Browsing: South Africa

Switching from coal to renewable energy is vital for South Africa to stabilize its power output and to create employment. The switch from coal to renewable energy is costly and many African nations are dragging their feet.

The situation is further exasperated by the fact that of recent years, many African nations have been discovering oil and many more are conducting explorations offshore. The potential of changing their economies from the sale of crude oil is far too promising to forgo.

This is a point that will be driven home at the upcoming COP27 in Egypt later this year. Africa will be looking to push the West to provide funding for the renewable energy transition. This time around, the South Africa deal stands as a concrete example that with sufficient funding, the transition is not only doable but plausible and strung with multifaceted benefits including employment.

The goal of JETP is to help South Africa decarbonise and switch to renewable energy for its power needs as aligned in the country’s Nationally Determined Contribution emissions goals.

Through the program, South Africa will mobilise an initial commitment of $8.5 billion for the first phase of financing, which has now been secured and whose distribution plan will be announced next month in Egypt at the COP27.

“The Partnership is expected to prevent up to 1-1.5 gigatonnes of emissions over the next 20 years and support South Africa to move away from coal and to accelerate its transition to a low emission, climate resilient economy,”  reports the European Commission.

The market growth is extensively attributed to the rising health and fitness awareness, growing penetration of the internet & smartphones, and increased consumer disposable income levels.

The rising adoption has led to an increase in device development & innovation as more market players race in to deliver the growing demand and capture a higher market share.

According to Kewalramani, to set itself apart from competitors, Fitbit has evolved from being a pure fitness tracking device company to bringing more functionality and innovation around stress and sleep management to help users gain control of their health goals.

Mining MX the South African mining industry journal published its 2022 edition of the Mining Yearbook recently. For many years,…

China presently has the largest sum of foreign exchange reserves in the world. When its over US$ 3 trillion in reserves is added to the reserves of the other BRICS member states the questions as to why they cannot issue their own currency start to grow louder.

Talks of a common currency fizzled out as more pressing national and international matters eclipsed the idea. This year 2022 has seen renewed calls for a common reserve currency emerge once again. This time Russia is leading the call for the creation of a reserve currency that will be an alternative to the United States dollar as a mechanism for the settlement of international transactions.

Russia’s motive for making such a call is obvious, the country has been at war with Ukraine since February 2022. This aggression against Ukraine has earned Russia some of the most stringent economic sanctions in history. What has been the greatest pain point is that Russia has lost access to at least half of its foreign exchange reserves since the beginning of its war with Ukraine.

The war in Ukraine has shown how dependent Europe is on natural gas for power. Before the conflict broke out…

Zimbabwe has been experiencing intermittent power generation shortfalls due to an ageing plant at its Kariba hydropower station and the main coal-driven power generators at Hwange.

According to Crisis 24, Zimbabwe will likely remain susceptible to rounds of load shedding through 2022 and possibly beyond if additional power production capacity is not made available. In mid-June, a circular from Meikles Hotel in Zimbabwe said that they have been operating on generator power for about a week and were now offering guests buckets of hot water to bath with. This is also one of the effects of the increased power cuts evident, although it is a few months apart.

Crisis 24 added that temporary commercial and communications disruptions are possible while load shedding and unscheduled disruptions are taking place; cellular and mobile services could be affected. Traffic disruptions and longer driving times are possible during these periods due to malfunctioning traffic signals. Power outages could also result in the temporary unavailability of essential services such as ATMs and filling stations.

Partnerships have largely driven technology innovation and global collaborations among tech companies, and Alibaba Cloud is not slowing down in…

CyborgIntell Africa says it will work closely with financial institutions and other enterprises to help them rapidly develop, deploy and operationalize AI applications at scale.

A statement says the CyborgIntell platform addresses the key challenges companies face in the data science/machine learning lifecycle – from data selection and modelling, and operationalizing AI, to managing risk and governance.

“AI is a powerful and transformative technology, yet many companies across the world find it difficult to unlock its full potential. More than a third (36%) of organizations take more than 90 days to deploy data science machine learning (ML) projects, while the failure rate of such initiatives is estimated to be 85% across industries,” said McLachlan, CyborgIntell managing director.

Growthpoint Properties Limited published its financial results for 2021 on the 15th of September 2022. The real estate investment trust…