Aveng sustains earnings recovery into second half

Infrastructure and contract mining group Aveng reports that its earnings recovery – initially reflected in December interim results that showed positive earnings for the first time since 2014 – is continuing. In a trading update, the JSE-listed group reports that revenue and earnings before interest and tax improved in the second half of its financial year to June 30, while cash flow, which was negative for the period, was positive for the full year.

Powered by WPeMatico

Accelerate expects another difficult year amid ongoing Covid-19 impact

Although JSE-listed Accelerate Property Fund’s performance for the financial year ended March 31, reflected early signs of recovery from the impact of Covid-19, management contextualised the pandemic’s severe impact and the group’s strategy to focus on nodal strength as a beachhead for growth in a post pandemic market.  The diversification of Accelerate’s portfolio during the year under review, resulted in a reasonable performance despite the impact of Covid-19 on trading densities at super-regional malls, the company said, though this was balanced by the resurgence in trade at regional and neighbourhood centres.

Powered by WPeMatico

Emira attracts R805m in sustainability-linked debt financing

JSE-listed Emira Property Fund has raised R805-million in sustainability-linked debt, with reduced margins for achieving pre-set environmental sustainability targets. In only the third issue of its kind in South Africa, Emira listed a new unsecured three-year R380-million sustainability-linked bond as part of its domestic medium-term note (DMTN) programme.

Powered by WPeMatico

New learning hub aims to equip social practitioners to raise impact of IPP upliftment programmes

A new learning and innovation hub to develop the skills and knowledge of social-performance practitioners in South Africa’s renewable-energy sector has been officially launched. Known as the Initiative for Social Performance in Renewable Energy, or INSPIRE, the venture aims to improving the effectiveness and sustainability of the enterprise and socioeconomic development initiatives undertaken by independent power producers (IPPs).

Powered by WPeMatico

Hydropower important for storage, just transition to low-carbon electricity – IEA

Hydropower’s role in achieving a clean energy transition and in supporting the faster expansion of solar and wind generation capacity, is undervalued, the International Energy Agency’s (IEA’s) inaugural ‘Hydropower Special Market’ report states. Hydropower has a key role in the transition to clean energy not only through the massive quantities of low-carbon electricity it produces, but also because of its unmatched capabilities for providing flexibility and storage. Many hydropower plants can ramp their electricity generation up and down very rapidly compared with other power plants such as nuclear, coal and natural gas, the IEA says.

Powered by WPeMatico

Construction of the world’s biggest radio telescope observatory authorised to start

South Africa’s National Research Foundation and the South African Radio Astronomy Observatory jointly announced on Tuesday that the seven member countries of the Square Kilometre Array (SKA) Observatory (SKAO) had authorised the start of construction of the two arrays that will form the observatory. They did so at a meeting of the SKAO Council last week. The countries which are currently full members of the SKAO are Australia, China, Italy, the Netherlands, Portugal, South Africa and the UK. The SKAO will be composed of two radio telescope arrays, one each in South Africa and Australia. South Africa will host the middle radio frequency array (known as SKA-Mid) and Australia will be the base for the low radio frequency array (SKA-Low). SKAO headquarters is in the UK. SKA-Mid will incorporate South Africa’s MeerKAT radio telescope array, which was developed as an SKA precursor, while SKA-Low will include the existing prototype station in Australia.

Powered by WPeMatico

Progressive moves to ban organic waste from landfills seen as key driver of South African …

Legislation curtailing and, ultimately, banning the diversion of organic waste to municipal landfills is expected to support the development of South Africa’s biogas industry, which remains nascent with only 28 such projects having be built and commissioned to date. South Africa National Waste Management Strategy of 2020 sets a long-term goal of ‘zero waste’ to landfills and includes targets of lowering waste diversions to landfills by 45% within five years, 55% in 10 years and 70% in 15 years.

Powered by WPeMatico

Berbera Port enters second phase, opens container terminal

Trade and logistics multinational DP World on June 28 inaugurated a 500 000 twenty-foot equivalent unit (TEU) a year container terminal at the Berbera port, in Somaliland. This followed completion of the first phase of the port’s expansion as part of its development into a major regional trade hub to serve the Horn of Africa. The event also included a symbolic ground-breaking for the new Berbera Economic Zone, the first phase of which is under construction.

Powered by WPeMatico

PIC reduces shareholding in M&R

The State-owned Public Investment Corporation (PIC) has disposed of an interest in the ordinary shares of Murray & Roberts (M&R), taking its shareholding to 19.274%. This compares with its previous shareholding in M&R of 20.041%.

Powered by WPeMatico

Clairwood re-development redefining Durban’s logistics capabilities

The historic Clairwood racecourse, located just south of Durban, has completed its transformation into a logistics park, and now showcases cutting-edge innovation in storage, transshipment and distribution, says Fortress Logistics national leasing manager Grant Lewington. The R4.5-billion Clairwood Logistics Park is considered a “world-class site” and hosts new road infrastructure, to the value of R150-million, alongside new services connections such as power, water and sewage.

Powered by WPeMatico