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Zuma says high unemployment is part of apartheid legacy

17th May 2016 South African President Jacob Zuma on Tuesday told Parliament that rampant unemployment had its roots in apartheid because the white regime denied black people education. In response to a question from Democratic Alliance (DA) finance spokesperson David Maynier, Zuma replied that joblessness was... 

Gupta’s Oakbay Resources gets new CEO

17th May 2016 Oakbay Resources on Tuesday announced a new CEO following the abrupt resignation of Varun Gupta from the position last month. “Oakbay Resources is pleased to announce that, following a Nominations Committee process, the Board has appointed Mr Jacques Roux as the CEO of the Company with immediate... 

Motor industry driving Tshwane economy – Mayor

17th May 2016 Tshwane Mayor Kgosientso Ramokgopa on Tuesday paid tribute to the automotive sector for driving the capital city’s economy during the current challenging global economic conditions. “I assume all of us have seen in the recent months investments made in the automotive sector of the our economy... 

Presidency slams Gordhan arrest rumours

16th May 2016 The Presidency on Sunday slammed media reports on the “imminent arrest” of Finance Minister Pravin Gordhan. “The presidency has noted the story in the Sunday Times alleging an imminent arrest of the minister of finance,” President Jacob Zuma’s spokesperson Bongani Ngqulunga said in a statement. 

City’s upgrade good for the economy, says Gauteng premier Makhura

13th May 2016 Gauteng Premier David Makhura on Friday welcomed ratings agency Moody’s Investors Service’ upgrade of the City of Johannesburg by four notches, saying the move was good for South Africa. “The fact that this rating comes in the midst of a difficult and volatile global and domestic economic outlook... 

Lily Mine: Workers encouraged to apply for voluntary severance packages

13th May 2016 Workers at the doomed Lily gold mine in Barberton, Mpumalanga, have been informed that they may begin to apply for voluntary severance packages as the mine had no money to pay their salaries yet, trade union Solidarity said on Thursday. According to Solidarity, a business rescue practitioner... 

Aurora directors lose appeal at Supreme Court of Appeal

12th May 2016 Attempts by five directors of mining company Aurora Empowerment systems to appeal a decision denying them leave to appeal a high court judgement that they be held personally liable for damages of R1.5-billion, was dismissed in the Supreme Court of Appeal (SCA) in Bloemfontein, union Solidarity... 

Afrox signs deal to increase LPG imports

12th May 2016 South Africa’s African Oxygen Limited (Afrox) on Thursday said that it had signed “an import agreement” with Petredec Limited and Bidvest Tank Terminals to ensure security of supply of liquefied petroleum gas (LPG) for its customers in South Africa. Petredec Limited is one of the largest global... 

Ekurhuleni municipality to enhance green laws

12th May 2016 Soon companies will have to adhere to stricter environmental laws as municipalities begin to look at ways in which they can become greener and contribute to making the air cleaner. The development came to light at a seminar in Germiston on Wednesday, where delegates discussed the importance of... 

Special Africa Hub will help deliver multibillion-dollar infrastructure projects

11th May 2016 The formation of a special hub to drive multi-billion dollar infrastructure investment was announced at the World Economic Forum (WEF) on Africa meeting in Kigali, Rwanda, on Wednesday. The Sustainable Development Investment Partnership (SDIP) announced the creation of a dedicated Africa hub... 

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