{"id":846236,"date":"2025-12-12T07:38:19","date_gmt":"2025-12-12T05:38:19","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=846236"},"modified":"2025-12-12T07:38:44","modified_gmt":"2025-12-12T05:38:44","slug":"new-state-owned-company-for-south-africa-and-woman-who-stopped-total-grid-collapse-leaving-eskom","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/846236\/new-state-owned-company-for-south-africa-and-woman-who-stopped-total-grid-collapse-leaving-eskom\/","title":{"rendered":"New state-owned company for South Africa, and woman who stopped total grid collapse\u00a0leaving Eskom"},"content":{"rendered":"\n<p>The rand dipped against the dollar on Thursday following the release of local data, which included reports on formal sector employment, mining, manufacturing, and a business confidence index.<\/p>\n\n\n\n<p>The rand was trading at 16.9375 against the dollar, which is about 0.2% lower than the previous session&#8217;s close.<\/p>\n\n\n\n<p>Statistics South Africa reported that mining output rose by 5.8% year-on-year in October.&nbsp;<\/p>\n\n\n\n<p>Manufacturing production also saw an increase of 0.2% year-on-year in October, surprising economists surveyed by Reuters, who had anticipated a decline of 1.7%.<\/p>\n\n\n\n<p>Additionally, the statistics agency revealed that formal sector employment, excluding agriculture, increased by 0.3% quarter-on-quarter in the third quarter of 2025.<\/p>\n\n\n\n<p>According to Investec economist Lara Hodes, &#8220;A breakdown of the data indicates that part-time employees made up the majority of the hires during the quarter, while only a few full-time jobs were added.&#8221;<\/p>\n\n\n\n<p>For insights on private sector sentiment, the South African Chamber of Commerce and Industry published its Business Confidence Index, which rose to 132.3 in November, up from 123.8 in October.<\/p>\n\n\n\n<p>This increase was primarily driven by a surge in overseas tourist numbers. On the Johannesburg Stock Exchange, the Top40 index was last reported up by 0.5%.<\/p>\n\n\n\n<p>On Friday, 12 December, the rand was trading at R16.87 to the dollar, R22.59 to the pound and R19.79 to the euro. Oil was trading slightly lower at $61.69 a barrel.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">5 important things happening in South Africa today<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><a  data-lightbox=\"post-image\" href=\"https:\/\/mybroadband.co.za\/news\/wp-content\/uploads\/2025\/12\/Isabel-Fick-2024-Eskom-Winter-System-Outlook-edited.jpg\"><img decoding=\"async\" src=\"https:\/\/mybroadband.co.za\/news\/wp-content\/uploads\/2025\/12\/Isabel-Fick-2024-Eskom-Winter-System-Outlook-edited.jpg\" alt=\"\" class=\"wp-image-622939\"\/><\/a><figcaption class=\"wp-element-caption\"><em>Isabel Fick<\/em><\/figcaption><\/figure><\/div>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>New electricity SOE coming to South Africa:<\/strong> The Minister of Electricity has approved Eskom\u2019s new unbundling plan, which recommends the creation of a new state-owned enterprise separate from Eskom. Eskom has drafted an unbundling strategy that would end its monopoly on electricity in South Africa by breaking the company down into smaller, independent divisions. [<strong><strong><a href=\"https:\/\/newsday.co.za\/south-africa\/13298\/south-africa-to-get-a-new-electricity-soe\/\" target=\"_blank\" rel=\"noreferrer noopener\">Newsday<\/a><\/strong><\/strong>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Woman who stopped total grid collapse\u00a0is leaving Eskom:<\/strong>\u00a0Eskom veteran Isabel Fick, a key figure in the power utility\u2019s enormous efforts to avert a total grid collapse amid severe generation challenges, is resigning to join a private power company. She will join Africa GreenCo as its group head of trading and operations in 2026, after completing her duties at the NTCSA. [<strong><strong><a href=\"https:\/\/mybroadband.co.za\/news\/energy\/622923-the-woman-who-stopped-a-total-grid-collapse-in-south-africa-is-leaving-eskom.html\" target=\"_blank\" rel=\"noreferrer noopener\">MyBroadband<\/a><\/strong><\/strong>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Good news for South Africa:<\/strong>\u00a0A US House committee approved a bill to renew Washington&#8217;s preferential trade program for Africa for another three years, with no immediate mention of excluding South Africa, as previously suggested by the US trade envoy.\u00a0[<strong><a href=\"https:\/\/www.news24.com\/business\/economy\/agoa-extension-gets-its-first-green-light-and-sa-not-excluded-yet-20251211-0813\" target=\"_blank\" rel=\"noreferrer noopener\">News24<\/a><\/strong>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Trouble for R7.2 billion Curro buyout:<\/strong>\u00a0The Financial Sector Conduct Authority (FSCA) is investigating a complaint of potential insider trading in Curro shares ahead of the Jannie Mouton Foundation&#8217;s R7.2 billion acquisition offer. The regulator confirmed that suspicious trades were reported to them prior to the announcement, and the complaint is currently under assessment. [<strong><a href=\"https:\/\/www.moneyweb.co.za\/in-depth\/investigations\/fsca-assesses-suspicious-curro-trades-before-r7-2bn-buyout-offer\/\" target=\"_blank\" rel=\"noreferrer noopener\">Moneyweb<\/a><\/strong>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>New international flight for South Africa<\/strong>: South African Airways (SAA) has launched a new direct service between South Africa and Mauritius. The airline held its inaugural flight this week on Tuesday, 9 December 2025, marking an important milestone for its continued growth and financial recovery. [<strong><a href=\"https:\/\/topauto.co.za\/news\/138850\/new-international-flight-for-south-africa-5\/\" target=\"_blank\" rel=\"noreferrer noopener\">TopAuto<\/a><\/strong>]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here are 5 important things happening in South Africa today, Friday, 12 December 2025.<\/p>\n","protected":false},"author":92,"featured_media":822947,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-846236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5-things","tag-5-important-things-happening-in-south-africa-today","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/846236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=846236"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/846236\/revisions"}],"predecessor-version":[{"id":846242,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/846236\/revisions\/846242"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/822947"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=846236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=846236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=846236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}