Zimbabwe quadruples electricity prices to fund power investment . Zimbabwe has increased the average electricity tariff by 320% to let the State power utility ramp up production and improve supplies at a time of daily rolling power cuts, the national energy regulator said on Wednesday. Power cuts lasting up to 18 hours have hit mines, industry and homes and, together with a devastating drought, have been cited by the treasury as among the main reasons why the economy is set to contract by up to 6% this year.

Drought conditions persist in some parts of the country – Agriculture dept . Below normal rainfall is anticipated over the central and south-eastern parts of South Africa during late spring, while above normal rainfall is expected during early summer to mid-summer in the central and eastern regions, the department of agriculture, forestry and fisheries said on Wednesday, citing the national weather service. In a statement, the department said drought conditions persisted in some parts of the country, with water restrictions still in place in several provinces. The average level of major dams had increased in the Western Cape but decreased in other provinces.

Johannesburg council plans to table new draft housing policies . The city of Johannesburg will in coming months table drafts on three new housing policies to guide processes in allocating reconstruction and development programme (RDP) houses, giving people serviced sites to build their own homes and providing temporary emergency accommodation to those in need, it said on Wednesday. In a statement, member of the mayoral committee for housing Meshack Van Wyk said the council had held one of its final drives on Tuesday to bring the draft policies to residents.

Two mammoth power plants are sinking Eskom and South Africa . South Africa’s economy was roaring along in 2007 on the back of the global commodities boom when power shortages struck, bringing mines and smelters to a halt. Then-President Thabo Mbeki publicly apologized for prevaricating about adding generation capacity despite repeated warnings that supply was constrained, and state power utility Eskom Holdings swiftly opened the spending taps. The botched implementation of the expansion plan has haunted the country ever since.

Global value chain participation could offer boost for developing countries . In an era of slowing trade and growth, developing countries can achieve better outcomes for their citizens through reforms that boost their participation in global value chains, a new World Bank Group report has found. These reforms can help these countries expand from commodity exports to basic manufacturing, while ensuring that economic benefits are shared more widely across society, the report states.

Gauteng prioritises agriculture, township economy, manufacturing growth . Gauteng economic development, agriculture and environment MEC Dr Kgosientsho Ramokgopa on Tuesday said the province continued to experience pressure for further economic development, owing to about 4 0...

Insimbi achieves decent interim growth . Despite a challenging local and global economic environment, metals supplier Insimbi on Tuesday reported an 11% increase in its headline earnings a share from R8.47 to R9.42, while earnings a share saw a 4% increase from R9.12 to R9.48, for the six months ended August 31, 2019. Revenue for the period increased by 13% from R2.1-billion in the prior comparable period, to R2.4-billion, with net profit coming in at R35.8-million for the six months.

Biodiversity, climate everyone’s issues – Environment Minister . South Africa is one of the world’s top three mega biodiverse nations along with Brazil and Indonesia, said Environment Forestry and Fisheries Minister Barbara Creecy in her address to the Oppenheimer Research Conference (ORC). “We are thus one of the richest countries in terms of the diversity of plants and animals both marine and terrestrial and levels of endemism,” said Creecy . (Also watch attached Creamer Media video.)

First Presidential Economic Advisory Council meeting to get underway . President Cyril Ramaphosa’s 18-member Presidential Economic Advisory Council will have its first sitting on Wednesday, at the Presidential office, in Cape Town.

Last week the Presidency announced the...

Gauteng prioritises agriculture, township economy, manufacturing growth . Gauteng economic development, agriculture and environment MEC Dr Kgosientsho Ramokgopa on Tuesday said the province continued to experience pressure for further economic development, owing to about 4 000 people moving to the province each week in the hopes of gaining access to better opportunities and prosperity. This added to the province's existing population of 14-million, he said during a strategic implementation plan engagement event, which aimed to inform the province's growth policy going forward.