Mozambique outlines fund plan for $96 Billion gas windfall

  INTERNATIONAL – Mozambique published its proposed model for a sovereign wealth fund as it prepares to reap as much as $96 billion — more than six times the size of its current gross domestic product — from liquefied natural gas projects that companies including Total SE are building. The developments, which are the biggest private investments yet in Africa, could make Mozambique the continent’s second-biggest producer of the fuel. The central bank laid out plans for how the fund may function and which institutions it will report to. The…

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Fashion retailer StyleMode launches in SA, powered by Loot.co.za

    CAPE TOWN – Every challenge has an opportunity waiting to be discovered. And that is certainly how e-commerce fashion retailer StyleMode read the business playbook when deciding to choose the tail-end of the lockdown to launch an online fashion business. Powered by Loot.co.za, StyleMode officially took to the digital fashion runway yesterday to provide savvy shoppers with even more choice on how to dress with flair. While South Africa may still be a fledgeling in the e-commerce space, the scope for business in this sector is excellent, according to StyleMode, with Statista.com…

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R30bn Mooikloof project ‘raises red flags

  Our obsession with mega projects is not good for South Africa – Development Action Group. By Adi Kumar 7 Oct 2020  14:55 An architect’s model of Mooikloof Mega City, which shows the massive scale of the Pretoria east development. Image: Suren Naidoo, Moneyweb The R30 billion Mooikloof housing project launched by President Cyril Ramaphosa earlier this month raises red flags for the future of housing. The project, at Mooikloof east of Pretoria, aims to able build “housing at scale” with 50,000 apartments, priced at between R495,000 and R799,000, and targeted at state employees. It will…

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SA’s post-pandemic energy plan

  n. Gwede Mantashe opened day two of AOW Virtual (7-8 October), an online summit from the team behind Africa Oil Week (www.Africa-OilWeek.com). Minister Mantashe’s address reflects the importance of South Africa’s role in the Africa Oil Week community, as the conference’s host nation for its 26 editions. The goal of AOW Virtual was to reignite the African upstream following a tumultuous year that has featured unprecedented supply and demand shocks in the sector. In his address, Minister Mantashe did not shrink from addressing the devastating effects of COVID-19 on South…

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Department monitors safety in mines

  The Department of Mineral Resources and Energy (DMRE) will intensify the monitoring and evaluation of mine health and safety management systems through inspections and audits during the remainder of the year. “As we approach the end of the year, all mine employers, employees, managers and supervisors are alerted to the historical high number of fatalities and injuries that occur during the last quarter of the year. This period is traditionally very difficult for health and safety at mines,” the department said on Tuesday. Historic data on mine accidents reveals…

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Engen brings much needed relief to the Agricultural sector

Engen brings much needed relief to the Agricultural sector In response to severe drought across vast tracts of South Africa and the associated hardships experienced by many farmers, Engen partnered with AgriSA earlier this year to help support the agricultural sector by driving contributions to their Drought Aid Fund. Over a six-month period, Engen contributed R1 to the Fund for every litre of participating Engen lubricant sold nationwide, raising R700 000 from April to September. AgriSA’s Drought Aid Fund is aimed at ensuring that farms remain in production and that…

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A successful sustainability model: Air Products SA’s state-of-the-art dissolved acetylene facility

  Air Products South Africa unveiled a dissolved acetylene (DA) facility in Midvaal two years ago with two clear objectives: to centralise the manufacturing of acetylene at a single dedicated high volume production facility, but more importantly to design it in such a way that it was aligned to the latest global trends in process technology, health, safety and environmental management. Guided by Air Products’ global engineering standards as well as years of management and operational experience, the in-house Air Products project team designed and constructed the facility to incorporate…

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Fresh data highlight a steady decline of SA’s manufacturing and mining sectors

    Manufacturing and mining data from Statistics South Africa this week indicate that the pace of deindustrialisation is picking up. The one bright spot is that while the mining sector’s output remains in a downward trajectory, sales are up because of prices. Let’s start with the manufacturing data released on Monday. Production in the sector fell 10.8% in August compared with August 2019, the 15th consecutive month of year-on-year decline. As NKC African Economics noted in a brief to clients, this underscores “how the sector was already struggling before…

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Dekra Industrial: keeping industry ‘on the safe side’ with holistic NDT and solutions

Dekra Industrial: keeping industry ‘on the safe side’ with holistic NDT and solutions

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