Day: March 17, 2023

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Curia Appoints Philip Macnabb as Chief Executive Officer

Philip Macnabb

Philip Macnabb appointed CEO of Curia

ALBANY, N.Y., March 16, 2023 (GLOBE NEWSWIRE) — Curia, a leading contract research, development and manufacturing organization, today announced that Philip Macnabb has been appointed as chief executive officer, succeeding John Ratliff.

“On behalf of the Board of Directors, we thank John Ratliff for the tremendous progress that Curia made during his tenure,” said Curia board members Sean Cunningham, managing director, GTCR and William McMullan, managing director, Carlyle. “We are delighted to welcome Phil, a seasoned executive who has an impressive track record of focusing companies on their core value proposition, enhancing the customer experience and building organizations with real and sustaining value. Curia is well positioned in the growing CDMO market, and we are excited about its outlook under Phil’s leadership.”

Mr. Macnabb commented: “Curia is a unique company with deep scientific expertise across its end-to-end offering. We have incredible people in the global Curia community, who are highly motivated by our noble purpose of improving patients lives. Going forward, we will focus on creating sustainable value for customers and employees.”

Macnabb joins Curia having spent years in leadership roles at various companies in the healthcare industry. Prior to that, Macnabb held senior positions in technology, distribution, and consumer products segments. He received an MBA from the University of Chicago and a BS in Business Administration from Purdue University.

About Curia

Curia is a leading contract research, development, and manufacturing organization providing products and services from R&D through commercial manufacturing to pharmaceutical and biopharmaceutical customers. Curia’s nearly 4,000 employees at 29 locations across the U.S., Europe, and Asia help its customers advance from curiosity to cure. Learn more at CuriaGlobal.com.

Corporate Contact:
Sue Zaranek
Curia
+1 518 512 2111
corporatecommunications@CuriaGlobal.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d1ee2752-5afe-44c8-ab11-33a29f2137f0

GlobeNewswire Distribution ID 8790280

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SA-Tanzania in talks to strengthen relations

While South Africa has enduring ties with Tanzania, the two countries can do more to strengthen cooperation, says President Cyril Ramaphosa.

“Since our two countries established diplomatic relations in 1994, we established the Bi-National Commission in 2011, bilateral trade and investment between our two countries has continued to grow,” President Ramaphosa said.

Speaking at the South Africa-Tanzania Business Forum held in Pretoria on Thursday, President Ramaphosa said the partnership between the two nations is founded on a friendship that stretches back many decades, when the people of Tanzania stood alongside the people of South Africa during the struggle to end apartheid and establish a democratic society.

“We found common ground on practical measures we need to take to forge a new partnership aimed at enhancing and increasing our bilateral trade and investment relations,” said President Ramaphosa.

This as the President earlier hosted his Tanzanian counterpart, President Samia Suluhu Hassan on an Official State Visit to South Africa earlier on Thursday.

He said that South Africa is a major investor in Tanzania. Between 1997 and 2022, South African companies have invested in a total of 250 projects, valued at US$ 1 billion, which have created more than 18,000 jobs in Tanzania.

The projects cover sectors like agriculture, construction and real estate, telecommunications, financial services, transportation, manufacturing, mining and petroleum, tourism, energy infrastructure, services and broadcasting.

“There is still much scope for South Africa and Tanzania to strengthen cooperation in these sectors and to expand into other sectors, such as minerals beneficiation, health care and pharmaceuticals, and infrastructure development,” he said.

South Africa and Tanzania are both State Parties to the Southern African Development Community (SADC) Free Trade Agreement which governs trade relations between the two countries.

“It is crucial that we leverage the SADC Free Trade Agreement to increase mutually beneficial trade flows. To achieve this goal, we need deeper and more meaningful dialogue between our respective private sectors,” President Ramaphosa said.

Both South Africa and Tanzania convened the business forum to encourage the private sector to make practical suggestions about the basket of products that should be targeted for trade under preferential terms.

President Ramaphosa said there is a need to transform the structure of trade relations with each other and with the rest of the world.

“We are buying goods from other countries that we could be buying from each other. We are creating jobs in other countries that we could be creating in South Africa and Tanzania.

“We must therefore make a concerted effort to increase the supply of ‘Made in South Africa’ and ‘Made in Tanzania’ goods into each other’s markets. It is our desire to build on the solid relations between our two countries and to harness our collective capabilities to forge a new deal for the mutual benefit of all our people,” the President said.

President Hassan said they have agreed to enhance cooperation in the areas of trade and investment. She said South Africa is among the main sources of direct foreign investment in Tanzania.

“We have agreed to enhance our cooperation in the areas of trade and investment considering that South Africa is among the main sources of direct foreign investment in Tanzania. We hope to forge new deals from the business forum,” she said.

She said the Tanzanian government has amended tax laws to ease business transactions for both countries.

“I encourage South African businesses to invest in Tanzania. We are ready to work with the private sector,” she said, adding that tourism and manufacturing are the leading sectors for investment in Tanzania.

Tanzania is one of South Africa’s foremost trading partners on the continent and South Africa wishes to see an increase in trade and investment and broader economic development between the two countries.

To this end, total trade between South Africa and Tanzania increased from R6,89 billion in 2021 to R8,71 billion in 2022.

Source: South African Government News Agency

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Eskom welcomes placement on CreditWatch Positive

Eskom has welcomed its placement on CreditWatch Positive by rating agency S&P Global as a positive development, which endorses the positive impact of the Debt Relief on Eskom’s financial position and overall liquidity.

The placement comes after the announcement by the National Treasury of debt relief measures for Eskom in February.

Eskom said this is an indication to the market that the agency could improve Eskom’s CCC+ credit rating by one or more notches, based on their expectation that Eskom’s liquidity position will be strengthened by the debt relief.

“The announcement by S&P Global is extremely positive in that it endorses the positive impact of the Debt Relief on Eskom’s financial position and overall liquidity. It will also serve to allay fears lenders and creditors of Eskom might have with respect to Eskom’s financial stability,” Eskom Acting Group Chief Executive Calib Cassim said on Thursday.

The potential rating upgrade is expected to take place once the Debt Relief Bill has been approved and signed by Parliament and once the final terms and conditions of the debt relief have been provided by National Treasury.

In the 2023 Budget Review, National Treasury announced debt relief of R254 billion for Eskom.

This comprises advances to deal with Eskom’s debt service requirements over the next three financial years. The National Treasury also committed to taking over up to R70 billion in Eskom debt in the 2026 financial year.

The Debt Relief will reduce Eskom’s debt by as much as R168 billion, while at the same time alleviating pressure on Eskom’s operating cash flow, enabling expenditure on much needed capital to restore the energy availability of Eskom’s fleet of power stations and to invest in strengthening and expansion of the networks.

Source: South African Government News Agency

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Eskom power generation fleet records improvements

There has been notable gradual improvements in Eskom’s power generation fleet.

“Over the past week, six coal-fired power stations achieved energy availability factor (EAF) of 70%, a milestone last achieved on 08 May 2022,” Eskom said in a statement on Thursday.

Three of these power stations, Camden, Duvha and Matla, have been on a sustained upward trend as a result of a reduction of plant breakdowns and the return to service of a number of units that were on unplanned breakdowns.

Lethabo, Matimba and Medupi have been experiencing continued good performance and remain among Eskom’s three best performing stations.

In addition, Lethabo was able to sustain performance after a quick recovery following a wet coal incident experienced last week, due to flooding after excessive rainfall.

“While this is still early progress, it shows a positive trajectory from actions taken to recover Eskom generation plants. This is consistent with Eskom’s target to achieve 70% EAF by the 2025 financial year,” said Eskom Acting Group Chief Executive Calib Cassim.

Eskom Board Chairperson Mpho Makwana said the marked improvement in performance at Camden, Duvha and Matla as well as the sustained commendable performance at Lethabo, Matimba and Medupi gives assurance that if the entity continues to apply an all-hands-on-deck-approach, it will continue to improve the energy availability.

“I specifically commend the various teams at these power stations for the great work and also applaud all the Eskom employees for their continued hard work and dedication,” Makwana said.

The organisation continues to pursue generation recovery programmes to recover operations and achieve sustained improvements in generation performance.

Source: South African Government News Agency

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Load shedding eased to Stage 2

Due to further improvements in the generation capacity over the past 24 hours, Eskom announced that it has implemented Stage 2 load shedding from midday until further notice.

“Eskom will provide an update as soon as any significant changes occur,” the power utility said on Friday.

This follows Thursday’s announcement that Eskom’s power generation fleet had improved.

According to the State-owned entity, over the past week, six coal-fired power stations achieved an energy availability factor (EAF) of 70%, a milestone last achieved on 8 May 2022.

Eskom said the breakdown of Camden, Duvha, and Matla power plants has reduced significantly, meaning that they also have returned to service.

In addition, Lethabo, Matimba, and Medupi are also showing signs of continued good performance and remain among Eskom’s three best-performing stations.

“In addition, Lethabo was able to sustain performance after a quick recovery following a wet coal incident experienced last week, due to flooding after the excessive rainfall.”

The organisation said it continues to pursue generation recovery programmes to recover operations and achieve sustained improvements in generation performance.

Source: South African Government News Agency

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Countdown to 2023 Buy Local Summit & Expo

All roads lead to the Sandton Convention Centre for the 11th edition of the Proudly South African Buy Local Summit and Expo.

Speaking at a media launch on Thursday, Proudly SA Chief Executive Officer (CEO), Eustace Mashimbye, said the intention of the summit is to ensure locally produced products are exposed.

“In this way, we can save jobs in those companies and get them to create much needed new job opportunities because you will be buying from them.

Now in its 11th year, the 2023 edition of the two-day summit will for the first time be held in a physical venue post the COVID-19 pandemic. It will also be livestreamed.

The theme this year is ‘Growing the Economy and Creating Jobs through Localisation’.

One of the key highlights of the summit this year will be the honoring of the legendary writer and actor, Dr. John Kani, who will be given a lifetime achievement award by President Cyril Ramaphosa.

The President will also give a keynote address at the localisation dinner.

Gauteng Premier Panyaza Lesufi will do the welcoming on the first day, and the Minister of Trade and Industry (dtic), Ebrahim Patel, and the Minister of Small Business Development, Stella Ndabeni Abrahams, will also address the gathering.

Proudly South African expressed words of gratitude to its supportive partners, sponsors in business and government.

Proudly SA Chief Marketing Officer, Happy Ngidi, gave a sneak preview of what people can expect at the summit.

“There will be robust discussions that will take place, and this includes the energy crisis. The focus will be on looking for localised solutions on the existing renewable energy products.

“We will showcase the value chain behind the local fashion and clothing textile industry, local brewery and its beneficiaries, automotive industry, family businesses and the food industry. The question for everyone is, ‘Are you buying local?’,” said Ngidi.

There will be a presentation by Mashimbye of local procurement pledges from 20 companies.

Consumer registration for the 11th annual Buy Local Summit & Expo is free and visitors can join in any of the sessions. For more, visit www.proudlysa.co.za.

Source: South African Government News Agency

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Load shedding to be suspended where possible

Due to some recovery in generation capacity, Eskom says it will suspend load shedding where possible over the weekend.

In a statement on Friday, the power utility said that due to some recovery in generation capacity over the past 48 hours and lower expected demand, load shedding will be reduced to Stage 1 from 5 am on Saturday until 4pm.

Thereafter, load shedding will be increased to Stage 2 until 5 am on Sunday.

“Load shedding will be suspended on Sunday between 5 am and 4 pm Thereafter, Stage 1 load shedding will be implemented from 4 pm on Sunday until 4 pm on Monday. Stage 2 load shedding will be in force from 4 pm on Monday until 5 am on Tuesday.

“Load shedding will then again be suspended from 5 am on Tuesday until 4 pm, thereafter Stage 2 will be implemented until further notice,” said the power utility.

Source: South African Government News Agency