Author: Riante Naidoo

Eskom’s new loan worth almost R7 billion is direct catalyst for growth

Power utility company Eskom signed its first agreement worth US$500 million (almost R7 billion) with the China Development Bank this week. The credit agreement will contribute towards Eskom’s current capital expenditure programme and if successfully executed, funding for its upcoming financial year will increase to R51 billion. The loan will also be paid over a three year period, however the terms and conditions of the agreement have not been disclosed. The loan has come at an opportune time for the power utility after Futuregrowth, a Cape Town based asset management company, pulled the plug on funding Eskom after citing concerns over the management of state owned enterprises. At the loan signing, Eskom Chief Executive Brian Molefe said that the conclusion of this agreement continues to demonstrate investor confidence in SA, despite recent volatility experienced in the local debt capital markets. “The loan ceremony, which we celebrate today, will be the catalyst of many projects and developments which will lead... Read More

Low dam levels to decrease further 10% before recovery can begin

The South African Water Services’ (SAWS) seasonal outlook remains discouraging as predominant dryness and low prospects of rain is strongly indicated to last until January 2017. Dam levels have seen a general steady decline since April 2014 when the drought began. Over the past two years, dams have averaged at 38% lower. Current levels are down to 51.4%, almost 19% lower than this time last year. A further decrease of approximately 10% is expected before a recovery can begin with the rainy season fast approaching. A drought declaration has been declared in Gauteng, however SA’s other eight provinces remain drought disaster areas. According to the Department of Water and Sanitation (DWS), approximately 74.8% of SA’s settlements (about 45 million people) were impacted by the effects of the drought at its peak, from December 2015 to January 2016. However, by June 2016 the number of people affected decreased to 22 million. In numbers: dam levels KZN dams have all seen... Read More

Open defecation in SA to end by 2030

South Africa is committed to a better tomorrow by ending the practice of open defecation in SA by 2030 or sooner, the Presidency’s planning minister, Jeff Radebe said on Saturday. Radebe, who spoke at the 2016 Global Citizen Festival in New York, focused his address on South Africa’s role in the Sustainable Development Goals (SDGs) and achieving water and sanitation for all. He said the country’s 2030 National Development Plan is a “master plan” to get citizens to a country that is significantly better off than its current state. The minister added that through initiatives such as the SDGs, Agenda 2063 and SA’s national development plan, the country “stands for employment, global water and sanitation, and a brighter future for our youth. “Our government also commits today to ensure the panel champions proper sanitation and waste management services in cities around the world,” he said. “We support a world in which children thrive instead of suffering from disease, malnutrition,... Read More

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