The Shoprite Group has finalised sustainability-linked loans totalling R3.5 billion for investments to expand its key environmental programmes as part of its wider sustainability strategy.
These include a R2 billion loan from Standard Bank (the bank’s biggest in the retail sector to date), and a R800 million sustainability-linked loan and a R700 million green loan (a first in the retail sector) from RMB for investment in environmental projects.
A further sustainability-linked loan is in the pipeline.
The loans will be used to expand the Group’s investment in:
Renewable energy and the increase of energy from renewable sources as a percentage of total electricity consumption;
Recycling cardboard and plastic;
Sustainable packaging, including reusable, recyclable and compostable packaging, containing recycled material; and
Energy efficiency, including LED lighting, and a monitoring system for refrigeration to reduce energy consumption and waste.
The Shoprite Group increased the installed capacity of its solar photovoltaic (PV) systems by 82% in the previous financial year.
These investments will enable the Group to expand on the substantial investments it has already made. In the previous financial year, it:
Reduced carbon emission intensity by 3.3% and water use intensity by 7.5%;
Increased the installed capacity of its solar photovoltaic (PV) systems by 82%;
Reduced electricity consumption by 150 million kWh through its LED lamp replacement project since inception;
Recycled 46 102tons of cardboard from stores and distribution centres, and diverted 10 241 tons of plastic waste from landfills; and
Paid R2.2 million in rebates to customers for reusing their Planet bags since inception.
According to Raghubir, the Group’s record to date has provided funders with demonstrable evidence of the nature and scale of its sustainability projects and ambitions and enabled the retailer to access a preferential cost of funding.
“The loans enable us to continue on the road to reduce our environmental footprint by using more renewable energy and sustainable packaging, and recycling more waste. These environmental programmes are key in our fight against climate change, and we are able to increase the pace and intensity of our actions with these loans.”
– Sanjeev Raghubir, Group Sustainability Manager
“The loans allow us to continue to make a sustainable, positive environmental impact and improve our operational efficiencies, which in turn result in additional ongoing savings that we can pass on to our customers.”
Google Wallet is now available in South Africa, giving locals a digital wallet to manage payments, loyalty cards, and even boarding passes.
In addition to contactless and digital payments, the app includes a number of tools for managing your cards and various documents.
“Access to technology is vital for economic prosperity as millions of people use their mobile devices daily to tap and pay at stores, pay for public transportation and to utilise a variety of passes. At Google, we have learned that great things happen when technology works for everyone,” Google SA Country Director, Alistair Mokoena, said in a statement.
“By including everyone – a dynamic ecosystem of manufacturers, developers and users – we want to make digital wallets accessible to everyone through fast, secure access to their everyday essentials.”
But what exactly is Google Wallet, how do you access it, and which banks support it? Here’s all you need to know.
What is Google Wallet?
The Google Wallet digital wallet is different from Google Pay, which facilitates multiple ways to make card payments. Luckily, Pay is part of the Google Wallet offering.
In addition to storing your debit and credit cards securely and enabling payments, the Android app also stores digital documents such as tickets, boarding passes, and vaccine certificates.
You can even add gift cards to the wallet — allowing your phone to replace a variety of physical items you would usually need to carry with you.
“Most importantly, security and privacy are built into every part of Google Wallet, making payments safer and allowing people to transact seamlessly and with confidence throughout the day. This will allow users to make transactions using a virtual card number (a token),” Mokoena says.
How to access the digital wallet
Since Google Pay has been available through your Chrome browser and the Play Store, you may be wondering how you go about activating the full suite of features from Google Wallet.
If you already have a card linked to your Google account, it will automatically load to your Google Wallet.
To get started with the other features, you can download the app from the Google Play Store.
When you open the app for the first time, you can choose the Google Account you want to use. You can then get started loading cards and documents by tapping the “Add to Wallet” button.
This will give you the option to add a debit or credit card, transport passes, loyalty cards, and gift cards.
Once your app is set up, you can also add passes from Gmail to your wallet. So when your boarding pass is emailed to you, you will see it in the Wallet app.
Which banks support Google Wallet in South Africa?
In order to make payments using cards in the app, your bank will need to support the functionality.
At launch, FirstRand Bank, Discovery Bank, Investec, Standard Bank, ABSA and Nedbank customers will be able to add their cards. These users will then be able to make payments with their Android phones and Wear OS devices.
Google Wallet should work anywhere that supports contactless payments. This includes online stores, but also physical shops.
“We are very excited about the launch of Google Wallet in South Africa. We hope that people not only enjoy how easy it is to use, but also how secure it is for them to transact their business confidently,” Mokoena notes.
Soetwater wind farm, which is located in a remote part of the Karoo Hoogland Local Municipality in the Northern Cape, will be able to generate 585 GWh every year, potentially averting the emission of approximately 600,000 tons of CO2 into the atmosphere annually. The wind farm features Vestas V136-4.2 MW wind turbines, the largest on the African continent to date.
Awarded to Enel Green Power in April 2013 as part of round four of South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), the wind farm is supported by a 20-year Power Purchase Agreement with South African energy utility provider, Eskom.
Soetwater wind farm brings the number of EGP RSA wind farms in operation up to seven, and includes Nojoli (88 MW), Oyster Bay (140 MW), Nxuba (140 MW), Garob (140 MW) and Karusa (147 MW).
Collectively, the renewable energy supplier now has 12 operational wind and solar projects in South Africa. With are projects now in operation, the business has an overall installed capacity of 1.2GW.
Manuele Battisti, Country Manager of EGP RSA, says construction of the facility, which involves a 200-million-euro (R 3 503 410 000,00) investment in South Africa, commenced in September 2019.
“The construction process was hampered at times by stop/start delays in response to COVID-19 lockdowns and restrictions. The hard lockdown in 2020 – in particular – resulted in difficulties relating to the transportation of people between provinces, as well as the transportation of experts and commissioning teams from other parts of the world. This highlights, all the more, what a significant achievement this is for both the project team, and the country,” he adds.
EGP RSA is committed to playing a crucial role in helping the country solve its energy crises using renewable energy solutions. It also employs local staff and hires local contractors in the construction process, with the aim of promoting meaningful socio-economic and enterprise development. At the peak of the construction phase, the project employed 1,160 people.
As part of its Creating Shared Value initiative, EGP RSA has assisted underserved communities in close proximity to the wind farm in the following ways:
An educational support programme, which included the installation of twelve interactive smartboards for Roggeveld Primary School and Sutherland High School, both located in Sutherland, the closest town to the wind farm.
To offset the devastating impact of the nationwide lockdown on vulnerable communities, EGP RSA donated food relief parcels to approximately 200 families made up of women, children and the elderly. The initiative was undertaken in close consultation and support of the Karoo Hoogland Local Municipality.
In partnership with local municipalities, EGP RSA donated close to 1.1 tons of wooden pallets to local community members and organisations, which will be used for recreational, housing and educational purposes.
Notably, additionalprojects such as community leadership training, youth skills development, a drug and substance awareness campaign, further educational support to the Sutherland-based schools, equipment to upgrade the sports facility and the provision of medical supplies for the only clinic in Sutherland have been earmarked for implementation during the third and fourth quarters of the 2022/2023 financial year.
Battisti says EGP RSA’s work at Soetwater was completed without any zero lost-time incidents. “At Soetwater, we provided training for employees on more than 30 different health, safety and environment (HSE) topics to ensure a safer working environment.
“Safety is incredibly important to the business and we pride ourselves on our safety record. Not only did the women and men who worked on the site consistently comply with existing safety procedures and protocols, they had to embrace a whole new set of protocols relating to Covid-19,” he concludes.
Enel Green Power®, within the Enel Group, develops and operates renewable energy plants worldwide and is present in Europe, the Americas, Africa, Asia and Oceania. A world leader in clean energy, with a total capacity of more than 54 GW and a generation mix that includes wind, solar, geothermal, and hydroelectric power, as well as energy storage facilities, Enel Green Power is at the forefront of integrating innovative technologies into renewable energy plants.
Standard Bank has successfully led the arrangement of a ZAR 6 billion sustainability-linked term facility and a ZAR 800 million sustainability-linked working capital facility for Motus, the first ZAR-based sustainability-linked funding in the South African automotive sector.
As a leading automotive group, with an unrivalled scale and scope in South Africa, the ZAR 6.8 billion funding package highlights the importance of Motus’ environmental, social and governance (ESG) journey.
“Through our close client engagement, Standard Bank was able to partner with Motus in creating a financing solution that supports the continued growth ambitions of the business while also aligning with its ESG commitments,” says Anneke Lund, Sustainable Finance Executive at Standard Bank Group. “Our role as mandated lead arranger, bookrunner and sustainability coordinator brought market participants together to successfully syndicate its first ZAR-based sustainability-linked funding in South Africa.”
Sustainability-linked loans tie the terms of funding to ESG outcomes to support and incentivise responsible corporate behaviour and the creation of shared value. As Motus achieves its key performance indicators (KPIs), it receives an incentive in the form of a favourable rate benefit and vice versa should it not achieve its KPIs.
This drives Motus’ environmental and social impact through material KPI selection and setting ambitious targets, with a focus on its own road fuel consumption, water consumption, electricity efficiency and gender equality to drive diversity and inclusion.
“ESG performance is both a financial and ethical priority. Companies that operate in a sustainable manner tend to have lower risk profiles and outperform those that don’t over the long-term. For this reason, demand continues to grow for sustainability-linked financing that can offer clients the opportunity to narrow down the focus on its environmental impact strategy and to deliver socio-economic impact,” says Lund.
Standard Bank is focused, primarily through its Sustainable Finance division, on providing financial products and services that support positive ESG outcomes, including green and social bonds, sustainability-linked loans and bonds, sustainable trade and working capital solutions and impact investing.
“Our partnership with Motus affirms our commitment to mobilise between R250 billion and R300 billion in sustainable finance by the end of 2026. We are therefore delighted and proud to partner with Motus in supporting its growth ambitions while also contributing to transformation in our economy,” says Lungisa Fuzile, CEO of Standard Bank South Africa.
“Partnerships remain vital in not only providing access to financing for our expansion plans, but also in leveraging our extensive reach, experience and insight into the African market’s social, economic and regulatory landscape,” says Osman Arbee, CEO of Motus. “As we enter our 75th year of operations, our commitment to ESG practices and principles, will ensure we remain a sustainable and valuable contributor to our customers, employees, supply chain partners and the communities in which we operate.”
Actor and comedian Kevin Hart is an avid health and fitness enthusiast, having been the first comedian to sign a Nike endorsement deal, and has launched his own multivitamin brand VitaHustle. He is also the first male ambassador for Fabletics, and in addition to those accomplishments, he has launched Hart House, a vegan fast food restaurant.
Comedian and actor Kevin Hart enters the vegan scene, Hart partners up with Chef Michael Salem, the brains behind Burger King’s Impossible Whopper, to create a show-stopping menu. Hart House will feature veganized comfort favorites. These will include a Delux Crispy Chick’n sandwich and a Double Burger. A crunchy kale salad is also available for those seeking a whole food-based option! With an impressive lineup of menu must-tries, then, Hart commits to offering one-of-a-kind flavor that will attract vegans, vegetarians, and herbivore-curious foodies.
Hart House prepares to offer flavor-packed vegan options that are tastier and healthier. As a result, all menu items are made with whole and clean ingredients that differentiate from traditional fast-food chains. Prepared without antibiotics, hormones, and artificial colors, these dishes are packed with top-notch quality.
With the opening of Hart House, customers can expect to enjoy delicious, low-cost vegan items ready in minutes. The new vegan joint is also taking sustainable steps in their food production. The spot lowers their environmental impact by using responsibly sourced ingredients and minimizing their energy source.
Hart House’s first LA location will open in Westchester at 8901 S Sepulveda Blvd, Los Angeles, CA 90045. They have plans to open a second location in Hollywood soon after! Visit ww.MyHartHouse.com to stay tuned for the dates of their grand opening.
Tiger Brands will soon begin rolling out solar power at its manufacturing sites. This kicks off a multi-million-rand investment with the goal to have 65% of the business’ electricity requirements at a manufacturing level across South Africa sourced from sustainable energy solutions by 2030. This will be done through the procurement of Power Purchase Agreements from Independent Power Producers, as well as other renewable energy options
Onsite solar power, and other renewable energy solutions, will be installed at 35 Tiger Brands manufacturing sites across South Africa by 2030, beginning with 4 sites, which will generate 2 megawatts of power, providing at least a third of their power usage.
The first 4 sites are Tiger Brands’ Henneman Mill in the Free State, King Foods in the North West, as well as its Beverages and HPC (Home and Personal Care) manufacturing plants in Gauteng.
Solar power generation at these sites is expected to go online between the last quarter of this year and the first quarter of 2023.
“Harnessing the power of natural energy sources is first and foremost about minimising our impact on the environment and doing our part to reduce reliance and strain on the national grid so that more South Africans have access to the resource,” says Derek McKernan, Tiger Brands’ Chief Manufacturing Officer.
Tiger Brands’ goal is to reduce its greenhouse gas emissions by 45% against science-based targets by 2030, with a target of net zero emissions by 2050.
Other than solar power, Tiger Brands is also exploring biogas, wind, batteries and hydrogen amongst others. The company has introduced several initiatives to reduce energy intensity at its manufacturing sites to maximise efficiency efforts. Some of these optimisation initiatives include detailed site investigations to identify water and energy reduction opportunities, as well as ensuring accurate measurement and metering at the sites. This is aligned with the business’ aim to reduce its energy intensity by 30% by 2030.
“This is not a one-size-fits-all solution that we are introducing. We want to ensure that we assess the requirements of each site individually and implement initiatives and innovations that best suit each site while removing all forms of power wastage,” says McKernan.
Meet Dr Lebogang Masekela, an advocate for awareness, change in habits, and self-love, who was interviewed by the Lifestyle and Tech Team. Dr. Lebogang’s lifelong interest in nutrition, fitness, and weight management began at an early age, as a result of developing eating disorders such as binge-eating and Bulimia. As a result, Dr. Lebogang established Dr. Lebogang’s Nutrition & Wellness to save people from the uncertainty and aggravation of not understanding how to eat properly and to keep them away from the difficulties of poor eating habits and methods of losing weight.
The interview transcript is provided below.
LnT. Who is Dr Lebogang?
Dr Lebogang: I am a Health & Wellness coach based in Ecopark, Centurion. I’m a medical doctor, who specializes in nutrition, weight management and holistic medicine.
LnT: What inspired you to focus on nutrition and wellness?
From a very young age, I’ve always been fascinated with everything “diet” and weight-loss related. As someone who struggled with being overweight all my life, I guess it was inevitable for me to go this route after graduating from medical school. I know first-hand how difficult and frustrating it can be to live a healthy lifestyle or to try and lose weight without the proper tools and knowledge. Initially, I took an interest in studying nutrition and integrative medicine to figure out how to manage my own health issues, but then I quickly realized how much lack of knowledge there was as far as nutrition and wellness is involved. That’s how I decided to start educating people, imparting my knowledge and guiding them to longer, healthier lives.
LnT: What services does Dr Lebogang’s Nutrition & Wellness offer?
Dr Lebogang Our approach is holistic, so the focus of patient management is always 3-fold: we educate the mind, we assess & treat the body, while elevating your over-all health.
We have a variety of services and products at our clinic:
LnT: Share a program you have found most effective and beneficial towards one’s health?
Our “Jump-start” Detox Program has had the best results with 99% of my clients, granted that you do it correctly. It’s an intense 2-week detox system made up of 3 Pillars:
HCG injections
Nutrition supplements (pills and drips)
Lifestyle modification or adjustments (diet & exercise)
Dr Lebogang This short-term detoxing phase is recommended for every person who’s starting on a weight-loss journey, or who simply wants to reset their body and optimize bodily functions. It has many positive benefits:
Helps rid the body of toxins and impurities by detoxifying your liver, kidneys, gut and skin.
Jump-starts your fat metabolism so you can start burning fat and losing weight.
Prevents the body from going into “survival mode” (fat storage mode) and resisting to lose weight.
The sudden boost in energy and vitality, plus the drop in weight is a great motivation to continue with your new-found lifestyle moving forward.
LnT: What would you like people to gain from your nutrition and wellness program(s) that have been set in place?
Dr Lebogang: 4 main points:
Our diets (nutrition) play a very huge role in our over-all health. You are literally what you eat, so we ALL need to become conscious eaters and mind what we eat!
“Health & wellness” is a multi-factorial effort. Your mental health and emotional wellness should always be a priority as well, not just your body.
In the same breath, weight-loss and weight-gain are affected by a number of medical, psychological and lifestyle factors. Diet and exercise being the common factors, but there’s many others major factors like stress, hormonal imbalance, allergies, sleep disorders…amongst others.
Obesity robs lives! Being overweight or obese, decreases the quality of your life AND it can shorten the length of your life prematurely. 65% of deaths, globally, are related to obesity and it’s complications. It’s a global pandemic. We need to fight for our lives.
LnT :In regards to the brand, “Dr Lebogang’s Nutrition and Wellness”, who is it curated for?
Dr Lebogang : Our main target is black women, simply because we’re the ones with the highest incidence of overweight and obesity rates (compared to men) and we’re also the ones mostly at risk and affected by obesity’s co-morbidities and complications (e.g.: Diabetes and High blood pressure, fertility and perinatal complications).
LnT: Given the current state of the country (The pandemic, Fuel prices, Unemployment etc), what program/method would Dr Lebogang recommend for one to under-go?
Dr Lebogang: Emotional wellness and mental health are often neglected and this can have very negative effects on us. Most people are highly stressed, anxious and even depressed. It’s important to take care of our bodies AND our minds.
Our eating habits tend to change for the worse when we’re going through emotional turmoil. It’s always a good idea to seek professional help whenever you go through life-changing events that cause you stress, depression and/or anxiety. Working through your emotions will help you avoid “eating or drinking your feelings away” with unhealthy, comfort foods or alcohol, which can make you gain unwanted weight and worsen your health.
Our clinic offers “Stress Management consultations” daily, and also group seminars on “Emotional Wellness seminars” on some Saturdays. The aim of these is to assist people work through and deal with their feelings and emotions as stress can have a detrimental effect on your weight and your health in general.
LnT: Do you have anything exciting coming up, that you would like to share with us?
Dr Lebogang: We have a “weight-loss webinar” coming up on the 3rd of September, just in time for spring and for people to start working on their summer bodies. It’s an hour long, from 12:00 – 13:00 at a cost of R250pp. Call our clinic number for any enquiries and bookings.
LnT: Nutrition and Wellness is always perceived as a luxury, what can you tell anyone who thinks that it is a luxury? How can you help them change that mindset?
Dr Lebogang: Nutrition and wellness are the foundation of health so they’re more of a necessity than a luxury. Self-care is the best way to health and as we all know, health = wealth! You simply cannot afford not to care for your nutrition and wellness. If you don’t make time for wellness, you’ll be forced to make time for illness; and treating an illness can be very expensive. Try paying for a few days of hospital admission without medical aid and your whole perspective will change.
LnT: How can Dr Lebogang be contacted?
Clinic phone no: 078 181 0090
Call/Text/WhatsApp: 078 181 0090 for appointment bookings
Standard Bank Group has partnered with Seriti Resources Holdings (Seriti) to successfully reach financial close on its acquisition of wind-powered renewable energy company, Windlab Africa. Seriti acquired the company through its recently established subsidiary, Seriti Green – a new renewable energy player in South Africa.
Seriti is a major coal supplier in South Africa, contributing 46% of Eskom’s coal production. With its entry into renewables, through the formation of Seriti Green and the acquisition of Windlab Africa, Seriti is diversifying its energy portfolio, lowering its carbon footprint, and supporting South Africa’s just transition to a lower carbon future.
Standard Bank acted as the sole financial advisor to Seriti Green, having introduced the Windlab opportunity. Standard Bank is also proud to be an equity partner to Seriti on the deal and provided funding for Seriti Green management and their strategic partner.
“When Seriti was keen to explore growth through renewable energy, we not only connected them to Windlab Africa, but facilitated the acquisition every step of the way, demonstrating our market leading sector insights and ability to understand and fulfill the needs of our clients to ensure value creation. This was a unique transaction in that we initiated, facilitated and advised on the transaction, while also taking a direct equity position in Seriti Green and funding management and their strategic partner,” says Rentia van Tonder, Head of Power at Standard Bank. “We are delighted to see this important deal reach financial close and are proud of the role we have played.”
Earlier this year, Standard Bank launched its climate policy, wherein it committed to partnering with its clients to support their transitions. The Group also committed to mobilise a cumulative amount of between R250 billion and R300 billion for sustainable finance by the end of 2026. This target includes R50 billion of financing for renewable energy and underwriting of a further R15 billion for renewable energy by the end of 2024.
This transaction demonstrates Standard Bank’s commitment and ability to partner with clients by bringing to bear a full banking solution across multiple products and sector expertise to support Seriti on their energy transition journey towards becoming a diversified energy group.
“Leveraging our sector team’s market leading insights and our integrated African platform allows us to provide an unmatched renewables advisory offering through our ability to understand and fulfill our client’s needs. We believe that delivering advice and capital solutions that demonstrate creative thinking and unrivalled access across the ecosystem is critical to our ongoing success, and we are proud to have advised Seriti on this landmark deal,” says Bryan Antolik, Executive, Advisory at Standard Bank.”
Through this transaction, Seriti Green will become an independent power producer, creating accessible and affordable renewable electricity in South Africa, while also contributing to the country’s energy security and reducing the need for carbon-based energy sources. Seriti Green will acquire a pipeline of projects under development of around 3GW, mainly focusing on captive power solutions but with the ability to also feed into the national grid.
“This acquisition is a significant landmark on Seriti’s journey to becoming a diversified energy business and supports our ESG objectives and commitment to a just energy transition,” said Mike Teke, CEO of Seriti. “We need to be moving towards a lower carbon future through investing capital from coal into green energy. It is not only the right thing to do, but it makes business and societal sense”.
“Standard Bank is honoured to be playing a leading role in shaping and financing the renewable energy sector in South Africa. This transaction and the central role we have played in it from ideation to reaching financial close represents yet another important milestone on our sustainable financing journey on the African continent,” says Justin Bothner, Head Investment Banking South Africa at Standard Bank Group. “Fostering trusted partnerships is fundamental to this journey as we set out to power positive impact together with our clients.”
Seriti Resources has entered into an agreement to acquire a majority stake in Windlab Africa’s wind and solar-powered assets through its subsidiary Seriti Green, as it seeks to lower its carbon footprint and ensure long-term sustainability as a diversified energy producer.
This is a significant step in the development of Seriti Green, which was announced in November 2021. Windlab Africa consists of 100% of Windlab South Africa and 75% of Windlab East Africa.
Mike Teke, Seriti CEO said: “The acquisition is a timely and strategic addition to our existing and valuable portfolio of coal assets. Our commitment to the responsible and reliable production of coal for both domestic consumption and exports remains unwavering.”
As a responsible coal producer, Seriti is conscious of the impact that fossil fuels have on the environment and is committed to playing an active role in helping manage the just transition to a low-carbon economy while balancing South Africa’s energy needs.
There is a growing need for stable power supply around the world, alongside a global shift to decarbonise and reduce reliance on fossil fuels. We are aware of the challenges currently facing Eskom, and as a result the country as a whole. The need for an energy supply that meets current and future needs, along with the obligation to move towards a managed transition to renewable energy sources, means this acquisition is especially timely.
The introduction of renewable energy into Seriti’s existing portfolio of high-quality coal assets will provide long-term financial stability and diversification whilst embracing alternative energy sources and helping to secure the country’s power needs.
“This acquisition is a significant landmark on Seriti’s journey to becoming a diversified energy business and supports our ESG objectives and commitment to a just energy transition,” said Mike Teke, CEO of Seriti.
Seriti uses 750 GWh of electricity in the process of mining the coal that is used to fuel power stations. In line with the commitments made in the MOU signed in October 2021 with Eskom and Exxaro, Seriti will start using renewable wind and solar energy in its own facilities through the signing of PPA’s in 2023.
“We need to be moving towards a lower carbon future through investing capital from coal into green energy. It is not only the right thing to do, but it makes business and societal sense,” said Teke.
Seriti is proud to be partnering with Standard Bank, RMB, Ntiso Investment Holdings and Peter Venn. Seriti is confident in the strength of Windlab Africa’s experienced management team, led by Peter Venn, who will continue to develop and grow the business. The entry of Seriti and its partners into the renewables sector signals a clear shift – a proudly black-owned, South African company making a meaningful contribution to a reduced carbon footprint and just transition.
“Since commencing operation in Africa 14 years ago, Windlab’s aim has been to assist in the electrification of the region through the construction and operation of high-quality wind and solar renewable energy facilities. With African ownership and local capital, the business will now be able to accelerate the development of its significant pipeline to assist in alleviating the electricity shortages on the African continent,” said Windlab CEO John Martin.
“Standard Bank is proud to be an equity partner, funder and sole adviser to Seriti in delivering on its integrated energy strategy through the acquisition of Windlab – a renewable energy company with an established track record. We believe that the complementary skills of the management teams will provide a timely acceleration to deliver a diversified and more reliable energy supply for South Africa,” said Mark Buncombe, Head Mining and Metals.
Head of Infrastructure Equity Finance and Investments at RMB, Kwabena Malgas, commented: “An exciting opportunity to partner with Seriti, a key client and long-term partner of RMB. Seriti has always been at the forefront of solutioning for South Africa’s energy crisis. The acquisition of the Windlab Africa platform is complementary to their business and will ensure that they continue to reduce the country’s energy deficit through various renewable sources”
Transaction details
The transaction, with a total purchase price of R892 million (USD 55 million), will see Seriti acquire a 51% controlling interest in Windlab Africa – with RMB (14.5%), Standard Bank (14.5%) and two individual partners, Mr Peter Venn (15%) and Ntiso Investment Holdings (5%) collectively taking up the remaining stake.
Windlab, as acquired by Seriti, is currently overseeing 3.5 GWs of renewable energy projects at different stages of development in South Africa and east Africa and will continue to be managed by current Managing Director Peter Venn and the Windlab Africa team.
This acquisition gives Seriti access to a portfolio of existing world-class renewable assets with a high return rate, a promising project pipeline and a highly experienced management team.
In a first for retail in South Africa, the Shoprite Group has acquired over 100 of the most fuel-efficient trucks in Southern Africa. The Scania Euro V trucks have a proven fuel saving of around 10% along with lower CO2 and NOx emissions.
The Group’s world-class supply chain – which includes 29 distribution centres covering 673 843m2 – provides it with a competitive advantage in the retail industry to consistently deliver on its business promise of everyday low prices.
Key to its supply chain is a highly sophisticated transport route planning and scheduling system which optimises energy efficiency and deliveries to the Group’s stores.
During the 2020/2021 financial year, the Shoprite Group’s fleet travelled close to 90 million km and delivered more than 350 million cases of products to its stores.
“Operational and supply chain efficiency play a critical role in ensuring that the Group remains Africa’s most affordable and accessible retailer while reducing our environmental impact. We are relentless in our efforts to improve efficiencies in our supply chain as these measures are key to extending our customers’ spending abilities.”
– Andrew Havinga, Chief Supply Chain Officer for the Group
These efforts include changing to more fuel-efficient trucks and installing solar PV on trailers, as these trucks can be switched off while the refrigeration and tailgate lift continue to run on solar power.
“By further increasing the energy efficiency of our trucks and training our drivers on how to reduce fuel consumption, we are able to lower the comparative impact of the distance our fleet travels every year,” Havinga continues.
The Shoprite Group’s fleet currently includes 903 trucks and 1 360 trailers, of which 928 are fitted with solar panels, and it will be growing its fleet of fuel-efficient Euro V trucks annually with an additional 140 units planned by the end of 2023.
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