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Latest News

Funding for UN summit almost secure

By: Irma Venter     11th June 2002 The Johannesburg World Summit Company (Jowsco) has succeeded in securing nearly all of the funding needed to host the World Summit on Sustainable Development (WSSD) from August 26 to September 4 in Sandton, Gauteng. 

Saldanha furnace reline nearing completion

11th June 2002 Steel producer Iscor has confirmed that its Saldanha Steel mill on South Africa’s west coast will resume production soon following an extended shutdown period for maintenance. 

Report into 'free' electricity proposal

11th June 2002 Plans are under way for the executive director of Eskom, Jacob Maroga, to present a copy of a far reaching report to the Minister of Minerals and Energy, Phumzile Mlambo-Ngcuka. 

Italy backs developmental trade agenda

11th June 2002 The Italian government today confirmed a donation of a million euro for the year 2002 to the WTO Doha Development Agenda Global Trust Fund. 

Alternative routes for Gauteng speed train probed

11th June 2002 Various alternative route alignments for the proposed new rapid rail link project, known as Gautrain, are being considered by the Gautrain Provincial Government. 

SA cell No.1 wins Mozambique licence

11th June 2002 South African mobile phone operator Vodacom stepped up its African expansion drive by winning a $15-million licence to set up Mozambique’s second cellphone network. 

Competition body approves packaging takeover

11th June 2002 South Africa's Competition Commission gave conditional approval for packaging giant Nampak's takeover of smaller rival Malbak. 

Ten SA manufacturers show the way in the export market

By: Deborah Spicer     10th June 2002 South Africa's exports grew from R210-billion in 2000 to R251-billion last year in what should not be regarded as an exceptional year for exports, but as part of a sustained pattern of export growth. 

Emerging oil force prospects off SA

10th June 2002 Resources giant BHP Billiton has acquired a 90% stake in a prospecting sub-lease for oil in in South Africa’s offshore Orange Basin. 

Chinese to build Uganda solar plant

10th June 2002 A Chinese solar company, Shenzhen Topway Solar, is planning the commissioning of a $500 000 solar assembly plant in Uganda. 

Improved speed for Niger cyber-surfers

10th June 2002 Cyber surfers in the landlocked West African state of Niger should soon feel the benefit of privatisation when their sluggish Internet connections speed up. 

Zambia's plan to diversify economy

10th June 2002 An ambitious programme to diversify Zambia’s copper-reliant economy will only succeed if the government maintains a stable macroeconomic environment, the International Monetary Fund (IMF) said. 

Nigeria makes oil cash call

10th June 2002 Nigeria has made its first cash call payment to its oil joint venture partners since a Supreme Court ruling in March effectively froze such funding. 

Power firm believes Aids infections are declining

10th June 2002 One of South Africa’s biggest employers believes the rate of Aids infection among staff is now on the decline thanks to a comprehensive programme which costs it around R180-million yearly. 

SA to spend billions on adult education

10th June 2002 Government is set to spend at least R1,2-billion in the next two years to increase its resources for literacy and adult education. 

Backing for Addo Elephant Park project

7th June 2002 The council of the Global Environment Facility (GEF) will contribute $5,84-million to a project that will expand the Greater Addo Elephant National Park, making it the third-largest national park in South Africa. 

Zambia plans to diverisfy economy away from copper

7th June 2002 Zambia drew up a four-point plan to diversify its copper-reliant economy and Finance Minister Emmanuel Kasonde said he would present it to Western donors next month for financing. 

Ghana firm signs West African gas deal

7th June 2002 Ghana’s energy minister said the State power company signed the first big supply contract for the West African Gas Pipeline in an important boost for the $500-million project led by ChevronTexaco. 

US calls for farm export subsidies to be cut

7th June 2002 The US will push in global trade talks for complete elimination of farm export subsidies over five years, Washington’s top agricultural trade negotiator said. 

Africa to recoup undersea telecoms cable cost in two years

7th June 2002 African countries will recoup in two years the $630-million cost of a new undersea fibre optic cable linking the continent to Europe and Asias, the head of South African utility Telkom said. 

$26m electrical-equipment contract for SA smelter

7th June 2002 Power and automation technology group ABB has won a $26-million order to supply electrical and control equipment for the Hillside aluminium smelter, which is being expanded by the BHP Billiton mining group. 

Business signs up for Africa recovery plan

7th June 2002 Business leaders signed up for an ambitious African recovery plan, pledging to stamp out corruption, improve corporate governance and invest for development as well as profit. 

Strategic defence research alliance struck

6th June 2002 A CSIR/Armscor strategic alliance has been established in order to create a world-class technology provider that will maximise the benefit of defence and related technology for the people of South Africa. 

Africa must receive special attention – World Bank

6th June 2002 World Bank President James Wolfensohn called on the leaders of the Group of Eight industrialised nations to pledge that more than half of the new aid promised at Monterrey will go to Africa, as the continent struggles to overcome immense challenges like the HIV/Aids pandemic and the lack of basic... 

WTO panel to examine US steel measures

6th June 2002 A bitter row over US steel tariffs intensified when the World Trade Organisation (WTO) gave the green light to the European Union for experts to examine the legality of the measures. 

Job-seekers registration at Coega

6th June 2002 An ambitious job-seekers’ registration campaign that will see some 600 000 free registration forms being distributed throughout the Nelson Mandela Metropolitan area has been launched by the Coega Development Corporation (CDC). 

SA's first wind farm to get going in Sept

6th June 2002 The first phase of South Africa’s only wind farm will be operational by September. Situated on the Windhoek Farm in Darling, in the Western Cape, the 10 MW demonstration wind farm will commission its first 5 MW phase after a feasibility study was completed last month. 

US, Japanese firms to revamp Nigeria steel plant

5th June 2002 Nigeria has signed separate joint venture deals with a Japanese and US firm to complete its Ajaokuta Steel, still unfinished after swallowing $4,5-billion, a senior government official said. 

R100m tyre investment for PE, Brits

5th June 2002 Tyre maker Bridgestone Firestone has announced that it will invest R100-million in its plants in Port Elizabeth and Brits. 

Gauteng prioritises growth in 2002 Budget

5th June 2002 Gauteng finance and economic affairs MEC Jabu Moleketi tabled his department’s R967-million budget for the 2002/03 financial year, stressing that growing the province’s economy was a priority. 

Tripartite telecoms acceleration deal

5th June 2002 The South African government, business and labour agreed to team up to speed up development of the telecoms and technology sector, which has shed thousands of jobs in the past few years. 

Tanzania rethinks sale of telecoms firm

4th June 2002 Tanzania said it was considering whether to continue with the privatisation of its state telecoms firm after what it called the failure of foreign investors to finish paying for their 35% stake. 

US energy secretary to attend Africa summit

4th June 2002 US Energy Secretary Spencer Abraham will hold talks next week with African energy ministers during a summit to promote business opportunities and energy technology between the US and the continent. 

Black empowerment key in engineering privatisation

4th June 2002 Companies interested in bidding for controlling interest in Roshcon, a State-owned diversified engineering business, should have a strong black empowerment component to their consortium. 

Risk services group's earning rise

4th June 2002 Financial and risk services group Alexander Forbes has maintained its growth path with headline earnings per share up 49% on the previous year. 

Briefing on SA's energy restructuring

4th June 2002 The Department of Public Enterprises and the Department of Minerals and Energy is holding a briefing session on Wednesday in Pretoria to explain the details of the restructuring of the electrical supply industry (ESI). 

$2,4bn sought for Guinea aluminium factory

4th June 2002 Russian Aluminium is considering building an aluminium factory in Guinea once a planned bauxite mine and alumina plant are up and running, company officials in the West African country said. 

Zambian president backs diversification plans

4th June 2002 Zambia's President Levy Mwanawasa said yesterday that he backed quick action to diversify its copper-based economy in the wake of a decision by Anglo American to pull out of its troubled Zambian venture. "Our heavy dependence on copper has rendered our economy vulnerable. 

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