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Montana claims he fought off a bid to change the PRASA board

31st January 2018 Former Passenger Rail Agency of South Africa (PRASA) CEO Lucky Montana on Tuesday told the parliamentary inquiry into Eskom that he resisted a political attempt to impose a new board at the entity that would be favourable to the Gupta brothers and help them secure contracts in a locomotive tender... 

Gauteng launches probe into housing backlog

31st January 2018 The Gauteng Provincial Legislature’s (GPL) Portfolio Committee on Cooperative Governance and Human Settlements will on Thursday launch an inquiry into the housing backlog in the province. In a statement on Wednesday, the GPL said the 1st inquiry hearing will be on Tuesday, February 6, 2018, in... 

Brown says boards of State-owned enterprises must shape up

30th January 2018 Embattled Public Enterprises Minister Lynne Brown on Tuesday told MPs she expected the boards of South Africa's corruption-stricken, cash-strapped parastatals to perform or be replaced. "The message to the boards of all SOCs is that they must shape up or ship out. If they are unable to instill... 

Capitec shares fall sharply after research group says loan book overstated

30th January 2018 Shares in Capitec Bank tumbled as much as 20 percent on Tuesday after US researcher Viceroy said it had done extensive due diligence and compiled evidence suggesting the company must take significant impairments to its loans which would likely result in a net-liability position. The lender said... 

Northam completes R175m acquisition of mothballed Eland mine

30th January 2018 South African platinum producer Northam Platinum said on Tuesday it had finalised its purchase of the mothballed Eland platinum mine from Glencore. Northam announced in February 2017 that it would acquire full ownership of the Eland mine and ancillary infrastructure near Brits in the North West... 

SANDF warns of reserve members strike in Pretoria

30th January 2018 The South African National Defence Force (SANDF) says it has been "reliably informed" of an impending protest march in Pretoria on Tuesday by some members of its Reserve Force (RF) component. "The information at hand suggests that the protest march is aimed at addressing RF service conditions as... 

Team South Africa syncing its act to host tenth Brics summit

29th January 2018 Different South African sectors are synchronising their act on Monday, as Pretoria prepares to host the highly anticipated 10th summit of the Brics bloc – which groups Brazil, Russia, India, China, and South Africa – to be held in July. “One of the things we did last year is that we found that... 

High-tech vessel leaves Durban for African coastal research

26th January 2018 A Norwegian research vessel deemed the most technologically advanced in the world set out from Durban on Friday to assist coastal African countries with data collection to promote sustainable marine and fishing environments. The Dr. Fridtjof Nansen, a state-of-the-art vessel equipped with three... 

Deputy minister to appear before Eskom inquiry next week

26th January 2018 Deputy Public Enterprises Minister Ben Martins will appear before the parliamentary inquiry into South Africa's power utility Eskom when it resumes next week. "Next week the inquiry will continue, the committee will receive evidence from ... Mr Ben Martins and former Prasa (Passenger Rail Agency... 

Water crisis hits Cape Town tourism, cancellations from international visitors - industry body

26th January 2018 The drought-induced water crisis in the Western Cape province, which could run out of supply in April if there are no rains, has hit the key tourism sector with visitors cancelling trips, an industry official said on Friday. Officials in Cape Town, South Africa's tourism capital which boasts... 

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