President Ramaphosa confident that Eskom will resolve load shedding issues

President Cyril Ramaphosa has assured South Africans that he is confident that issues at Eskom, which has been rolling out load shedding due to power plant breakdowns, will be resolved.

The President was briefing the media on Thursday in London on the outcomes of his State Visit to the United Kingdom (UK).

The two-day visit which began on Tuesday was at the invitation of His Majesty King Charles III.

The First Citizen told journalists that his dealings with Eskom date back to 2014 when he was appointed by President Jacob Zuma to lead a “war room” to address electricity challenges facing the country.

The Cabinet had announced it had devised a five-point plan to deal with the electricity crisis, which the “war room” had to implement.

“There came a time when I said, the process of the war room is best closed down so that we have a CEO who will be directly involved in addressing the challenges of Eskom.”

However, according to the President, the so-called “war room” had too many “entry points”.

“Everyone was trying to put their fingers in trying to resolve the problems. I even suggested that Brian Molefe should be appointed as CEO because I did believe that his capabilities would help address the challenges. But, little did I know he was entangled in all the number of things.”  

According to the President, Eskom’s challenges did not start now.

He said there was a period where no maintenance was done.

“I met someone who was a manager at Eskom who said they were stopped from maintaining for 12 years. The power stations were driven hard and the instruction was to keep the lights on. No wonder today, we’re reaping the whirlwind because a number of errors were committed,” he said.

“Eskom woes and problems didn’t start even in 2014, but way earlier and we will need to go back seven years or more.”

Meanwhile, he said the State-owned entity is a huge machinery that costs billions.

“You need all the skills and capabilities and because these are machines; it’s like a car, they can’t run for years without being serviced. Because if you do that, it will break down.”

In addition, when the decision was finally taken to build new power stations, the experienced Eskom staffers had left after they were told that none would be built, he added.

“What then you were left with were outsiders who weren’t involved daily in the workings of Eskom and now we have design problems that have come to the fore that are a big challenge at the new power stations that were built that we had hoped would be our saviour,” he explained.

“We’re now trying to fix the plane as it is flying. We’re generating electricity and power stations keep breaking, as many of them are old.”

However, he said he had confidence that the new Eskom board and management would turn things around.

The President said Eskom is also working on lessening power cuts, as it tries to resolve the myriad of issues including its debt burden. 

“Obviously, it’s very easy to blame the President and government and yet, these problems have come way back from the past,” he stressed. 

“However, I have enormous confidence that we will solve these problems.”   

President Ramaphosa is the first Head of State to be hosted for a State Visit under the reign of King Charles III.

His Majesty and the Queen Consort welcomed President Ramaphosa at Horse Guards in London on Tuesday.

Source: South African Government News Agency

Evening load shedding reduced to Stage 3

Due to the diesel supplied by PetroSA this week, Eskom says it will now reduce load shedding during the night from Stage 4 to Stage 3 at 16:00 to 05:00 until Monday morning.

Public Enterprises Minister Pravin Gordhan told Parliament on Wednesday that government has immediately made available 50 million litres of diesel to Eskom from state-owned oil company, PetroSA.

However, according to the state-owned power entity, daytime power cuts will remain at Stage 2 from 05:00 to 16:00 daily until further notice.

“Eskom will publish a further update as soon as there are any significant changes,” Eskom said on Thursday.

“The continued implementation of load shedding is mainly due to the high levels of breakdowns and the limited emergency generation reserves.”

Since Wednesday afternoon, Eskom said, a generating unit each at Grootvlei, Kendal and Tutuka power stations was taken offline for repairs.

In addition, four units at Camden Power Station have also been taken offline to repair a water leak on a line that supplies auxiliary cooling water, while generating unit at Hendrina Power Station was returned to service.

“Three units at Kusile Power Station are offline due to the duct (chimney structure) failure late in October and will remain offline for a few months while repairs to the chimney system take place.”

In the meantime, unit 1 of Koeberg Nuclear Power Station will continue to generate a reduced output over the next three weeks as the fuel is ramped down ahead of the refuelling and maintenance outage scheduled to commence during December 2022.

Eskom said it currently has 6 000MW on planned maintenance, while another 14 160MW of capacity is unavailable due to breakdowns.

“Load shedding is implemented only as a last resort in view of the shortage of generation capacity and the need to attend to breakdowns.”

Source: South African Government News Agency

SARB hikes repo rate to 7%

The repurchase rate (repo rate) in South Africa reached 7% after the SA Reserve Bank’s (SARB) Monetary Policy Committee (MPC) agreed to a 75 basis points hike.

The increase means that the repo rate will now be 7% per year from 25 November 2022, with prime now at 10.5%.

The development was on Thursday announced by SARB Governor Lesetja Kganyago during a press briefing.

Addressing media, the Governor said three members of the MPC preferred the announced increase.

“Two member preferred a 50% basis points increase,” he said.

The level of the repurchase rate is now above the level prevailing before the start of the pandemic.

The MPC made the decision during its meeting on Wednesday. This was the sixth consecutive increment following two 25 basis points hike in November and in January. The repo rate was hiked by 50 basis points at the May meeting. In July and September, the MPC upped the ante, announcing 75 basis point rises.

“The revised repurchase rate remains supportive of credit demand in the near term, while raising rates to levels more consistent with the current view of inflation and risks to it.

“The aim of policy is to anchor inflation expectations more firmly around the mid-point of the target band and to increase confidence of attaining the inflation target sustainably over time,” he said.

The Governor said local food price inflation was revised up due to the weaker exchange rate and was now expected to be 8.8% in 2022.

“Food inflation is revised higher to 6.2% in 2023 and unchanged at 4.2% in 2024. In 2024 and 2025 we expect headline inflation of 4.5%,” he said.

The Bank’s forecast of headline inflation for this year and next is slightly higher at 6.7% and 5.4%, respectively.

Source: South African Government News Agency

City invests in bettering the health of Milnerton Lagoon through short-term interventions and upgrade of Potsdam WWTW

The City’s Water and Sanitation Directorate is implementing ongoing remedial work at Potsdam Wastewater Treatment Works (WWTW) that will result in treating effluent received from homes, businesses and industry to a better quality. The City has also implemented short-term interventions in the Milnerton Lagoon to address diffuse sources of pollution.

Implemented short-term interventions

The Lower Diep River, including the Milnerton Lagoon, is in a poor ecological state due to diffuse sources of pollution. The City has identified and implemented critical short-term interventions that address the quantity of pollution entering the system.

The Directorate has sandbagged the Erica Road Outfall, creating a barrier between the pollution and the lagoon. The sandbags benefit the entire system by limiting lagoon water being pumped to Potsdam that Is functioning at capacity and protecting the lagoon from untreated sewage. This is a temporary solution and the impact thereof will still need to be established. The City has also conducted a high level feasibility assessment of implementing a low flow diversion which will potentially do away with the need for pumping at Erica Road Outlet.

The City is installing litter traps on identified stormwater outfalls that will capture solid waste before it enters the natural system. The litter traps will catch solid waste that enters the stormwater channels from Milnerton, Royal Ascott, Joe Slovo, and Phoenix.

Potsdam Remedial Work

Wastewater Treatment Works (WWTWs) like Potsdam have an important function to ensure that wastewater from homes, businesses and industries is treated optimally to be released as  effluent into the environment via our waterways for reuse purposes.

Since 2019, these are some key infrastructure investments that have taken place:

Refurbishing primary settlement tanks (PSTs):

Refurbished PSTs will reduce the loads to the bioreactor more efficiently and will greatly impact the effluent quality positively.

08 Plant’s PSTs:

By the end of last week, the last of three PSTs was commissioned. Refurbishments included concrete structure repairs, replacing bottom and top scraper rubbers, replacing the greasing system, stilling wells, scumbox, and centre bearings.

97 Plant’s PSTs:

Currently, both PSTs at this Plant are operational. One PST has already been refurbished, and the plan is to renovate the other in December 2022.

Containing wall built around Reed Bed No. 1:

This helps to increase the capacity of the reed bed, which assists with retaining any spills and overflows within the system, allowing the City to pump wastewater back into the treatment process. It also prevents contaminated flow from entering the Theo Marais canal via the reed beds.

97 Plant’s Settled Sewage Sump Refurbishment

This sump was recently commissioned after it was repaired and refurbished.

This sump houses four pumps that pump sewage through the 97 Plant. Over the years, because the concrete had deteriorated, stones and pieces of concrete entered the pumps and caused major damages, which resulted in not enough sewage being pumped to the 97 Plant, which caused hydraulically overloading of the 08 Plant.

The refurbishment and repairs allow more sewage to be sent to the 97 Plant and ease the hydraulic load on the 08 Plant.

Various Plant Infrastructures Maintenance and Repairs:

The City has started a process to repair and paint various roads, buildings and infrastructure to ensure the Plant complies with Health and Safety requirements according to legislation to provide a safe working environment for staff, stakeholders and visitors.

‘Potsdam WWTW is an old facility that we are steadily working towards an upgrade. We have placed Potsdam on the Mayoral Priority Programme, and the City closely monitors Potsdam WWTW’s operations.

‘Our operational team progressively attends to the maintenance and refurbishing of the older infrastructure and equipment. This is, in addition, to gradually adding new technology and upgrading plant capacity between now and 2026,’ said Councillor Siseko Mbandezi, acting Mayoral Committee Member for Water and Sanitation. 

Potsdam Upgrade

Potsdam WWTW is benefiting from a  R5-billion capacity upgrade from treating 47 million litres of wastewater per day to 100 million litres per day.

The City is currently upgrading the Potsdam WWTW to increase its capacity to accommodate the urban growth in the area. Cutting-edge membrane technology is also being added to ensure high wastewater treatment standards.

Potsdam WWTW falls within the Diep River catchment. This is one of the largest catchments in the city at over 1 500 km2 in size, half of which falls outside of the metro boundaries in the Swartland.

The Phase 1 demolition on the property is already complete. The project is currently at the end of the procurement phase, with mechanical and civil tenders awarded to contractors subject to a 21-day appeal period, the Section 33 process being completed and Council budget approval.

A Section 33 process is required for projects exceeding three years, including a public participation process. It will require Council approval before entering into a contract with a service provider.

Currently, the project is split into two components:

1.    Mechanical and electrical tender:

This tender is for the design, supply, installation and commissioning of mechanical and electrical infrastructure to upgrade and expand Potsdam WWTW.

2.    Civil tender:

This tender is for the civil construction of infrastructure and buildings to upgrade and expand Potsdam WWTW, including demolition works.

The City’s Bid Adjudication Committee has approved the award of both the civil and mechanical and electrical tenders for the Potsdam upgrade subject to the completion of a Section 33 process (construction greater than a three-year period) and Council budget approvals.

Community meeting

The public is invited to attend the second quarterly meeting, where the City will provide an update on the condition of Milnerton Lagoon and current interventions to help improve its water quality.

Details:

Date:    Wednesday, 30 November 2022

Time:    18:30 to 21:00

Venue: Leibrand van Niekerk Community Hall in Table View

Should there be any changes to these details, this will be communicated.

Source: City Of Cape Town

INGOT Brokers Obtains CMA License in Kenya Shortly After Attaining the FSCA License in South Africa

NAIROBI, Kenya, Nov. 24, 2022 (GLOBE NEWSWIRE) — via InvestorWire – The Capital Markets Authority (CMA) in the Republic of Kenya issued a license to INGOT Africa Ltd (INGOT Brokers) on Tuesday, Nov. 1, 2022. The license will allow INGOT Brokers to operate as a Non-Dealing Online Foreign Exchange Broker under the Capital Markets Act (Cap 485 A of the laws of Kenya) and the Capital Markets (Online Foreign Exchange Trading) Regulations, 2017.

The CMA license further cements INGOT Brokers’ efforts to strengthen its presence in Africa and present premium trading services to all investors. Receipt of the CMA license follows the milestone achieved last September when INGOT RSA (PTY) LTD earned the official Financial Sector Conduct Authority (FSCA) license in South Africa.

INGOT Africa Ltd is dedicated to empowering youth in Kenya and surrounding countries in the cities and in rural areas by providing free education aimed at enhancing financial literacy through INGOT Academy, which is designed to teach and train young individuals on investing and trading financial markets. The academy is also focused on identifying, educating, and training Introducing Brokers (IBs) and affiliates to grow their online trading services and optimize their potential returns, where it grants them access to utilize INGOT Brokers’ facilities, such as educational materials, webinars, seminars and personal training sessions.

About INGOT Africa Ltd

INGOT Africa Ltd is a premium multi-asset brokerage firm aiming to make financial markets available and accessible to all traders. The company has fostered and sustained a world-class trading environment with the highest quality of online financial services as it provides traders with an award-winning platform, excellent training conditions, great liquidity and accessibility to financial markets. It consistently delivers a unique trading experience. These cover a variety of financial derivatives and CFD instruments, including commodities, stocks, indices, ETFs and currencies. Additionally, the INGOT Brokers team goes the extra mile in supporting clients regardless of their experience level.

For more information, contact:
Sylvesters Munubi| Marketing Lead| INGOT Brokers Africa
s.munubi@IngotBrokers.com
Tel: 254707392645

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Tusk Innovation Announces New Products ‘Combo’

TUSK PRODUCT

TUSK PRODUCT ZEN

LONDON, Nov. 24, 2022 (GLOBE NEWSWIRE) — Tusk Inc. Limited (www.tusklimited.com) a company which started in 2012 as a capital management company in the United Kingdom and Kuala Lumpur with offices around the world, and now is one of the leading electrical solution companies which focus on producing for users of mining equipment, solar energy and adapters is announcing is k new products combo. The Product line is mainly for electrical purposes. For any miner bought, it comes with a solar panel, to reduce power consumption. See products here https://tusklimited.com/products

As one of the top Electrical solution companies, Tusk innovation has announced 30% discounts on its combo of mining equipment, which combines a solar panel with a bitcoin miner. With their recent movement from polycrystalline to photovoltaic materials, Tusk inc. has tested over time the efficiency of combining their solar products with cryptocurrency miners, and this has proven to be the most effective. Tusk inc. investors can now with ease, mine their coins without interruptions, lesser risks and maximum profit.

This is an effort to reduce the amount of electricity used when clients mine cryptocurrencies, and it was disclosed by the COO, John Walls, last week. According to Walls, “Reports going around made it evident that the quantity of electricity miners require may be too large to handle, therefore we obtained a plausible option.”

Mining Profits
Although it is admirable and highly profitable for many people to set up cryptocurrency mining farms, speculations are rife that they may incur significant costs, particularly in terms of electricity use. By providing you with a Solar Panel, which is unconnected to your electricity bills and a bitcoin mining device that can perform dual mining tasks, Tusk Inc. has created a long-lasting solution. You can simply mine your coins and not bother about the market’s volatility, while also ignoring power consumption.

Tusk Inc. has distinguished itself from others, in that customers can get crypto wallet development services as well as graphics processing units from the company, which has offices on three continents. It also has extensive experience in Blockchain development and bitcoin mining solutions, among other areas.

About Tusk
Established in 2012 by team of management experts, and later joined by a team of technology experts, Tusk Inc. is now one of the leading electrical solution providers. They pride themselves also in their ability to manage risk effectively, since they have been in the business of managing risks for over a decade. And through several advancements in technology, they have incorporated less risky ventures into the Risk Management system, one of which is cryptocurrency mining, using photovoltaic materials.

John Walls
PR Manager
john@tusklimited.com
(+44)7451214344

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/94500cd7-ba35-4ad9-8179-1f5f89263358

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