the clear message from our people.

“We established a Government of National Unity [GNU], bringing together parties from across the political spectrum. This…GNU, made up of ten political parties committed through the Statement of Intent it adopted to grow an inclusive economy and to create jobs,” he explained.

President Ramaphosa added that the GNU also committed to reduce poverty and lower the cost of living.

“The parties are all working to strengthen the capacity of the State and to deliver services to our people. The outcomes of the May 2024 elections and the establishment of the [GNU] have really enabled South Africa to enter a new era that holds great promise.

“Our economy is slowly but steadily improving, more South Africans are finding jobs. Inflation has been falling making essential goods more affordable for households,” he said.

He also highlighted “increased investment” in roads, rail, public housing, energy, water and sanitation and infrastructure as well as improved business confidence to invest.

“As this happens, more jobs will be created, more livelihoods will be supported, and more local businesses will be sustained. The far-reaching reforms that we started in the Sixth Administration are beginning to show results.

“We are emerging from a debilitating energy crisis that cost immense hardships for our people, households and businesses. Our logistics sector, which is critical to the functioning of our economy has shown notable improvement following the corrective initiatives that we embarked upon in partnership with business, labour and Transnet,” he said.

Those initiatives, the President explained, will “encourage greater investment and make them more efficient”.

Fighting crime

President Ramaphosa said focused efforts – through Operation Shanela and others – have resulted in law enforcement dealing decisively with organised crime, illegal mining, extortion and other priority crimes.
Furthermore, the fight against gender-Based violence (GBV) has also been placed on sharp focus.

“We have strengthened the capabilities of the criminal justice system and improved support for survivors of [GBV]. However, our primary focus must remain on the prevention of [GBV] against young girls and the women of our country.

“Working with civil society…we continue to call upon men and boys to stand at the forefront of changing attitudes and behaviour towards the girls and the women of our country,” he said.
Moving forward

The President acknowledged that South Africa still faces challenges that must be overcome.

“As much as we have made progress, we have to do much more to overcome the challenges that confront our nation. We need to work urgency and purpose to grow our economy and create jobs,” he said.

President Ramaphosa described the year ahead as one that should be looked at with “great hope” by all South Africans.

“As a people, our unity, determination and resilience has seen us through hard and difficult times. Just as this has been a year of great change, we look to the next year with great hope. We will be embarking on a National Dialogue, bringing all South Africans together to develop a common vision for the country.

“In 2025, we will be hosting the very first G20 Summit on African soil. Through our leadership of the G20, we will work for solidarity, equality and sustainable development. That will have an impact on many peoples around the world in various countries.
“May God continue to bless South Africa and protect her people,” President Ramaphosa concluded. – SAnews.gov.za

NeoB
Tue, 12/31/2024 - 17:57

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31 December 2024

Eskom Synchronises Koeberg Nuclear Power Station Unit 2 With National Grid

Location: Business

Tuesday, 31 December 2024: Eskom has successfully synchronised Unit 2 of the Koeberg Nuclear Power Station in Cape Town to the national grid yesterday, marking a significant milestone in the Generation Operational Recovery Plan and South Africa’s pursuit of a dependable, cost-effective, and environmentally sustainable energy supply. This achievement follows an extensive Long-Term Operation (LTO)...

30 December 2024

No load shedding implemented for nine months

Location: News

No load shedding implemented for nine months

Eskom has now reached more than nine months without having to implement load shedding.

This, the energy utility said, marks a significant milestone in its “commitment to providing reliable electricity to South Africa”.

“As of [Friday] Eskom has successfully completed over…275 consecutive days...without implementing load shedding since 26 March 2024. This achievement underscores Eskom’s dedication to addressing the country’s energy challenges through its investment in the Generation Recovery Plan and enhanced maintenance protocols.

“Eskom continues to utilise the December summer break to increase planned maintenance activities to further improve the reliability of its generation fleet as many industries have shut down for this period, with maintenance averaging at ~8 000MW,” the power utility said.

Eskom explained that its Generation Recovery Plan has made significant improvements in performance “particularly by reducing unplanned outages by ~8.1% compared to the same period last year.”

“Additionally, there was a year-on-year diesel savings of R16.20 billion, which is about 65.1% less than the R24.89 billion spent during the same period last year. Diesel usage remains below the year-to-date budget.

“In August, Eskom shared its summer outlook for the period from 01 September 2024 to 31 March 2025, predicting a likely scenario of a load shedding-free summer, including the festive season, due to structural generation improvements. This outlook remains unchanged,” Eskom said. – SAnews.gov.za

NeoB
Mon, 12/30/2024 - 10:07

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27 December 2024

Eskom’s Year-On-Year Diesel Savings of R16.20 Billion

Location: Business

Friday, 27 December 2024: Eskom has reached a significant milestone in its commitment to providing reliable electricity to South Africa. As of today, Eskom has successfully completed over nine months (275 consecutive days) without implementing loadshedding since 26 March 2024. This achievement underscores Eskom’s dedication to addressing the country’s energy challenges through its investment in...

27 December 2024

Mozambique Prepares to Tap into Liquefied Natural Gas (LNG) Potential

Location: Business

With plans underway to restart construction of the delayed $20 billion Mozambique LNG project, which promises to produce 13.1 million tonnes of LNG per year for domestic use, it has never been more important to prioritise peace and stability in Mozambique. Following the 2024 general elections, violence during protests has rocked the country, leading to unrest and instability. As the voice of Africa's energy sector and an advocate for Mozambican prosperity, the African Energy Chamber (AEC) (www.EnergyChamber.org) fully supports the country's government and calls for peace, stability and sustainable development as Mozambique enters a new era of energy growth.

Since the discovery of significant natural gas deposits off Mozambique's northern coast in 2010, expectations for the country's economic prosperity have soared. An IMF report predicted $500 billion in total revenues by 2045 and average annual real GDP growth of 24% from LNG exports between 2021 and next year. Energy majors TotalEnergies, ExxonMobil and Eni are developing integrated LNG projects, while new upstream companies are entering the market and gas-to-power projects are nearing completion.

Projects such as Coral Sul LNG, the Rovuma LNG facility and the Temane gas-to-power plant have the potential to attract billions of dollars in investment and revenues while providing stable energy to over 2 million homes by 2030. These developments represent not only a success story for international investors, but also a success story for Mozambique. The country is positioned as one of the most dynamic gas markets on the African continent, with offshore reserves that could push it into the world's top ten producers, accounting for up to 20% of African production by 2040.

Geopolitically, these industrialization efforts could benefit the Southern African region as a whole and transform the country into an energy hub for neighboring countries such as Zimbabwe, Tanzania, Zambia, Malawi, Swaziland, and South Africa. In addition, a 2,700 km coastline along the Indian Ocean makes Mozambique a gateway for ships crossing the hemisphere, allowing it to specialize in efficient and global energy production while diversifying access to quality goods at low prices from markets in Asia, India, Europe, and America.

For Mozambique to realise its immense potential, however, it is essential that the country remains firmly committed to political stability and sustainable development. A peaceful and stable environment is the foundation on which the international community can confidently build long-term partnerships, ensuring that the immense opportunities presented by the development of its natural resources translate into tangible benefits for all. Mozambique's journey to becoming a leading energy producer is intimately linked to its ability to promote unity, security and democratic principles. A sustained commitment to peace will not only reassure international investors, but will also strengthen the country in a way that drives broad-based prosperity for its people and solidifies its role as a key player in Africa's energy future.

“Peace and stability are essential for Mozambique to unlock its immense economic potential. As the country emerges as a global energy hub, the confidence of the international community rests on a unified and secure nation. A commitment to peace will not only ensure the success of the multi-billion dollar energy projects, but will also ensure long-term prosperity, driving sustainable growth for Mozambique and the entire Southern African region. To achieve this, the government must find common ground and reach agreements that translate into long-term benefits for all the people of the country,” said NJ Ayuk, Executive Chairman of the AEC.

In the interest of Mozambique's prosperity, social well-being and economic development, the AEC calls on the government and opposition to strike a balance and commit to post-colonial and post-conflict stability. Mozambique is at a crossroads: one path leads to increased instability, while the other has the potential to transform the country into a trusted partner in the global energy community.

Distributed by APO Group on behalf of African Energy Chamber.

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African Energy Chamber

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24 December 2024

Deputy President wishes nation a safe festive season

Location: News

Deputy President wishes nation a safe festive season

Deputy President Paul Mashatile has urged all road users to adhere to the rules of the road as holiday makers travel around the country, to ensure a safe festive season.

“[We] urge those who are driving during this period to please adhere to the rules of the road. Don’t drink and drive, no speeding, wear seat belts and take time to rest when driving long distances. We want everybody to arrive alive at their destinations,” he said in a recorded message to the nation.

Deputy President Mashatile called on all citizens not to partake in excessive alcohol use during the holiday season.

“During the festive season, we must be mindful of alcohol and substance abuse. While celebration brings joy, it can also lead to overindulgence and unhealthy behaviours.

“Excessive drinking can impair judgment and cause accidents, especially on the roads. Alcohol and substance abuse can cause conflicts, leading to strained relationships in families.

“We urge all South Africans to remain responsible this festive season not to drink and drive. Drinking and driving endangers the lives of passengers, pedestrians, and other road users,” he said.

Deputy President Mashatile appealed to communities to remember the less fortunate over the festive season.

“As we celebrate…let us remember the families who are grieving the loss of their loved ones during the year. Let us also remember those who died on our roads; those who were victims of crime; and those who succumbed to various illnesses.

“To those who are in hospitals, we extend our best wishes and speedy recovery. We should remember those who are the less fortunate and share whatever we have with them so they too can feel the love and compassion as we engage in festivities,” he said.

Tackling challenges

Reflecting on the year that was, the Deputy President described 2024 as a significant one for the country.

“The year 2024 was an important year to all South Africans as we celebrated 30 years of democracy. South Africans were engaged in many activities that continued to make our democracy vibrant and make us remain a resilient nation.

“This year was also in some respect a turbulent one for many South Africans with wavering events that tested our resilience and unity as a nation. I would like to thank all South Africans for having participated in free and fair elections on the 29th of May this year. The outcome of this election sent a clear message to political parties in Parliament to work together to find solutions to the problems that our people are facing,” he said.

Deputy President Mashatile acknowledged the current economic challenges facing the country.

“Our economic challenges remain a constant feature in our struggle to reduce the cost of living. We remain committed to bringing under control the rising cost of transport, electricity and the cost of food that has become a huge burden to many South Africans.

“The Quarterly Labour Force Survey for the third quarter of 2024 showed a significant decrease in unemployment, yet millions remain unemployed.

“According to a World Bank report, our nation continues to be one of the most unequal societies in the world,” he said.

He assured that government is working on and implementing solutions to those challenges.

“Government is implementing plans to ensure inclusive economic growth to create jobs and has invested significantly in the social wage package to reduce inequality and address the worst effects of poverty.

“This package includes free basic services - health, education, and social housing for the poor, as well as extensive social security grants for the elderly and other vulnerable groups in our communities,” he said.

The Deputy President gave a nod to government’s “intensified efforts to attract investment by raising investor’s confidence in the economy”, the efforts to end load shedding and government’s work to resolve other challenges.

“This is the first winter that we spent without load shedding in five years. We thank the men and women in the Public Service for their hard work. We also thank the private sector for their contribution as we continue to keep the lights on and invest in Renewable Energy as we move towards the Just Energy Transition (JET).

“President Cyril Ramaphosa has established the Water Task Team this year to address water challenges in various parts of the country.

“Government has also intervened to deal with the problem of illegal spaza shops and selling of illicit goods and food to communities. Many were affected by food- borne illnesses that saw many children lose their lives. Government has also adopted stringent measures to combat crime, corruption and also curb the illegality of Zama-Zamas,” he said.

On Gender Based Violence and Femicide, Mashatile urged communities to work with government to root out the scourge.

“We recently concluded the 16 Days of Activism for No Violence Against Women and Children, which underscores our collective responsibility to combat the scourge of Gender Based Violence and Femicide.

“However, sixteen days are not enough; we must come together as communities to address and combat GBVF throughout the entire year. We commend men who are participating in the “BETTER MAN 4 TOMORROW” campaign and stood up to commit against GBVF, HIV/AIDS, TB and STI’s. We urge more men to partake in this campaign,” the Deputy President insisted.

Reflecting on the good

Mashatile took time to acknowledge the efforts of South Africans from all sectors who contributed to raising high the national flag.

“Let me extend our gratitude to the civil servants and frontline workers who have worked tirelessly throughout the year. We also wish to pay tribute to thousands of matriculants who are awaiting their results. We are confident that you have done your best and will make us proud.

“Team South Africa represented the nation at the 2024 Olympic and Paralympic Games in Paris, France, and won six medals. The Springboks are now ranked number one in Men’s Rugby in the world and Bafana-Bafana have qualified for the Africa Cup of Nations. We are also closing the year on a high note, celebrating the historic double victory of the South African Women (SPAR Proteas) and Men’s Netball Teams.

“We also congratulate Tyla for winning a Grammy Award and applaud her contribution towards making South Africa to be recognised on this global platform,” he said.

The Deputy President wished the nation happy holidays as the year draws to a close.

“I urge every one of us to continue to work together to build a truly non-racial, non-sexist, and prosperous South Africa, united in our diversity.

“On behalf of the South African government, I wish you a merry Christmas and prosperous New Year,” Deputy President Mashatile concluded. – SAnews.gov.za

NeoB
Tue, 12/24/2024 - 10:23

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23 December 2024

Preferred bidders chosen for renewable energy bid windows

Location: News

Preferred bidders chosen for renewable energy bid windows

Eight solar PV projects – with a combined contracted capacity of some 1 760MW – have been appointed as preferred bidders under the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) Bid Window 7.

A further eight projects have also been appointed through the Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP) Bid Window 2.

REIPPPP Bid Window 7

The Department of Electricity and Energy on Monday said the eight solar projects were appointed from a pool of some 48 bid responses.

“Total investments from the eight Solar PV Preferred Bidders in this Bid Window is R31.4 billion. South African Equity Participation of 49% across all the Preferred Bidders and average Black Economic Empowerment participation of 46% have been committed in this Bid Window,” the department said.

Some 6 971 job opportunities – measured in job years – are expected to be created through the projects.

“These projects will allocate 38.8% of their total project costs to local content, equating to R7.8 billion during construction and R2.4 billion during the operation and maintenance phases.

“The preferred bidders have also undertaken to invest R3 billion in Black Enterprise Procurement, R2 billion in B-BBEE Procurement on Qualifying Small Enterprises (QSEs) and Exempt Micro Enterprises (EMEs), and an additional R333 million in B-BBEE Procurement, specifically for black women.

“Furthermore, the preferred bidders have undertaken to spend a total of R73 million in Enterprise Development, R129 million in Socio-Economic Development, and R138 million in Skills Development initiatives over the lifetime of the projects,” the department said.

BESIPPPP Bid Window 2

The department said it received 31 bid responses for BESIPPPP Bid Window 2, with the eight chosen bidders coming with a combined total investment of some R12.8 billion.

“The eight preferred bidders have committed to 41% black shareholding in the IPP Project Companies, up to 27% shareholding by construction contractors, and up to 36% in operations contractors.

“The preferred bidders have committed to creating a total of 1 570 job opportunities for RSA citizens – measured in job years – during construction and operations.

“These projects will allocate 31% of their total project costs to local content, equating to R2.6 billion during construction and R2.5 billion during the operation and maintenance phases,” the department said.

A further R1.8 billion will be invested in Black Enterprise Procurement, R1.4 billion in B-BBEE Procurement on Qualifying Small Enterprises and Exempt Micro Enterprises, and an additional R659 million in B-BBEE Procurement, specifically for black women.

“The preferred bidders have also committed to spend R316 million on supplier development, skills development, bursaries for black students, skills development for black disabled people, and socio-economic development initiatives over the lifetime of the projects,” the department concluded. – SAnews.gov.za

NeoB
Mon, 12/23/2024 - 13:08

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23 December 2024

Eskom ‘lessons’ can be a template for SOEs

Location: News

Eskom 'lessons' can be a template for SOEs

South Africa is currently experiencing the longest period without load shedding in the last five years.

This, according to Electricity and Energy Minister, Dr Kgosientsho Ramokgopa, who briefed media on Monday.

Eskom has marked more than 270 days without implementing the rolling power outages, with load shedding last implemented in March this year.

“We are recording another milestone in that we are experiencing the longest stretch of uninterrupted power supply in five years. It is an important milestone. We are not celebrating the fact that we have not had load shedding for 272 days… We are simply marking the point that in terms of our quest to end load shedding, it’s important that we are able to take account of these small milestones.

“These are small steps that are going to be able to contribute to a giant leap that we want to achieve… to ensure that we have sufficient capacity that will support the growth of the South African economy,” Ramokgopa said.

Eskom has managed to reduce its unplanned outages by some 8% compared to last year – improving the generation performance of these stations.

The power utility has also recorded year-on-year diesel saving costs of at least R16 billion.

The Minister acknowledged the ongoing hard work by Eskom employees to turn around the fortunes of the power utility.

“We started from a low base. In the financial year 2024… we have seen the highest intensity of load shedding, in terms of the number of days and the number of hours that the country was subjected to periods of no electricity.

“[This], taken with the financial performance, Eskom recorded a significant loss but also is showing that as a result of improved performance, our projection is that we should be – at a minimum – achieving a surplus at the end of [this] financial year,” he said.

Ramokgopa said the “Eskom lessons” can be used to “generate a template on how [we] are able to recover from a very difficult situation”.

“It’s a template you can take to any of the SOEs [State-owned Enterprises]... of course, adapt it to the nuances of that particular SOE. But I think there are transversal experiences that can be drawn from the Eskom experience,” he said. – SAnews.gov.za

NeoB
Mon, 12/23/2024 - 11:45

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20 December 2024

Loadshedding Remains Suspended for 268 Days, Resulting in R16.06 Billion Year-On-Year Diesel Savings, and Maintenance Increased as Industry Closes for Summer Break

Location: Business

Friday, 20 December 2024: The investment in the Generation Recovery Plan continues to enable the suspension of loadshedding, with 268 consecutive days achieved since 26 March 2024. Eskom is utilising the December summer break to increase planned maintenance activities to further improve the reliability of its generation fleet as many industries have shut down for...

20 December 2024

Eskom Supports Bail Denial for Fochville, Gauteng, Farmer in Illegal Electricity Case Estimated to Have Caused R6.6MILLION Loss

Location: Business

Friday, 20 December 2024: The suspect arrested in connection with a large-scale illegal electricity operation uncovered in Leeupoort near Fochville in Gauteng earlier this month, has been denied bail and will remain in custody at the Klerksdorp correctional facility until the next court appearance, scheduled for 28 March 2025. Eskom supports the court’s decision as...

19 December 2024

R20-Million Water Project Fails to Quench Limpopo Villagers’ Thirst

Location: News

Households now rely on a single diesel-powered borehole or have to buy water

19 December 2024

President Ramaphosa signs National Nuclear Regulator Amendment Bill into law

Location: News

President Ramaphosa signs National Nuclear Regulator Amendment Bill into law

President Cyril Ramaphosa has signed into law the National Nuclear Regulator Amendment Bill, which provides for nuclear safety oversight, ranging from the decontamination of defence facilities, to airline pilot safety.

The National Nuclear Regulator Amendment Bill marks a significant step in enhancing nuclear safety and aligning South Africa with global regulatory standards.

The Amendment Bill amends the National Nuclear Regulator Act of 1999 to align it with current international regulatory best practices as determined by the International Atomic Energy Agency (IAEA).

“This alignment is necessary because South Africa is one of the founding members of the IAEA and is a signatory to various international conventions governing nuclear safety, as promulgated by the IAEA.

“The law gives the National Nuclear Regulator additional functions and provides for the decontamination, decommissioning and closing of national defence force facilities, equipment, machinery and scrap for civilian use,” the Presidency said in a statement on Wednesday.

The Presidency said the Amendment Bill inserts new definitions, amends certain definitions, and removes obsolete definitions, in order to align with IAEA international best practices.

“The law now empowers the Regulator to exercise regulatory oversight to provide nuclear safety assurance, that property of the South African National Defence Force (SANDF), designated for release for civilian use, will not cause radiation harm. The Bill also empowers the Regulator to exercise regulatory oversight over occupational exposure of aircrew to cosmic radiation flying below 49 000 feet.

“The new law provides for the control and management of the affairs of the Regulator, including the term of office of the board and the establishment of board committees, and expands the scope of activities which cannot be undertaken without obtaining authorisation from the Regulator,” the Presidency said.

The amended law also excludes the application of the Defence Act of 2002 – which deals with permits for and inspection of - naval vessels of a foreign state that are visiting South Africa, in view of the challenges of foreign forces disclosing details of naval vessels to host countries.

The signing of the National Nuclear Regulator Amendment Bill means stronger protections for ordinary South Africans against the risks associated with nuclear materials and activities.

In simple terms, the National Nuclear Regulator Amendment Bill means:

Safer Defence Facilities: Old military equipment or sites that might have been exposed to nuclear materials will now be thoroughly cleaned and checked before being reused or repurposed for civilian use. This ensures they are safe and will not pose any radiation risks.
Protection for Airline Crews: Airline pilots and cabin crew flying at high altitudes are exposed to cosmic radiation. The new law ensures this exposure is monitored and regulated to keep them safe.
Stronger Oversight: The National Nuclear Regulator now has clearer rules and more power to ensure all activities involving nuclear materials are strictly controlled, protecting people and the environment from potential harm.
Global Standards: The updated law brings South Africa in line with international nuclear safety best practices, ensuring the country meets the highest safety standards. - SAnews.gov.za

DikelediM
Thu, 12/19/2024 - 12:16

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19 December 2024

‘There’s no turning back’ – Minister Ramokgopa on Eskom

Location: News

'There's no turning back' - Minister Ramokgopa on Eskom

The financial year ending March 2024 was an inflection point for Eskom, signifying the turnaround of the energy utility.

This according to Electricity and Energy Minister, Dr Kgosientsho Ramokgopa, who addressed the media at the utility's annual results announcement for the Financial Year 2024.

“The 2024 financial year is a point of inflection. There’s no turning back [and] we’ll only improve from here and that’s the assurance we are giving to the country,” Ramokgopa said on Thursday.

The financial year ending in March was a challenging one for the power utility.

The country experienced at least 329 days of load shedding (between April last year and end of March 2024), there was a decline in plant availability; distribution energy losses amounted to some 13.9TWh as well as worsened emissions performance.

Eskom also recorded a net loss before tax of some R25.5 billion – an improvement from the previous financial year’s R34.6 billion.

The separation of the National Transmission Company has triggered a once-off accounting adjustment – leading to loss after tax of R55 billion.

The National Transmission Company South Africa (NTCSA) officially commenced trading earlier in the year, marking the company’s establishment as a distinct and wholly owned subsidiary of Eskom. At the time, it was said that the NTCSA will own and operate the country’s national transmission system.

The Minister acknowledged the issues faced by Eskom over the last financial year.

He reminded South Africans, however, that the electricity producer has upped its performance – resulting in more than 260 days of no load shedding, improved plant performance and billions of Rands in diesel cost savings.

“We are taking responsibility of what happened, and the numbers don’t look good. We carry that responsibility and take the good with the bad. The projection outlook going forward is very positive, but we are responsibility for that record.

“[But] we are able to illustrate to the country that we are moving in the right direction. We can simply improve from here,” he said.
Eskom Group Chief Executive, Dan Marokane, explained that although the year was a “painful year” for the electricity provider, it was also a “building year in terms of our path towards recovery”.

This was the year in which the Generation Recovery Plan was instituted. A lot of effort went into investing into both maintenance expenditure and human resources that was critically required to enable execution.

“It’s also a year where we started seeing the government debt relief programme kicking into action. The certainty that arises from that gave us the ability to plan better and to do the deep maintenance that was required in that financial year,” he said.

Marokane, reiterated the Minister’s sentiments – calling the tough results a part of the state-owned entity’s recovery.

“We own [the results]. They are our results. They are part of our story. They are part of our journey, and we hope that in due course as we add more points, you will begin to see the recovery path unfolding,” Marokane said. – SAnews.gov.za

NeoB
Thu, 12/19/2024 - 14:21

49 views

19 December 2024

Loss before tax for the 2024 financial year improves by R9 billion to R25.5 billion; NTCSA separation triggers once-off accounting adjustment leading to loss after tax of R55 billion; profit forecast for the 2025 financial year due to improved performance

Location: Business

Thursday, 19 December 2024: Eskom has announced its group annual results for the 2024 financial year, covering 1 April 2023 to 31 March 2024. The period marked one of the most challenging moments in the history of the company given the urgent need to deliver on the Generation Recovery Plan to address South Africa’s energy...

18 December 2024

SA, Mozambique find ways to mitigate disruptions at border posts

Location: News

SA, Mozambique find ways to mitigate disruptions at border posts

South Africa and Mozambique have agreed to enhance diplomatic channels for continuous engagement to minimise disruptions to trade and supply chains amid the ongoing post-election turmoil in the neighbouring country.

The border post’s operations were temporarily suspended recently due to protests in Mozambique, which caused disruptions near the Mozambique and South African border.

In a statement released on Monday, the Border Management Authority (BMA) said the Lebombo port of entry was running smoothly as holiday movements increase.

According to the agency, the processing of cargo on both arrival and departure continues as normal, with efficient facilitation ensuring seamless movement of goods.

“Similarly, traveller movements in both directions are flowing without disruptions, reflecting the authority’s preparedness for the busy holiday season,” the BMA said yesterday.

READ | Operations run smoothly at Lebombo port of entry

According to the BBC, demonstrations began at the end of October in Maputo after Daniel Chapo, the Frelimo candidate, was officially declared the winner of the elections with over 71% of the vote.

Protesters are contesting the results of the 9 October elections, which allowed the ruling Frelimo party to extend its 49-year rule.
The protests, primarily led by young people, have resulted in violent clashes with the police, leading to at least 18 deaths, according to Human Rights Watch.

International Relations and Cooperation Minister Ronald Lamola and his Mozambican counterpart, Pascoal Ronda, held a joint media briefing after the inter-ministerial meeting in Mpumalanga on Wednesday morning.

“This important meeting between friendly and fraternal neighbouring countries is reflective of the very good levels of bilateral cooperation between our two countries. The meeting was held in a very constructive, and cordial manner, illustrating the great spirit of collaboration between South Africa and Mozambique,” a Department of International Relations and Cooperation (DIRCO) statement read.

The meeting discussed ways to jointly address the disruptions at the ports of entry, particularly at Lebombo and Ressano Garcia, a small town in Maputo.

“In this regard, the Ministers agreed amongst others to enhance channels for frequent and continuous engagements at diplomatic and bilateral levels to mitigate disruptions to trade and supply chains, jointly identify alternative routes and deploy additional resources to expedite and facilitate trade and collaborate with all stakeholders particularly business in order limit the impact of the disruptions on their operations.”

Both Ministers have committed to protecting and securing infrastructure for trade facilitation.

They continue to collaborate to ensure minimal disruption for regional integration, including associated cross-border value chains.
The leaders emphasised that these disruptions have negatively affected the economies of both countries and hindered the free movement of people and goods between them.

“Many companies have suffered losses as a result of the disruption in trade. Should the situation persist there is great danger of food and energy insecurity.”

The Ministers also took the time to commend efforts undertaken by senior officials from various departments and agencies on both sides in mitigating the negative effects of the disruptions at the border to date.

“Accordingly, the Ministers committed to accelerate actions to address existing infrastructure challenges at our ports of entry and improve cooperation by establishing a joint technical team between the two countries which will implement the decisions of this meeting,” said DIRCO. – SAnews.gov.za

Gabisile
Wed, 12/18/2024 - 15:16

71 views

16 December 2024

Surging Investment, Waves of Change

Location: News

By NJ Ayuk, Executive Chairman, African Energy Chamber (https://EnergyChamber.org/).

I've said for years that African energy is a vital investment. Backers clearly agree — to the tune of USD47 billion. That's how much capital expenditure (capex) 2024 saw in African oil and gas, showing a 23% increase from last year. Better yet, we expect growth to continue through the end of the decade.

This capex activity is a welcome sign that energy majors are deepening their long-term interests in Africa. And as our 2025 State of African Energy report details, their momentum has created unique opportunities for local communities, indigenous companies, and national oil companies (NOCs) from other continents.

Emerging Players

While the majority of 2024's capex was driven by established producers like Angola and Nigeria, emerging players are making noise in the industry. Take Senegal, which saw its first offshore oil production this year. Ghana, following a five-year slump, increased oil output during 2024 by 10% and gas output by 7%.

Exploration hotspot Namibia also deserves a special mention: The Southern African nation aims todrill over 12 offshore wells next year, begin production by 2029, and become one of the top-five African producers by the 2030s. Good work for a nation that only discovered its enormous reserves in 2022! I frequently cite Namibia because it proves that a complete newcomer can attract serious foreign investment with smart, swift policy changes — and poise itself to shake up the energy industry.

Increased Exploration

An exciting question remains: Just where will we find the next Namibia Thanks to a resurgence in exploration, another hotspot may be around the corner. There were 1,060 wells drilled in Africa this year — more than any time since 2015. Africa has also become a global leader in drilling high-impact wells, which have the potential to significantly increase overall reserves. That strategy is already paying off: Notable 2024 finds include Namibia's Mopane complex, which holds approximately 10 billion barrel of oil equivalent (boe) – “one of the world's largest offshore finds,” according to Offshore Magazine. Even while global exploration as a whole remains stagnant, Africa is stepping up to meet growing energy demands.

When exploration is successful, new fields follow. We also expect to see African greenfield spending exceed brownfield by 10% by 2030. These capex trends all demonstrate that investors won't limit themselves to mature fields: Eyes are on fresh locations, fresh facilities, and fresh opportunities in Africa.

A Gas Future

As we highlight in our 2025 report, one of those opportunities is natural gas. Africa holds nearly 18 trillion cubic meters of reserves, which will prove essential for a just energy transition as natural gas can provide significant near-term emissions reductions while fostering energy security and economic development. Global demand for this clean-burning resource is also growing, particularly in Asia. That's why I'm glad to see a greater emphasis on developing natural gas resources. In 2023, capex spending on natural gas was about 30%, but this is projected to grow 10% by 2030. It's another sign that more investors are thinking in the long term about Africa, and interested in being part of a just energy transition.

Take Senegal, where the Greater Tortue Ahmeyim gas field will begin production next year. A Final Investment Decision is also expected in 2024 on Yakaar-Teranga. The West African nation is another fantastic example of how operator-friendly policies, political stability, and vast reserves can attract significant foreign investment: I'm excited to see Senegal transform itself from an oil importer to a gas exporter.

M&A Opportunity

The past year saw a huge increase in divestment by O&G majors: Large IOCs are aggressively streamlining their African portfolios. As a rule, they're selling mature, high-emission, and high-cost assets. While large divestments often signal trouble, they're actually creating some promising changes for African O&G.

For one, Asian and Middle Eastern nations are purchasing more assets: Dubai, Qatar, the U.A.E., Malaysia, and Chinese NOCs acquired stakes in Egypt, Mozambique, Namibia, Kenya, and South Africa this year. As global demand for energy grows, particularly in Asia, I'm glad to see these nations looking to Africa for long-term solutions.

Foreign divestment also matters because it's creating opportunities for indigenous companies. Thanks to a recent Shell acquisition, Aradel Holdings became Nigeria's most valuable oil company (https://apo-opa.co/3ZVzGwh). In Angola, IOC Afentra has acquired Azule's (a joint BP and Eni venture) assets and plans to dramatically increase the nation's overall output.

“Having the big players sell to independents is the future,” oil trader Trafigura said in a statement.

It's a promising pattern: Majors sell off mature assets and use the capital to invest in fresh fields and facilities. Independent foreign or indigenous companies use their acquired assets to expand but are spared the expense of building facilities from the ground up. These smaller companies are also strongly motivated to further develop and reduce emissions from these existing fields — an environmental and financial win for everyone.

The Angolan government clearly agrees, encouraging regional players with tax incentives and reduced government profit shares. It will be truly fascinating to watch this industry shakeup in Nigeria and Angola, which have been dominated for decades by majors.

It's no secret that Africa needs O&G majors to stay: They drill over half of our exploration wells and hold a quarter of the continent's equity production. However, I'm thrilled to see indigenous companies growing and harnessing these assets to their fullest extent.

Conclusion

Just what prompted this surge in African capex? A great deal of credit goes to common sense policy changes in nations such as Namibia, Senegal, Mauritania, Egypt, and Angola. We can also point out that the COVID-19 pandemic artificially slowed capex for several years, so an uptick was inevitable once the world opened up again.

However, I believe a lot of it comes down to economic reality: Global energy needs are rising. Africa has vast, untapped resources. I urge all parties to continue building a thriving energy industry that takes Africa – and the world – into the next century.

For further insights, check out our 2025 State of African Energy report here (https://apo-opa.co/3ZHldTr).

Distributed by APO Group on behalf of African Energy Chamber.

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16 December 2024

Presidency raises concern over McKinsey, Bain appointments

Location: News

Presidency raises concern over McKinsey, Bain appointments

The Presidency has expressed concern with the recent appointments of McKinsey as a partner to the B20, as well as the appointment of Bain in the Project Management Office of the Energy Council of South Africa.

“The Presidency has noted with concern the recent appointments of McKinsey as a supporting partner to the B20, the business engagement group that meets on the sidelines of the G20 and coordinates the participation of business in the G20, and Bain to the Project Management Office of the Energy Council of South Africa,” it said.

Whilst the Presidency or government has no control over the B20 processes, it does not endorse the appointment of McKinsey in this regard.

“Similarly, the Presidency does not condone the inclusion of Bain in supporting the activities of NECOM [National Energy Crisis Committee]. The appointments do not contribute to the engendering of public trust and promotion of good governance, given the well documented role of the two firms in state capture and corruption,” said the Presidency in a statement on Sunday.

Earlier this month, the National Prosecuting Authority (NPA) announced that it had secured a resolution with McKinsey South Africa, to pay back some R1.1 billion to state coffers for its role in State Capture.

It said that in terms of the resolution, the multinational company admits, accepts and acknowledges responsibility under South African law for the criminal actions and conduct of Vikas Sagar, who was a former partner of McKinsey, during the relevant period. As a result of Sagar’s corrupt actions, McKinsey was awarded contracts with Transnet and Eskom amounting to nearly R2 billion.

READ | NPA reaches resolution with McKinsey South Africa

“The Presidency calls on business to reconsider its position and to appoint more suitable partners for these important endeavors,” said the Presidency. -SAnews.gov.za

Neo
Mon, 12/16/2024 - 10:39

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15 December 2024

Eskom begins investigation into Matla Power Station explosion

Location: News

Eskom begins investigation into Matla Power Station explosion

Preliminary investigations following an explosion at Eskom’s Matla Power Station in Mpumalanga indicate that the rupture of a high-pressure steam steel pipe above the Unit 6 transformer caused Thursday’s incident.

“Eskom can confirm that preliminary investigations indicate the rupture of a high-pressure steam steel pipe above the Unit 6 transformer caused yesterday evening’s incident. The incident resulted in a loud bang and a loss of power supply to the Unit 6 area,” said the power utility in a statement on Friday.

It further added that significant amounts of dust, combined with the loss of power, prevented a fuller assessment until the first light on Friday.

“Technical teams remain on-site, assessing the extent of the damage, the scope of work, and the time required for repairs and restoration. At this stage, there is no evidence of sabotage,” said the utility.

READ | Transformer explosion leaves nine injured at power station

This as the Minister of Electricity and Energy, Dr Kgosientsho Ramokgopa, joined by members of Eskom’s Executive Committee and Board, visited the power station on Friday afternoon to offer support and assistance to the Matla leadership team and employees, including visiting the injured employees.

As a result of the steam leak from the damaged pipe, nine employees sustained burn injuries.

“One is in critical condition, and two are in semi-critical condition, but all remain stable. Six employees received less serious injuries, with two already discharged from the hospital.”

Additionally, eight members of the work team were uninjured and sent home. They, along with the next of kin of the injured and the Matla Power Station staff, received counselling and support at the start of shifts.

Meanwhile, the power utility said that the load shedding suspension outlook remains unchanged.

In August, Eskom shared its Summer Outlook, for the period from 01 September 2024 to 31 March 2025 that predicted a likely scenario of a loadshedding-free summer due to structural improvements in the coal-fired fleet. On Friday, Eskom reached 261 consecutive days of load shedding suspension.

As a precautionary measure, Unit 5 was taken offline following the incident to ensure the safety of all employees on-site.

This unit was due to be shut down for planned maintenance on Monday, 16 December 2024. This planned maintenance was brought forward to Saturday, 14 December 2024.

“Our emergency plans were activated accordingly and … the next steps in this plan involve ensuring the injured and their families continue to receive the support and care they need, as well as all our employees at Matla,” said Eskom Group Executive for Generation, Bheki Nxumalo.

“We now begin a disciplined investigation, and the painstaking work required to develop a thorough, disciplined understanding of the incident that will lead us to be able to plan when the unit can be returned to service,” Nxumalo explained.

“Matla is one of the six power stations we prioritised in the Generation Recovery Plan to end load shedding and over the past 18 months the employees have delivered an exceptional performance, achieving an Energy Availability Factor (EAF) of 67.12%,” said Eskom Group Chief Executive, Dan Marokane.

“Based on the structural improvements in the generation performance of the coal fired fleet, week by week Eskom is increasingly able to absorb shocks to the system, even though the generation capacity remains tight. The base case scenario for the summer outlook indicates that there will be no loadshedding if unplanned outages stay at 13 000MW or below and our year-to-date average unplanned outages are at 11 875MW,” concluded Marokane. -SAnews.gov.za

Neo
Sun, 12/15/2024 - 10:23

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14 December 2024

Advancing Gender Equality in South Africa’s Just Energy Transition

Location: News

A series of impactful events held between November 12-15 marked several strides forward in advancing gender equality in South Africa's Just Energy Transition.

Organized by the Mpumalanga Green Cluster Agency, the Project Implementation Unit, with support from the Climate Investment Funds (https://apo-opa.co/4iDmV0s) and the African Development Bank, the week-long programme's centre-piece was a one-day workshop on gender.

It also combined with several other events, most notably as the official launch of South Africa's Just Energy Transition Jobs First Project, the visit of Patricia Pena, Assistant Deputy Minister at Global Affairs Canada and the training of the Project Implementation Unit and provincial governmental officials on the Bank's procurement, financial management, and disbursement rules and regulations.

“We are proud to support the Gender Equality in Just Energy Transition Workshop and South Africa's Jobs First Project, advancing Mpumalanga's green economy goals, job creation, and a just, low-carbon transition,” stated Nkosinathi Nkonyane, Mpumalanga Green Cluster Agency CEO.

Assistant Deputy Minister Pena of Global Affairs Canada remarked: “We congratulate the Government of South Africa for the leadership, ambition, and partnership with us. Through the Climate Investment Funds, we are supporting advocacy and outreach programmes to build leadership from within.”

These events gathered stakeholders from national and provincial government officials, Just Energy Transition Project Management Unit, civil society organizations including women's groups and youth organizations, bilateral and multilateral development agencies, academia, and the private sector to drive inclusive and sustainable change.

Through direct engagement with local voices, the Project is fostering a collaborative environment where grassroots insights are prioritized, building a foundation for a more inclusive energy transition that centres around community needs.

A highlight of the week was the launch of South Africa's Just Energy Transition Jobs First Project. Supported by the African Development Bank, Climate Investment Funds, Irish Aid, Agence Française de Développement, and ABSA Bank, this project focuses on strengthening institutions, and empowering local communities in Mpumalanga by creating sustainable employment opportunities through gender equality, social inclusion, and skills development.

Dr Babatunde Omilola, Human Development division manager at the African Development Bank underscored: "This project is a key milestone in advancing a just energy transition for South Africa, prioritizing sustainable energy, job creation, gender equity, and social inclusion—ensuring the shift to a green economy benefits all, especially in Mpumalanga."

South Africa's Just Energy Transition Jobs First project activities were discussed with one of the strategic partners UVU Africa on a female farmers project in Bushbackridge.

Beneficiaries will receive training on sustainable and smart agriculture and receive a digital kit (tablets and data) to support their work. Suhana Bisnath Head Strategy and Product Design at UVU Africa stated: "We look forward to further collaborating with partners across sectors to ensure the ‘just' in Just Energy Transition is realised in every corner of Mpumalanga and beyond. Together, we can create a model of progress that prioritises inclusivity and innovation, building a future where no one is left behind".

Other initiatives discussed include the creation of a Gender Desk within the Mpumalanga Green Cluster Agency to facilitate dialogue among women actors, mapping of women entrepreneurs, and increased collaboration among women networks in the province. AFD's mandate in South Africa supports the Just Energy Transition by addressing poverty, inequality, and the social dimensions of energy transition through a policy-based loan focused on governance, energy access, and economic diversification. Gender equality is a key priority, with AFD collaborating with the Mpumalanga Green Cluster Agency to integrate gender considerations into the SAJJOF project.

Together, the gender workshop and the South Africa's Just Energy Transition Jobs First project reflect a commitment by the Bank and its partners to integrate gender and social inclusion into climate initiatives. These efforts align with the wider goal to foster the “just” part of the Just Energy Transition leaving no one behind especially women, children and vulnerable households.

“We are very excited to be supporting the SAJJOF project and look forward to welcoming the rising stars of South Africa's energy transition who are showing the world how women can lead the way” said Nina Kolybashkina, Gender and Social Inclusion Lead at Climate Investment Funds.

For more information, explore the Women-led Coal Transitions report here (https://apo-opa.co/4gca7gc).

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Media contact:
Sonia Borrini
Climate Change and Green Growth Department
s.borrini@afdb.org

For more information on South Africa's Just Energy Transition Jobs First Project please contact:
Elaheebocus, Nawsheen : n.elaheebocus@afdb.org.

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13 December 2024

Year-On-Year Diesel Savings of R16.46 Billion

Location: Business

Friday, 13 December 2024: Eskom has reached a milestone of 261 consecutive days without loadshedding, achieved through the successful implementation of the Generation Recovery Plan since March 2023. This accomplishment has resulted in significant cost savings and enhanced reliability of the coal-fired fleet, ensuring a stable and reliable power supply for all South Africans.The recovery...

13 December 2024

Matla Power Station Unit 6 Incident

Location: Business

Friday, 13 December 2024: Eskom can confirm that preliminary investigations indicate the rupture of a high-pressure steam steel pipe above the Unit 6 transformer caused yesterday evening’s incident. The incident resulted in a loud bang and a loss of power supply to the Unit 6 area. Significant amounts of dust, combined with the loss of...

13 December 2024

Call to expand SA-Angola trade and investment

Location: News

Call to expand SA-Angola trade and investment

President Cyril Ramaphosa has called for the expansion of bilateral trade and investment between South Africa and Angola.

“During our official engagement, we reached a shared understanding that significant opportunities exist to further strengthen and expand our bilateral trade and investment relations,” President Ramaphosa said on Thursday.

The President made the remark during the South Africa-Angola Business Forum held at the CSIR International Conventional Centre in Pretoria. This as he hosted his Angolan counterpart, President João Manuel Gonçalves Lourenço, who was in South Africa for a State Visit at the Union Buildings earlier in the day.

READ | SA, Angola deepen ties

Speaking at the inaugural South Africa-Angola Business Forum, President Ramaphosa said it was heartening and encouraging to see a broad representation of business from the two countries.

“This is in itself a solid demonstration of confidence; confidence in the strength of the region’s two largest economies; confidence in the potential that exists for deepening trade and investment ties; confidence that the governments of both countries are taking the necessary steps to ensure that the business operating environment is improved so investments can be safe and secured,” the President explained.

The first citizen said in his engagements with President Lourenço and the respective delegations, a wide array of critical political, economic and social issues of mutual concern were discussed.

More than 20 South African entities are already investing in Angola in a range of sectors including rail, agriculture, industrial parks, oil refineries, manufacturing, IT, financial services and logistics.

“By way of example, the Development Bank of Southern Africa is financing port development, railway rehabilitation, oil and gas infrastructure and renewable energy development in Angola.

“The Export Credit Insurance Corporation of South Africa has also maintained a healthy pipeline in Angola in infrastructure development, and the Industrial Development Corporation is involved in financing the Cabinda Oil Refinery and the Cabinda phosphate project. We would like to see substantially more Angolan FDI [foreign direct investment] inflows into the South African economy,” said President Ramaphosa.

In addition, between 2003 and 2024, “only a handful” of Angolan companies were investing in South Africa in communications, financial services and the metal sector.

With respect to trade, though South Africa’s exports to Angola have grown by approximately 11% since 2019, they account for just 3% of Angola’s total imports.

South Africa’s imports from Angola have declined by some 19% since 2019.

“Casting the net wider presents immense possibilities for improving both trade and investment flows. South Africa is pursuing an ambitious economic development agenda based on export-led industrialisation.

“We seek to revitalise our industrial base, modernise our infrastructure network, and strengthen logistics and supply chain connectivity with the rest of the continent,” President Ramaphosa said, noting that this presents opportunities for cooperation in various sectors such as agriculture and agro-processing, energy and rail rolling stock.

Energy and infrastructure development

On energy matters, the President said the rapid growth of key clean energy manufacturing industries, as part of the global transition to a low-carbon economy, is an area that must be explored urgently.

“The global energy transition offers new opportunities to upgrade and diversify into technology-intensive global value chains. The transition to a low-carbon economy therefore presents scope for collaboration around critical minerals, specifically with regards to value addition and beneficiation.”

The President said infrastructure development that unlocks intra-Africa trade is a priority.

“We must build on the work already underway on the Lobito Corridor to create sustainable industries in the region. South Africa is ready to partner with Angola in the development of strategic corridors, including the Central, North and South Corridors, with the aim of transforming them into dynamic economic infrastructure projects that can promote growth.”

Cutting red tape

President Ramaphosa called on business and government to use the forum proactively.

“As government and business, we must use this forum to engage proactively around not just the possibilities that exist, but also how to resolve the challenges in the business operating environment. Companies in both Angola and South Africa have challenges that make it difficult to do business.

“Stringent business visa requirements, high export costs, onerous import processes, taxation issues and bureaucratic red tape are just some of these.

“We must be able to emerge from this forum with a clear understanding of what the main challenges are and what steps will be taken to facilitate greater market access on both sides.

“Promoting greater economic growth for the benefit of Angola and South Africa necessitates that we are agile, adaptable and responsive as both the public and private sectors,” he said. - SAnews.gov.za

Edwin
Fri, 12/13/2024 - 09:42

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13 December 2024

African Development Bank Celebrates 60 Years of Transformative Impact in Africa Southern Region

Location: News

The African Development Bank (AfDB) (www.AfDB.org) proudly celebrates its Diamond Jubilee, marking 60 years of driving social and economic transformation across the African continent. The Southern African regional celebration, held in Johannesburg, brought together leaders, stakeholders, and partners to reflect on the institution's remarkable journey and its vision for a prosperous future.

Speaking at the event, Ms Leila Farah Mokaddem, Director General of the African Development Bank Group, highlighted the Bank's legacy of impact and transformation. "Sixty years ago, the African Development Bank was born out of a vision for a better Africa. Today, we celebrate not just numbers but the lives transformed and communities uplifted through our work," she said.

Key Achievements in Southern Africa

With an active portfolio of 226 projects worth USD 11 billion, the Bank's unwavering commitment to fostering sustainable growth and integration in Southern Africa is evident. Notable achievements include:

SADC Sub-Regional Transport and Facilitation Project: A USD 231.3 million investment connecting Malawi and Mozambique, fostering trade, and mitigating regional fragility.
Lesotho Highlands Water Project: A USD 2.1 billion initiative enhancing water transfer and hydroelectric power, essential for energy security.
Kazungula Bridge Project: A USD 81.6 million investment strengthening connectivity between Zambia and Botswana along the North-South Corridor.
Support for Transnet: A recent USD 1 billion sovereign-guaranteed corporate loan to aid South Africa's freight transport recovery and growth.

The celebration also underscored the deep partnership between the Bank and the Government of South Africa. Honourable Minister Enoch Godongwana shared his reflections on this enduring collaboration:

"The Government of the Republic of South Africa celebrates this significant milestone with the African Development Bank. Our region, and indeed South Africa, continues to enjoy a fruitful partnership with the Bank as we work together toward a shared goal of creating a better Africa for future generations.

As we gather to celebrate the many achievements of our collaborative efforts, we also recognise the need to continue advancing Africa's development agenda. This milestone energises us and strengthens our commitment to a shared vision for the next 60 years!"

Looking Ahead: A Vision for the Future

As the Bank embarks on its new Ten-Year Strategy, it prioritises integrated regional projects and climate resilience. Projects like the Lobito Rail Integrated Corridor, connecting Angola, DRC, and Zambia, promise to drive economic growth, agriculture value chains and renewable energy investments.

"Our work is far from over," Ms Mokaddem noted. "We invite all partners—governments, private sector actors, and international institutions—to join us in building a more inclusive and sustainable Africa. Together, we can address climate-related challenges and mobilise resources to ensure no one is left behind."

A Commitment to Africa's Development

Under the leadership of President Dr Akinwumi A. Adesina, the Bank has maintained its AAA rating and authorised capital of USD 318 billion, with nearly 2,000 staff serving all 54 African countries. The institution continues to champion its “High 5s” priorities: lighting up and powering Africa, feeding Africa, industrialising Africa, integrating Africa, and improving the quality of life for the people of Africa.

The 60th-anniversary celebrations are a testament to the Bank's resilience and the enduring support of its partners. The African Development Bank remains steadfast in its mission to transform lives and catalyse growth across the continent.

To view our anniversary video that encapsulates these achievements and our vision for the future, please click here: Anniversary Video (https://apo-opa.co/4g8Y2s3).

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Media contact:
Natalie Naudé,
Communication and External Relations Department
n.naude@afdb.org

Join the Conversation:
#AfDB60 #AfricaRising #EconomicTransformation #MakingADifference

About the African Development Bank Group:
The African Development Bank Group (AfDB) is the premier multilateral financing institution dedicated to Africa's development. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NSF). The AfDB has a field presence in 41 African countries, with an external office in Japan, and contributes to the economic development and social progress of its 54 regional member states. For more information: www.AfDB.org

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12 December 2024

Transformer Explosion at Matla Power Station Unit 6 – Initial Reports Indicate 9 People Injured, One Critically

Location: Business

Thursday, 12 December 2024: This afternoon, at approximately 5:00 PM, a transformer explosion occurred at Matla Power Station in Mpumalanga, affecting Unit 6. As a precautionary measure, Unit 5 was taken offline to ensure the safety of all employees and contractors on-site. Initial reports indicate that 9 employees were injured with one in critical condition....