South Africa’s government plans to promote “radical economic transformation” to forge a class of black industrialists, Minister of Public Enterprises Malusi Gigaba said, as the ruling African National Congress appeared on track to extend its 20-year rule.
South Africa’s state power company was “let down” by contractors including Alstom SA and Hitachi Power Africa, whose errors helped delay the startup of Africa’s biggest power plant for more than two years, according to the utility’s former finance director, Paul O’Flaherty.
South African Airways, sub-Saharan Africa’s biggest airline by passengers, may establish hubs in East and West Africa as it seeks to expand its profitable African routes and compete with companies including Kenya Airways Ltd. and Ethiopian Airlines.
South Africa’s minister of public enterprises, Malusi Gigaba, appointed seven new board members and a chairman to South African Airways, the continent’s biggest airline, less than a day after they resigned.
Eskom Holdings Ltd., South Africa’s state power utility, received a $365 million loan from the African Development Bank to help fund wind and solar plants, Public Enterprises Minister Malusi Gigaba said.
Eskom Holdings SOC Ltd., which supplies 95 percent of South Africa’s power, said it supports the government’s proposal to declare coal a strategic resource and should benefit from slumping prices for the fuel.