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Black Business Council says Eskom CEO musical chairs doesn’t inspire confidence

9th October 2017 The Black Business Council (BBC) said on Monday that it was concerned by the sudden change of leadership at State-owned power utility Eskom, saying that government must give the enterprise some space and not meddle in its affairs. This comes after Eskom last week appointed its chief information... 

Sasol changes funding option to settle old BEE scheme debt

9th October 2017 Sasol on Monday announced that it would explore different funding options to settle the financing obligations of its failed broad-based black economic empowerment (BBBEE) ownership structure. Sasol said it will no longer pursue the preferred funding option of issuing up to 43-million ordinary... 

Makhura concerned at delays in Grayston Bridge collapse inquiry

9th October 2017 Gauteng Premier David Makhura on Sunday expressed concern at delays in the inquiry into the collapse of the Grayston Bridge in Johannesburg two years ago. The bridge on the M1 highway and the Grayston interchange collapsed on October 14, killing two people and injuring 19. An inquiry into the... 

Sarb denies instructing banks on KPGM

6th October 2017 The South African Reserve Bank (Sarb) has denied that it told the country’s big four banks that they cannot fire KPMG, stating categorically on Friday that it had not instructed banks on what steps they should or should not take with regards to their contracts with the embattled auditing firm.... 

SA business ‘complicit’ in looting of State – Jay Naidoo

5th October 2017 Activist for social justice, Jay Naidoo, on Thursday urged the South African business community to find its moral compass and not be complicit in the looting of the State by greedy individuals. Naidoo, who was founding general secretary of the Congress of South African Trade Unions (Cosatu) and a... 

AB InBev completes $3.15bn Coca-Cola Beverages Africa transition

5th October 2017 The world’s largest brewer, Anheuser-Busch InBev (AB InBev) on Thursday announced that it has completed the transition of its 54.5% equity stake in Coca-Cola Beverages Africa (CCBA) for $3.15-billion after customary adjustments. This comes after AB InBev last year acquired SABMiller for... 

Sale of South Africa’s strategic fuel stocks heads to court

5th October 2017 The question of whether South Africa can access strategic fuel stocks sold way below market price in a controversial deal made in late 2015 will be answered by a court of law, Strategic Fuel Fund (SFF) acting chief executive Thabani Zulu said on Wednesday. Speaking to journalists on the sidelines... 

Transnet upgrades fuel pipeline from Durban to Johannesburg

5th October 2017 Transnet’s has commissioned its upgraded 55 km multiproduct pipeline, which will enable it to move four petroleum products from Durban to Johannesburg. When the 24-inch trunk-line was first commissioned in 2012 it transported only diesel. 

Brown has received report from Eskom on Trillian

4th October 2017 Public Enterprises Minister Lynne Brown on Wednesday told MPs she had received a report from Eskom about its dealings with Trillian and McKinsey which she demanded after it emerged that the power utility had lied to Parliament, but made plain that she will not act against the leadership of... 

SA Competition Commission drops cancer drugs investigation against Aspen

4th October 2017 The Competition Commission on Wednesday dropped its investigation into allegations that pharmaceutical companies, Aspen Pharmacare Holdings and Equity Pharma, were involved in excessive pricing. The Commission had in June initiated three investigations against both companies for suspected abuse... 

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