Good morning. Today we’re covering Eskom’s need for private sector funding, the latest evidence against suspended public protector Busisiwe Mkhwebane, and the Numsa elective conference results.
Eskom looks to private sector to help with R990bn it needs for new generation – Business Day (for subscribers)
Eskom says it will need a whopping R1.2 trillion from private investors to install sufficient new generation capacity. Eskom says it will need the investment by 2030 but cannot foot the bill by itself as it sits saddled with some R400 billion in debt.
Around R990 billion “will have to be invested in new generation capacity, including between 50GW and 60GW of variable generation capacity from renewable sources, 10GW of storage and 6GW of “firm capacity” such as gas-fired power.” Read more here.
Whistle-blower tells of Mkhwebane’s heavy hand and ‘reckless litigation’ – Daily Maverick
Sphelo Samuel, who has been with the office of the public protector since 2000, told the parliamentary inquiry into Busisiwe Mkhwebane’s fitness to hold office that the suspended public protector blocked findings against certain politicians.
Samuel said Ace Magashule and Mosebenzi Zwane were shielded by Mkhwebane in the Vrede dairy farm investigation. Samuel also said draft reports that implicated the pair weren’t included in the court records.
Today, Samuel will be cross-examined as the inquiry continues. Read more here.
Chirwa, Jim re-elected unopposed to Numsa leadership positions – news24
Andrew Chirwa was re-elected as National Union of Metalworkers of South Africa (Numsa) president while Irvin Jim also retained his position as secretary general after both stood unopposed at the union’s congress on Wednesday night.
But the interdicted congress was carried out under a cloud of litigation, “as officials that were suspended from the union successfully overturned their suspension at the Labour Court and got an order interdicting the congress until it could be held in full compliance with the Numsa constitution.” Read more here.
Here’s what else we’re reading today:
SA banks at high risk of money laundering, terrorist financing – regulator – EWN
ANC details plans to deal with those implicated in state capture report – EWN
Petrol price: AA hopes for more relief in September as fuel levy reduction set to end – The Citizen
Nersa to consult on two years’ worth of Eskom tariffs instead of one – The Citizen
Meta posts first-ever revenue drop as inflation throttles ad sales – Daily Maverick
Pick n Pay reveals market share among middle class and more affluent shoppers – promising big changes – BusinessTech
These companies will provide the first batteries for Eskom’s massive backup energy storage system – MyBroadband
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