New Law Will Reveal South Africa’s Huge Pay Gaps
Amendments to the Companies Act will oblige companies to disclose the gap between the lowest paid worker and the top executive
Investec
Collaboration With Private Sector in Issuing IDs and Passports Welcomed
The Freedom Front Plus (VF Plus) welcomes the announcement that the Department of Home Affairs has expanded its digital banking partnerships as additional financial institutions have indicated that they will assist with issuing identity documents (IDs) and passports. Approximately 840 branches of Capitec, First National Bank, Absa, Discovery and Standard Bank are now involved in […]
The post Freedom Front Plus welcomes collaboration with private sector in issuing IDs and passports appeared first on Freedom Front Plus.
Investors urged to join Global Investor Call
Investors urged to join Global Investor Call
National Treasury has encouraged investors, who are interested in participating in the upcoming Global Investor Call (GIC) after the tabling of the Budget, to submit questions through the respective Goldman Sachs or Investec representatives.
The Minister of Finance, Enoch Godongwana, will table the 2025 Budget to Parliament on Wednesday, 12 March 2025.
“The Republic of South Africa, rated Ba2 (stable) by Moody’s Investors Service Incorporated, BB- (positive) by S&P Global Ratings and BB- (stable) by Fitch Ratings (Hong Kong) Limited, has mandated Goldman Sachs International and Investec Bank Limited, alongside their empowerment partners, Vunani Capital Partners and Cinga Capital, to arrange a non-deal Global Investor Call (“GIC”) scheduled for Wednesday, 12 March 2025 at 16:00 SAST / 14:00 GMT / 09:00 EST,” National Treasury said on Friday.
The GIC will be led by National Treasury Director-General, Dr Duncan Pieterse, and will be supported by senior National Treasury officials.
It said the GIC will be followed by a series of in-person fixed income investor update meetings in Cape Town on Thursday, 13 March 2025, and Friday, 14 March 2025, and in Johannesburg on Friday, 28 March 2025.
“Investec will be arranging logistics. Details of in-person fixed income investor update meetings internationally will be communicated to the market in due course.
“There will be an open Q&A session during the GIC, and the Republic of South Africa also welcomes the pre-submission of questions through the respective Goldman Sachs or Investec representatives,” National Treasury said.
Representatives can be contacted as follows:
Goldman Sachs International:
- Name: Rumbi Wasterfall
- Email Address: rumbi.wasterfall@gs.com
- Contact details: +44 207 774 6671
Investec Bank Limited:
- Name: Leanne Large
- Email address: Leanne.Large@investec.com
- Contact details: +27 82 494 8804
Link to pre-register (Recommended):
https://www.netroadshow.com/events/login?show=367d0b60&confId=78851
Link for the audio replay (only available following the GIC): https://www.netroadshow.com/events/login?show=367d0b60&confId=78851
Following the tabling of the 2025 Budget, a presentation will be available on National Treasury's website:
During the Budget the Finance Minister will to outline the financial, economic and social commitments that government would prioritise in its planned expenditure as part of the 2025 Budget Speech.
He will indicate the allocation of financial resources to the national government’s priorities outlined by President Cyril Ramaphosa in the State of the Nation Address. - SAnews.gov.za
nosihle
Fri, 03/07/2025 - 13:28
274 views
Solarafrica Secures R1.8 Billion Solar Investment, Advancing Wheeling Adoption in South Africa
SolarAfrica (https://SolarAfrica.com/) is proud to take another major step forward in the development of its flagship utility-scale solar project, SunCentral, by successfully reaching financial close on the first 114 MW component of the project alongside funding partners Investec and RMB. The R1.8 billion investment into SunCentral marks the start of the project's rollout in South Africa.
SunCentral is a large-scale solar photovoltaic (PV) plant located between Hanover and De Aar in South Africa's Northern Cape province. The project will be developed in three phases.
Phase 1, consisting of 342 MW, will be delivered through a staged roll-out of three 114 MW facilities and will deliver renewable energy to a diverse range of off-takers by wheeling it through South Africa's power grid. Phase 2 and 3 will increase SunCentral's capacity to 1 GW.
Unlike similarly sized projects that offer wheeling on a one-to-one basis (with one generation plant supplying one off-taker), SolarAfrica's project will offer wheeling on a one-to-many basis, making it available to a wider pool of businesses in South Africa.
SolarAfrica's Chief Investment Officer Charl Alheit, who spearheaded the financial close, explains: “Reaching financial close on the first 114 MW of our utility-scale wheeling development and Main Transmission Substation (MTS) investment marks a significant milestone in our commitment to advancing sustainable energy solutions for our customers in the commercial and industrial sectors.”
He adds that the substantial size of SunCentral will unlock access to cheaper, greener power for even more businesses across the country. “We are excited to see this project move forward as we continue contributing to the energy transition while delivering long-term value to our customers."
SolarAfrica is part of the greater Starsight Energy Africa Group. The success of SunCentral will act as a blueprint for similar (and possibly smaller) off-site generation projects in other key African markets in which the Starsight Energy Africa Group companies operate.
“The construction of SolarAfrica's SunCentral is a critical step in our journey to expand clean energy adoption across Sub-Saharan Africa, says Paul van Zijl, Group CEO of Starsight Energy Africa Group. “We are excited to move this project forward and continue delivering long-term value to our customers,” he says.
SolarAfrica is backed by world-class investors African Infrastructure Investment Managers (AIIM) and Helios Investment Partners who both hold decades-long track records of bringing investment to support African innovation.
“Reaching Financial Close on the first 114 MW on SunCentral is a fantastic milestone for SolarAfrica, says Thor Corry, Investment Director at AIIM.
“The modular approach to construct the MTS and plug in subsequent 114 MW modules provides a superb platform for SolarAfrica to scale at pace to meet the needs of the C&I customers in South Africa who want to secure price certainty and cost efficiencies while furthering South Africa's Just Energy Transition. With South Africa requiring up to 30 GW of new capacity by 2030 to meet its climate commitments and energy needs, projects like this are crucial,” Corry concludes.
Distributed by APO Group on behalf of Starsight Energy.
About SolarAfrica:
Founded in 2011, SolarAfrica provides a suite of capex-free green energy solutions to the commercial and industrial sectors in Southern Africa. The holistic suite includes on-site solutions such as solar energy and battery storage together with virtual solutions like wheeling, trading and aggregation.
SolarAfrica partners with businesses in South Africa seeking an energy solution that provides power security, cost savings and carbon reduction – building towards long-term sustainability.
The company has evolved into an ambitious team who are passionate about what they do and the core values they uphold. SolarAfrica has been named the continent's leading solar energy firm twice, scooping the Africa Solar Industry Association's African Solar Company of the Year award in 2021 and 2023.
About Starsight Energy:
Across the continent, Starsight Energy is redefining what it means for businesses to be energy efficient. Starsight Energy provides premier clean on-grid and off-grid energy services to commercial and industrial clients in Africa.
Serving the commercial and industrial, financial, residential, educational and agricultural sectors, Starsight Energy delivers tailored power and cooling solutions to meet client requirements while optimising consumption through energy-efficient appliances and environmentally friendly practices and recommendations.
From load analysis and modelling to demand management and customised solution design, Starsight Energy helps clients optimize energy efficiency and cost savings across the board.
About African Infrastructure Investment Managers (“AIIM”):
AIIM, a member of Old Mutual Alternative Investments* (“OMAI”), has been investing in the African infrastructure sector since 1999 with a track record extending across seven African infrastructure funds. AIIM's team of 40+ investment professionals are based out of five locally staffed offices across the continent in Cape Town, Johannesburg, Nairobi, Lagos and Abidjan providing direct on-the-ground coverage of our key markets.
AIIM is Africa's largest dedicated infrastructure private equity manager and currently manages an aggregate AUM of USD2.9 billion in assets across the power, renewable energy, digital infrastructure, mid-stream energy and transport sectors with operations in 19 African countries.
AIIM is a licensed FSP approved by the Financial Sector Conduct Authority in South Africa.
*Old Mutual Alternative Investments (OMAI) is a private alternative investment manager in Africa, with over USD7.6 billion (ZAR139.4 billion) under management in infrastructure, private equity, hybrid equity and impact funds. It is a member of Old Mutual Investment Group, the investment management arm of Old Mutual.
About Helios Investment Partners:
Established in 2004, Helios Investment Partners is the largest Africa-focused private investment firm, with a record that spans creating start-ups to providing expanding companies with growth capital and expertise. The firm has over $3.0 billion in assets under management and is led and managed by a predominantly African team based in London, Lagos, Nairobi and Paris, with the language skills and cultural affinity to engage with local entrepreneurs, managers, and intermediaries on the continent.
Helios leverages its local and global networks to create attractive proprietary investment opportunities, with an emphasis on building market leaders in core economic sectors and driving performance through a highly engaged approach to portfolio operations. The firm's unique combination of a deep knowledge of the African operating environment, a singular commitment to the region and a proven capability to manage complexity, is reflected in its diverse portfolio of growing, market-leading businesses, and its position as a partner of choice in Africa.
Helios is the second mainstream private equity firm globally, and the largest emerging markets focused private equity firm, to achieve B Corp certification. B Corp status recognizes the firm's longstanding commitment to sustainability and responsible business practices.
National Treasury calls on investors to join Global Investor Call
National Treasury calls on investors to join Global Investor Call
The National Treasury has encouraged investors interested in participating in the upcoming Global Investor Call (GIC) after the tabling of the budget, to submit their questions through designated representatives from Goldman Sachs or Investec.
Minister of Finance, Enoch Godongwana, will table the 2025 Budget Review to Parliament on 19 February 2025.
“The Republic of South Africa, rated Ba2 (stable) by Moody’s Investors Service Incorporated, BB- (positive) by S&P Global Ratings and BB- (stable) by Fitch Ratings (Hong Kong) Limited, has mandated Goldman Sachs International and Investec Bank Limited, alongside their empowerment partners, Vunani Capital Partners and Cinga Capital, to arrange a non-deal Global Investor Call (GIC), scheduled for Wednesday, 19 February 2025 at 16:00 SAST / 14:00 GMT / 09:00 EST,” National Treasury said in a statement on Tuesday.
The GIC will be led by the Director-General of the National Treasury, Dr Duncan Pieterse, and will be supported by senior National Treasury officials.
“This year, given National Treasury’s role as Chair of the Finance Track of the G20, there will not be a series of in-person fixed income investor update meetings domestically nor internationally, due to conflicts with the G20 meetings. Should there be any changes to this, it will be communicated to the market.
“There will be an open Q&A session during the GIC, and the Republic of South Africa also welcomes the pre-submission of questions through the respective Goldman Sachs or Investec representatives,” National Treasury said.
The representatives can be contacted as follows:
Investec Bank Limited
- Name: Leanne Large
- Email address: Leanne.Large@investec.com
- Contact details: +27 82 494 8804
Goldman Sachs International
- Name: Rumbi Wasterfall
- Email address: rumbi.wasterfall@gs.com
- Contact details: +44 207 774 6671
Link to pre-register (Recommended): https://shorturl.at/kfPVm
Link for the audio replay (only available following the GIC): https://shorturl.at/YG7Sl
Following the tabling of the 2025 Budget, a presentation will be available on National Treasury's website: https://shorturl.at/1VyCh
For further enquiries contact: Terry Bomela-Msomi
Director: Debt Issuance and Management
012 315 5753 / +27 66 289 2492 - SAnews.gov.za
nosihle
Tue, 02/11/2025 - 14:41
67 views
First G20 Sherpa meetings ‘robust’
First G20 Sherpa meetings 'robust'
South Africa’s Sherpa for the G20 and Director-General of the Department of International Relations and Cooperation, Zane Dangor, has described the first Sherpa meeting of South Africa’s Presidency of the G20 as “very successful” and “robust”.
The first Sherpa meeting was held at Investec in Sandton on Monday and Tuesday, this week.
“We’ve just completed the first Sherpa meetings, so it’s day two of plenty. It was a very successful Sherpa meeting. The discussions were robust but very inclusive.
Speaking at a media briefing on Tuesday, following the conclusion of the two-day meeting, Dangor was upbeat that the discussions were fruitful.
“We started yesterday [Monday] with [International Relations and Cooperation Minister Ronald] Lamola opening the Sherpa meeting and we outlined… that the theme of our [G20] Presidency would be ‘Solidarity, Equality and Sustainability’. Minister Lamola just outlined, for example, how we are going to amplify the voices of the Global South as part of our Presidency,” he said.
According to Dangor, during the first Sherpa Track meeting, discussions centred on various subjects, including “significant discussions” for a review of the "G20 at 20".
“[There was] support for the fact that this is timely, that we need to assess what the purpose of the G20 is, what is the mandate of the G20 and what are the agreements that have been made on the various tracks over the last 20 years, what has been achieved and what has enabled that achievement.
“We must also look at what has not been achieved and what are the disabling factors. A methodology for that review will be developed so that we ask the right questions, get the right answers, and do the proper analysis, so that by the time we get to the end of our Presidency [of the G20] in November, we can give them clear recommendations on how to improve the G20,” he said.
The South African Sherpa emphasised that the review “does not formalise the G20”.
“The G20 members seek to remain informal so that levels of flexibility are maintained and also to make sure that it doesn’t seek to compete with formal multilateral institutions like the [United Nations] and the [African Union] and others where you have formal secretariats,” he said.
Other subject matters given much attention include mobilising finance for a Just Energy Transition, as well as food security.
“This has just been reinforced by the Sherpas that this is a very important issue that we must focus on in the working groups, and that the Sherpas must also delve deeper into the issues of climate change and financing the green transition.
“[There were] recommendations… on how we can ensure that we focus on food security at the regional and global level, thereby complimenting what [previous G20 President] Brazil has already started,” Dangor said. – SAnews.gov.za
NeoB
Tue, 12/10/2024 - 18:50
124 views
Deputy President concludes working visit to the United Kingdom
Deputy President concludes working visit to the United Kingdom
Deputy President Paul Mashatile has on Friday concluded his weeklong working visit to the United Kingdom.
The Deputy President was in the United Kingdom for the second leg of his working visit to improve trade and investment relations between the nations and woo investors following his travels to Ireland.
“The purpose of the visit was to identify new trade and investment opportunities to grow the South African economy in partnership with the United Kingdom,” the Presidency said in a statement.
Some of the areas of interest he touched on during his engagement include government’s strategic priorities in several sectors including trade, investment, skills development, science, innovation, tourism and the Just Energy Transition.
“Following the successful conclusion of elections in both countries, the establishment of new governments allowed for reaffirming bilateral relations at all levels for the two strategic partners,” the statement read.
During the working visit, the Deputy President engaged with representatives from several organisations. These include Bloomberg Media, Brand South Africa, the London Stock Exchange, Investec, Standard Bank, JP Morgan, Citibank, Goldman Sachs and the South African Chamber of Commerce.
The talks also focused on showcasing South Africa as an investment destination of choice, by highlighting investment opportunities in the country.
He stressed the stability of South Africa’s political landscape as a result of the newly established Government of National Unity (GNU) and highlighted its significant demonstration of democracy at work and how it can serve as a model for other democracies around the world.
The Deputy President also had an opportunity to deliver an address on South Africa’s upcoming G20 Presidency, set to commence on 1 December 2024, at the University of London’s School of Oriental and African Studies (SOAS).
“The Deputy President affirmed that the country will advocate for the needs of developing nations, to place Africa’s development at the forefront of the global agenda.”
The Deputy President met with British government leaders including the Deputy Prime Minister Angela Rayner, the Secretary of State for Energy Security and Net Zero Ed Miliband, and Secretary of State for Foreign Affairs, Commonwealth and Development David Lammy.
He further paid a courtesy visit to Prince Edward, His Royal Highness the Duke of Edinburgh.
“Our numerous meetings with potential investors have revealed a shift in their attitudes and perceptions towards South Africa, indicating a positive look. Our alliance is based not on personal sentiments but on the aspiration to enhance South Africa and, consequently, the lives of our citizens, and be useful in sustaining the GNU administration for five years,” said the Deputy President.
The Deputy President was accompanied by the International Relations and Cooperation Minister Ronald Lamola, the Minister of Small Business Development Stella Ndabeni-Abrahams, the Minister in the Presidency responsible for Planning, Monitoring and Evaluation Maropene Ramokgopa and Minister of Public Works and Infrastructure Dean Mcpherson.
He was also with the Deputy Minister of Agriculture Rosemary Capa, the Deputy Minister of Finance Dr David Masondo, Deputy Minister in the Presidency Kenneth Morolong and the Deputy Minister of Trade, Industry and Competition Andrew Whitfield. – SAnews.gov.za
Gabisile
Sat, 10/05/2024 - 13:42
42 views
Mashatile kicks off working visit to the UK
Mashatile kicks off working visit to the UK
Deputy President Paul Mashatile has arrived in London, United Kingdom, for the second leg of his working visit scheduled to take place today and wrap up on Friday, 4 October 2024.
According to the Presidency, the purpose of the visit is to improve trade and investment relations between South Africa and the United Kingdom.
This visit follows a successful working visit to Ireland, which was aimed at advancing cooperation between South Africa and Ireland to improve trade and investment, and building on the significant progress made in the fields of science, innovation, as well as education and skills development.
READ | Deputy President assures Ireland of SA’s commitment to 'enabling environment' for business
The United Kingdom is one of South Africa’s most significant bilateral partners, particularly in trade, investment, skills development, science, innovation, the Just Energy Transition and tourism, among others.
The Deputy President’s visit will focus on building investor confidence in South Africa and driving foreign direct investment into the nation.
According to Mashatile’s office, he will continue to engage with various local and international private sector partners to mobilise investment support and strengthen public-private partnerships to realise the country’s economic growth and transformation objectives.
“The Deputy President will also use the opportunity to advance the strategic priorities of the Government of National Unity (GNU), which include creating sustainable economic growth, addressing poverty and the high cost of living, and building an ethical, capable developmental State,” his office said.
During this visit, the Deputy President will also engage with representatives from several organisations. These include Bloomberg Media, Financial Times, Sasol, Brand South Africa, the London Stock Exchange, Investec’s Investors Roundtable, Standard Bank, JP Morgan, City Bank, Goldman Sachs and the South African Chamber of Commerce.
He is expected to also pay a courtesy call on the Duke of Edinburgh and meet with the Deputy Prime Minister of the United Kingdom, Angela Rayner.
The Deputy President is leading a delegation comprising various Ministers. He is accompanied by the International Relations and Cooperation Minister Ronald Lamola; Minister in the Presidency responsible for Planning, Monitoring and Evaluation Maropene Ramokgopa; Public Works and Infrastructure Minister Dean Macpherson; Small Business Development Minister Stella Ndabeni Abrahams and some Deputy Ministers from various departments. – SAnew.gov.za
Gabisile
Mon, 09/30/2024 - 11:05
69 views
Transfer seals the deal for new ownership of The Neighbourhood Square Shopping Centre
22 July, Johannesburg. The Neighbourhood Square premier convenience shopping centre in Linksfield, Johannesburg, has transferred into the hands of its new owners Flanagan & Gerard Property Group and Burstone Group (JSE: BTN). Burstone Group partnered with retail real estate specialist Flanagan & Gerard to acquire the strategic retail asset, with each owner holding a 50% …
SA bank executives coined it during Covid
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Leagas Delaney Group South Africa celebrates growth with new Cape Town office
CAPE TOWN, South Africa – April 19, 2024: Independent, global communications agency, Leagas Delaney Group South Africa (LDSA), continues to build on its successes in Johannesburg, with the opening of a new office in Cape Town. This expansion marks a significant milestone for the agency as it continues to solidify its presence on the continent. …
Successful Lake Farm Run Fundraiser
Lake Farm Centre celebrated the 29th edition of their annual Charity Run fundraiser in perfect weather conditions on Saturday, 9 March. Proudly sponsored by Bukani Print, Pam Golding Properties, Investec, and Kingfisher FM. Race Organisers, Nedbank Running Club, and Lake Farm Centre were happy with the support of the event, which doubled from last year …
Investec (INL): Unveiling Pathways to Profit, From Dividends to Growth
Investec, the South African financial services giant, has carved a niche for itself as a consistent dividend payer and a potential avenue for capital appreciation. Whether you’re an income-hungry investor or a growth-oriented one, navigating the best ways to invest in INL stocks requires strategic insights. Here are some options to consider: For Dividend Seekers: …