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African News Agency

Afreximbank signs $1bn programme to promote South Africa-Africa trade

26th June 2018 The African Export-Import Bank (Afreximbank) and the Export Credit Insurance Corporation of South Africa (ECIC) on Monday, signed a memorandum of understanding for a $1-billion financing programme to promote and expand trade and investments between South Africa and the rest of Africa. Under the... 

Ramaphosa is 'very pro business' says Presidential investment envoy

26th June 2018 President Cyril Ramaphosa is “very pro business, very pro capital” and recognises the importance of this in attracting local and international investment, according to businesswoman Phumzile Langeni. Langeni, who is the executive chairperson of Afropulse, is part of the Presidential Special Envoy... 

Starting Eskom wage talks at 0% may have been 'tactically wrong' - Jabu Mabuza

25th June 2018 Eskom Chairperson Jabu Mabuza on Monday said it may have been “tactically wrong” to start wage negotiations with unions representing employees at the power utility at zero per cent. “When you deal with the issues of wages, I think we could have handled this issue better as Eskom. It was perhaps... 

Local business must lead on investment, says Jabu Mabuza

25th June 2018 Jabu Mabuza, the chair of Eskom and Business Leadership South Africa (BLSA), said on Monday that local businesses needed to affirm their confidence in the country’s economy for international investment to take hold. “Foreign direct investment will only come about at the back of local investment,”... 

IRR says Mining Charter still flawed

22nd June 2018 South Africa's latest Mining Charter is better than the previous document but is still "profoundly flawed" and a continuing choke on investment, the Institute of Race Relations (IRR) said on Friday. The government last week gazetted the draft charter after abandoning implementation of one last... 

First Quantum says competitiveness key to Zambia copper production

22nd June 2018 Global metals and mining company First Quantum has urged Zambia to ensure competitiveness and stability in the sector in order to attract foreign direct investment and regain its slot as Africa's largest copper producer. Essential to this is a competitive electricity tariff structure that... 

Durban High Court lifts Shongweni landfill interdict

22nd June 2018 An interdict brought by a Durban community preventing national waste management firm EnviroServ from operating its Shongweni-based hazardous landfill site was lifted by the Durban High Court on Thursday. Judge Johan Ploos van Amstel lifted the restrictive interdict claiming it had served its... 

Lungu refuses to fire Minister following Zambian mining tragedy

21st June 2018 Zambian President and leader of the ruling Patriotic Front (PF) party Edgar Lungu, has turned a deaf ear to calls for the Minister of Mines Richard Musukwa to be fired following Wednesday’s mining tragedy when at least ten miners were buried alive after the collapse of a mine dump in Zambia's... 

Eskom wage negotiations enter final day

21st June 2018 Wage negotiations between Eskom and trade unions will on Thursday enter the final day after workers rejected the 4.7% wage offer from the embattled power utility. Trade unions on Wednesday said they presented a consolidated wage proposal to Eskom as talks resumed for a second day this week after... 

Mondi says completes acquisition of Egypt's NPP in Egypt

21st June 2018 Paper and packing company Mondi said late on Wednesday it had completed the acquisition of Egypt's National Company for Paper Products (NPP) for the equivalent of €24-million on a debt and cash free basis. NPP, which operates an industrial bags plant in Giza near Cairo, will be integrated into... 

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