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Latest News

SA steel group in successful rights issue

     16th April 2002 Steel firm Iscor announced the successful conclusion of its rights offer in which the company raised R1,67-billion in additional capital. 

Energy groups eye SA electricity slice

     15th April 2002 US energy groups Cinergy Corporation and AES Corporation are among global power companies who have set up offices in South Africa in anticipation of the government’s opening up of the local market, which is at present dominated by State-owned Eskom. 

Gauteng agency aims to facilitate investments worth R1,5bn/yr

     15th April 2002 The MEC for Finance and Economic Affairs and chairperson of the Gauteng Economic Development Agency (GEDA), Jabu Moleketi, announced that GEDA has set itself the goal of facilitating new investment of R1,5-billion a year into Gauteng from this year onwards. 

High-flying entrepeneur still investing hundreds of millions in South Africa

     15th April 2002 A company which today supplies one in every five vehicle exhausts sold in the world had humble beginnings right here in South Africa – and this year it will plough another R330-million into its South African operations. 

Manuel slams low US overseas aid

     15th April 2002 South African Finance Minister Trevor Manuel, calling for more spending on the vaccination of children against common diseases, criticised the low level of official US development aid. 

SA, Nigerian IT firms pool resources

     15th April 2002 Leading IT firm, arivia.kom has signed a collaboration agreement with a consortium of Nigerian companies, which will see arivia.kom and Nigerian companies pooling their resources to form a consortium to leverage opportunities in Nigeria. 

Aids to hit SA brewer

     12th April 2002 South African Breweries (SAB) must expand because its domestic market is literally dying. 

Black business struggle in 2001 – report

     12th April 2002 Tough market conditions in South Africa significantly reduced the performance of black economic empowerment firms in 2001 and inhibited new entrants, an economic thinktank said. 

R200m for E.Cape power projects

     12th April 2002 Power utility Eskom will invest a total of R200-million on growing and improving the Eastern Cape’s electricity supply during this year alone. 

SA firm to sell stake in pigment producer

     12th April 2002 South African chemicals, fibres and explosives group AECI and Huntsman Tioxide of the UK have reached agreement, in principle, for Huntsman to acquire AECI’s 40% minority shareholding in Huntsman Tioxide Southern Africa (HTSA). 

SA's land distribution will be legal

     12th April 2002 The South African Government remains committed to correcting the distortions in land ownership through a clear and legal framework, which does not disrupt business, said MEC for agriculture, conservation and environment Mashego Dlamini at the sugar season ceremony in Kwazulu-Natal yesterday. 

Staff realignment last hurdle in State oil merger

     12th April 2002 The State’s new national petrochemical company, PetroSA, has issued documentation to the effect that the merger between the former Soekor and Mossgas is complete and official, but a company spokesperson for the company says there are still some outstanding issues. 

Construction of New Marion Island research base

     11th April 2002 The construction of a new research base on Marion Island by the Directorate: Antarctica and Islands of the Department of Environmental Affairs and Tourism is on the cards. 

Kenya earns $70m on back of US trade deal

     11th April 2002 Kenya earned $70-million last year from textile exports to the US market following the enactment of the African Growth and Opportunity Act (Agoa). 

Rail tariff hikes set to continue

     11th April 2002 South Africa’s State-owned rail utility, Spoornet, will continue to raise the tariffs it charges for its loss-making General Freight Business (GFB) for the next three years. 

Ten bid for Gauteng speed train

     11th April 2002 Ten companies have presented bids following a request for prequalification (RFQ) submissions for the Gauteng Rapid Rail Project. 

World Bank calls on rich to help Africa

     11th April 2002 Africa urgently needs rich nations to deliver on their promises of more generous aid and wider trade opportunities to reverse the cruel effects of the HIV/Aids pandemic, civil wars, and persistent low growth rates, the World Bank said. 

Business liquidations continue to soar

     10th April 2002 The recent sharp increase in the number of company and closed corporation liquidations continued in February, with experts fearing the worst is still to come. 

End of border row opens way for oil field

     10th April 2002 US major ExxonMobil will operate a TotalFinaElf discovered oilfield in disputed waters in Nigeria after the West African nation and Equatorial Guinea settled a maritime border row. 

SA helps boost EU aircraft maker

     10th April 2002 European aircraft maker Airbus SAS said that this year it expects to share about 400 to 500 commercial jet orders with rival Boeing as airlines rebound from the September 11 attacks. 

Transport utility further dilutes control in phone operator

     10th April 2002 South Africa’s Johnnic Holdings said it had concluded a voting pool arrangement with transport utility Transnet over the two groups’ interests in mobile phone operator M-Cell. 

Web-base emerging market investment tool

     10th April 2002 The Multilateral Investment Guarantee Agency (MIGA) lifted its investment marketing services up a notch with the launch of FDI Xchange, a unique tool that links investors with real-time information on investment opportunities and market analysis in emerging economies. 

12 more Hawks definitely on the way

By: Terence Creamer     9th April 2002 Cabinet has confirmed its commitment to proceed with the second procurement tranche in its multibillion-rand arms re-equipping programme, Trade and Industry Minister Alec Erwin revealed yesterday. 

Good governance key to African investment – Chretien

     9th April 2002 Canadian Prime Minister Jean Chretien said Nigeria’s difficult decision to support sanctions against Zimbabwe demonstrated how African leaders can promote good governance as a trade off for massive Western investment. 

Govt in 'state-of-construction' probe following collapes

     9th April 2002 The Department of Public Works has commissioned a study into the state of the construction and building industry in light of a spate of building collapses, the latest being in Pretoria on Sunday. 

New body for built-environment profession launched

     9th April 2002 A new body, the Council for the Built Environment (CBE), was launched in Pretoria yesterday, and has been created to enable the future growth and development of the built environment professions to meet the country’s infrastructure delivery challenges. 

SA battles it out for Coega aluminium project

     9th April 2002 South Africa, Australia, and now Qatar are laying elaborate incentives on the table in a bid to secure a multimillion-dollar investment by French company Pechiney in the form of a 460 000 t/y primary aluminium smelter. 

Zambia dissolves oil purchaser

     9th April 2002 The Zambian government has wound up and dissolved debt-ridden state oil purchaser Zambia National Oil Company (ZNOC) with immediate effect, Finance Minister Emmanuel Kasonde said. 

French group wins big DRC mobile-phone contract

     8th April 2002 French telecoms equipment maker Alcatel has won a five-year contract worth more than 145-million euros to build a GSM mobile phone network for Vodacom in the Democratic Republic of Congo. 

SA test solar generation option

     8th April 2002 Energy utility Eskom and the Development Bank of Southern Africa (DBSA) have announced the proposed launch of a solar dish-engine system, which will be erected at the premises of DBSA. 

Southern Africa is becoming an aluminium-smelter destination

     8th April 2002 Deep-sea ports and reliable competitively-priced electricity could give Southern Africa an edge over many regions as the location of some of the potential aluminium smelters resources giant BHP Billiton is considering. 

West African states solve dispute on oil-rich border

     8th April 2002 Nigeria and Equatorial Guinea said they had resolved a maritime border dispute, paving the way for oil multinationals TotalFinaElf and ExxonMobil to operate normally in one of the world’s most promising exploration zones. 

Crop forecasting goes hi-tech

     5th April 2002 South Africa will use satellite imaging, state-of-the-art computer programmes and personal visits to farms to improve the accuracy of summer crop estimates, agriculture officials said. 

Drilling for crude in Chad

     5th April 2002 An international consortium led by ExxonMobil has begun drilling for crude oil in Chad, meaning billions of dollars of oil money could soon be pouring into one of the poorest countries in the world. 

Enviro study for 110 km hydrogen pipeline launched

     5th April 2002 An environmental impact assesment (EIA) for a proposed 110 km pipeline to supply hydrogen gas from Sasol Chemical Industries (SCI) in Sasolburg to the Impala Platinum Refineries in Springs is currently under way. 

Mali gears up for ICT summit

     5th April 2002 A regional preparatory conference for the World Summit on the Information Society, to be held in Bamako, Mali from May 28 to May 30, was the focus of talks between the secretary-general of the International Telecommunication Union (ITU), Yoshio Utsumi, and the President of Mali, Alpha Oumar Konar 

Steel firm welcomes competition decision

     5th April 2002 Steel firm Iscor welcomed the reasons given by the South African Competition Tribunal that allows the merger between Saldanha Steel and Iscor to proceed. 

Export insurer withdraws Madagascar cover

     4th April 2002 South Africa’s largest export credit insurer, Credit Guarantee, has withdrawn cover on new export contracts to Madagascar with immediate effect. 

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