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Growth initiatives to continue in 2020 as new laws come into effect

Initiatives to drive growth and stabilise the economy will continue to be a focus in the coming year, especially as efforts to root out corruption and State capture progress, law firm Webber Wentzel says. Robust corporate governance for listed companies will also remain a focus area for the JSE, while trading under the Africa Continental Free Trade Agreement will begin in July.

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Clarity on emergency procurement of 3 000 MW expected only by end Feb

Hundreds of potential respondents to a request for information (RFI) – issued in December by the Department of Mineral Resources and Energy (DMRE) for supply and demand solutions to South Africa’s prevailing power deficit – descended on Centurion on Wednesday for a briefing ahead of the submission deadline of January 31. In what became an almost standing-room-only affair, senior representatives from the Independent Power Producer (IPP) Office – Maduna Ngobeni, Pervelan Govender and Lena Mangondo – urged potential developers to provide fresh  and detailed information on short-term, as well as medium- to long-term, projects that could assist in helping to close an immediate supply shortfall of some 3 000 MW and, in time, restore system stability.

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Treasury invites public comment on landowners’ development levy

National Treasury has published the Municipal Fiscal Powers and Functions Amendment Bill for public comment.

Interested parties will have until March 13 to submit their comments.

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ELB to restructure Engineering Services business

Engineering services company ELB plans to restructure its Engineering Services business, downsize its head office function and possibly sell its Australian equipment business, ELB Australasia. This is in response to a depressed trading environment, as well as the losses incurred on the Gamsberg zinc project, in the Northern Cape.

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Condra reveals new fully automated overhead crane capability

Industrial equipment supplier Condra Cranes has announced a fully automated overhead crane capability, simultaneously revealing that the first such machine was delivered to platinum-group metals producer Lonmin in November last year. The overhead crane provides an alternative to the traditional pendant and remote control option, and the full automation is in line with a general trend away from manual control, the company says.

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Stefanutti Stocks secures additional short-term funding

Construction and engineering company Stefanutti Stocks has secured additional short-term funding of R227.5-million, the JSE-listed firm said on Thursday, noting that it remained in discussions with lenders to secure additional tranches of funding.

The latest funding from its primary banker and guarantee providers was the third tranche of funding secured since mid-year. In July, it received the first tranche of R120-million as specific ring-fenced project funding and in November secured R391-million in a second tranche.

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EPP board nominates Tomasz Trzósło to succeed Hadley Dean as CEO

The board of directors of property company EPP has nominated Tomasz Trzósło for appointment as CEO to succeed Hadley Dean, whose term of office is due to expire. Trzósło is expected to assume his role in May 2020, but it is subject to approval by the general meeting of shareholders.

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New Oxford-Glenhove buildings aim for 4-star green ratings

The two newest buildings to be built on the intersection of Oxford and Glenhove roads – OxGlen Block 3 and Block 4 – will aim to achieve 4-Star Green Star SA Office Design rating from the Green Building Council South Africa (GBCSA), engineering consultancy Solid Green Consulting senior sustainable building consultant Annelide Sherratt said this week. The precinct is home to Coca-Cola and Sappi’s South African headquarters. The newest buildings have incorporated many of these buildings’ best performing features, as well as some of their architectural details.

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AfDB, African Union to develop electricity master plan for the continent

Development finance institution, the African Development Bank (AfDB) and the African Union’s Development Agency (AUDA-NEPAD) plan to develop a blueprint for a pan-continental electricity network and market, the organisations have said. “The Continental Power System Master Plan will ensure that competitive electricity markets are developed at regional and continental levels, creating unique opportunities to optimally utilise Africa’s vast energy resources for the benefit of Africa,” senior energy adviser to AUDA-NEPAD’s CEO, Professor Mosad Elmissiry said in a statement issued this week.

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Water project underway and making progress

Last month, the official ground-breaking function for Phase II of the Lesotho Highlands Water Project (LHWP) took place and was attended by Kingdom of Lesotho Minister of Water Samonyane Ntsekele and South Africa Human Settlements, Water and Sanitation Minister Lindiwe Sisulu. “Implementing Phase II of LHWP is ‘maths and music’,” says Lesotho Highlands Development Authority (LHDA) CE Tente Tente.

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