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SMME Support as of July 2020

What the Renewable Energy (IPP) Projects have contributed to the Small Medium Micro Enterprises in South Africa

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The purpose of this presentation is to provide the information on what the Renewable Energy (IPP) Projects have contributed to the Small Medium Micro Enterprises in South Africa.

AFRICOAST ENGINEERS SA ESTABLISHES RENEWABLE ENERGY COMPANY

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Renewable energy engineering firm AfiCoast Engineers SA has announced that a new company,
AfriCoast Energy, will now be responsible for all future renewable energy projects - particulary
wind and solar - while it will also play a key role in guiding AfriCoast Engineers' current
basket of renewable energy projects.
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Industry News

South African central bank raises key rate by 25 basis points

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South Africa's central bank raised its key interest rate by 25 basis points to 7% on Thursday, saying the decision was aimed at managing risks and ensuring that inflation returns to target. The majority of economists polled by Reuters had expected a 25-basis-point increase in the policy rate, after inflation accelerated sharply in April. Annual inflation was 4.0% in April, up from 3.1% in March, driven mainly by fuel price rises triggered by the US-Israel war against Iran. The South African Reserve Bank targets inflation of 3% with a tolerance band of 1 percentage point either side.

South Africa poised for first rate hike since 2023 on Iran war

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South Africa’s central bank is set to raise borrowing costs for the first time in three years as policymakers seek to combat inflationary pressures stemming from the Iran war, including sharply higher oil prices. All but one of 19 economists surveyed by Bloomberg forecast Governor Lesetja Kganyago and the five other members of the monetary policy committee to lift the benchmark interest rate by 25 basis points to 7% on Thursday. The decision, due shortly after 3 pm in Pretoria, is expected to be split.

South Africa targets January 2027 for revised AI policy after earlier withdrawal

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South Africa's communications minister established an independent panel of experts to review a draft national policy on artificial intelligence, after an earlier version was withdrawn when it was found to contain fictitious and potentially AI-generated references. Solly Malatsi briefed a parliamentary committee on Tuesday after pulling the earlier draft. The target publication date for public comment is January 2027, according to Jeanette Morwane, the Department of Communications and Digital Technologies acting deputy director-general.
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