market intelligence
Transnet & Eskom’s failures have cost South Africa R200-Billion says Sars boss South Africa’s Medium-Term Budget Policy Statement reveals a concerning under collection of revenue. Sars commissioner Edward Kieswetter says rolling blackouts and a struggling freight rail system are the culprits, causing a significant contraction in net revenue despite a 7% increase in gross revenue. The mining sector’s profitability decline, marked by a 55% drop in provisional corporate tax collections (R24.6-Billion), is also a major contributor, impacted by lower commodity prices, global growth weaknesses, increased power cuts, and logistical challenges in the first half of 2023/24. … . Read more
SA manufacturing sector needs to find ‘glocalisation’ opportunities As consumer behaviour and preferences change in the wake of sustainable options, coupled with incoming decarbonised goods trade regimes, it is worth considering more “glocalisation” opportunities for the South African manufacturing sector. This was the consensus reached by a panel on globalisation and localisation during the second day of the 2023 Manufacturing Indaba .… Read more
Kinetiko Energy and IDC to Develop South African LNG Project
Gas exploration company Kinetiko Energy - through its subsidiary Afro Energy - has signed a non-binding Term Sheet with the Industrial Development Corporation (IDC), to co-develop a Joint Venture for the production of the country’s largest onshore Liquefied Natural Gas (LNG) project. Announced on 22 August 2023, the first phase of the project will deliver 50 MW of gas-equivalent energy and is expected to be developed over two to three years. The total cost of the project’s first phase will comprise $57.8-Million in equity from the IDC and $30.8-Million in debt through Afro Energy for a total of $88.6-Million... Read more
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Issue 3– 2023
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