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Latest News

Final assembly begins on new helicopter

20th February 2003 It was announced this week that AgustaWestland, a Finmeccanica and GKN company, has started the final assembly of the first Agusta A109 Light Utility Helicopter (LUH) airframe for the South African Air Force, at the Denel Aviation facilities. 

State's e-government gateway prioritised in 2003

20th February 2003 South Africans this year stand to benefit from a government initiative that will see the public get 24-hour access to government services. 

Opec to prevent oil shortage in case of war – Attiyah

20th February 2003 The Organisation of Petroleum Exporting Countries (Opec) will act quickly to avoid oil market shortages in case of a war in Iraq, Opec president Abdullah al-Attiyah said in a television interview broadcast on Tuesday. 

Moz-SA gasline nears halfway mark

20th February 2003 Construction of the $1,2-billion Sasol Natural Gas Project (SNGP) is on schedule and the 865km-long pipeline between Secunda in South Africa and Vilanculos in Mozambique is set to cross the national border between the two countries early in March, Sasol said yesterday. 

R1,16bn butanol plant commissioned

20th February 2003 Sasol has successfully commissioned its new R1,16-billion butanol plant at the Midland site in Sasolburg and first material has been supplied to the South African market, the group said yesterday. 

Mvela acquires 51% of consulting engineering group

20th February 2003 In a major empowerment initiative within the built environment sector, Mvelaphanda Strategic Investments has acquired a majority 51% equity interest in multi-disciplinary consulting, design and management firm, Arcus Gibb. 

Kasrils outlines big Olifants River plans

20th February 2003 Water Affairs and Forestry Minister, Ronnie Kasrils, yesterday eloborated on plans for the development of the Olifants River system in the Limpopo Province in a bid support economic initiatives, particularly platinum mining. 

Nigeria seeks immediate end to oil strike

20th February 2003 The Nigerian government called leaders of striking oil workers to urgent talks yesterday, but insisted they first call off the action before any negotiations. 

Contractor responsible for ensuring corvette standards met

20th February 2003 The primary contractor in South Africa's acquisition of four new corvette warships for the navy will be held responsible for ensuring the vessels are up to standard, Defence Minister Mosiuoa Lekota said on Thursday. 

Minister outlines housing renewal strategy

20th February 2003 Housing minister Sankie-Mthembi-Mahanyele says the redevelopment of hostels and the relocation and resettlement of households from unsafe and badly situated locations constitute a significant part of government’s renewal strategy. 

Taxi recapitalisation programme advances

20th February 2003 Government has short listed six bidders for the production of new 18 and 35 seater vehicles, set to replace the country’s current fleet of minibus taxis. 

Nigerian government meets oil strike leaders

20th February 2003 Nigeria's Department of Petroleum Resources (DPR) began talks yesterday with union leaders on ending a strike by its senior staff who monitor oil loadings, officials said. 

Still no news on coal-terminal expansion

By: Martin Czernowalow     19th February 2003 The Richards Bay Coal Terminal (RBCT) expansion seems to have hit a snag once again, as it appears that negotiations between shareholders are no closer to reaching a conclusion. 

SA remains top performing tourist destination

19th February 2003 The South African Minister of Environmental Affairs and Tourism, Mohammed Valli Moosa, revealed that South Africa remained the best performing tourist destination in the world, with the latest statistics showing that foreign tourist arrivals to South Africa increased by 10,1% for the first 10... 

R500m for smart electricity use programme

By: marisa rodrigues     19th February 2003 The efficient use of electricity could prevent the need to build another power station in South Africa, which is likely to become necessary by 2007 (according to current growth estimates) in order to meet peak demand. 

Technology assisting in fight against crime

19th February 2003 Technological advances in the past year have resulted in significant achievements in the fight against crime in South Africa. 

MTN terminates talks on non-SA assets

19th February 2003 South African mobile phone group MTN said yesterday it had ended talks on a possible deal involving its assets outside its home base. 

UCT develops course on empowerment

19th February 2003 The University of Cape Town Graduate School of Business (GSB) has developed an executive short course on Black Economic Empowerment (BEE) which will start in June this year. 

Science, technology key tools in Nepad’s success

18th February 2003 The South African Minister of Arts, Culture, Science and Technology, Dr Ben Ngubane, said yesterday that science and technology are tools for development and their optimal utilisation by the developing world is predicated on strong partnerships. 

Chemserve reports tenth-year of earnings growth

By: Martin Czernowalow     18th February 2003 Speciality chemicals firm, Chemical Services (Chemserve) announced yesterday that it achieved a 30% increase in headline earnings per share in 2002. 

Spoornet wins Zambia rail concession

18th February 2003 Zambia handed the rights to run its loss-making national railway business for 20 years to a consortium of foreign investors last week, in exchange for an annual payment of $253-million and 5% of turnover. 

Nigeria oil exports continue at start of strike

18th February 2003 A strike by senior Nigerian oil workers came into force yesterday and quickly won the support of blue-collar workers, but showed no immediate effect on export loadings, oil industry officials said. 

Construction group's earnings rise

18th February 2003 South Africa's Concor on Monday reported a sharp rise in 2003 first half earnings, buoyed by a strong orderbook, and said it expected the trend to continue for the rest of the financial year. 

Mdladlana challenges business on learnerships

18th February 2003 Labour Minister Membathisi Mdladlana has challenged the business community to massively increase the number of learnerships offered in their places of work. 

SA business still coming to terms with triple-bottom-line reporting

By: Deborah Spicer     17th February 2003 South African companies are slowly becoming aware that organisations are not just being judged on their economic performance. 

Broad-based BEE law to be tabled soon - Mbeki

17th February 2003 Enabling legislation will be introduce into parliament early this year establishing parameters for the creation of a “Global Transformation Charter” dealing with black economic empowerment, President Thabo Mbeki revealed in his state of the nation address on Friday. 

Aerospace, call centres to receive attention from State

By: Martin Czernowalow     17th February 2003 The South African government will make various interventions in the economy this year, to further encourage its growth and development, said President Thabo Mbeki in Parliament on Friday. 

Small business to get advocacy body

By: Martin Czernowalow     17th February 2003 South Africa will table legislation amending the Small Business Act, in order to set up a nationwide advocacy body to act as the voice of this sector and to ensure that support to SMMEs is available at the local level throughout the country. 

SA to expand public works programme

By: Martin Czernowalow     17th February 2003 South African President Thabo Mbeki announced on Friday that the government would launch an Expanded Public Works Programme, aimed at addressing investment in social infrastructure. 

Contractor starts repair work on Moz roads

17th February 2003 Construction firm WBHO has started work on repairs to Mozambique’s main arterial between Maputo and Beira, in the nKomati flood plain region of Mozambique. 

Sasol plays down impact of new pricing scheme

17th February 2003 South African fuel producer Sasol said on Friday a new fuel price scheme to be introduced in April could hurt earnings, but only by between 2% and 3% in the next financial year. 

Nigeria oil union says set for total strike today

17th February 2003 The world oil markets faced a turbulent week ahead as Nigeria's white-collar oil union PENGASSAN said on Sunday it had fully mobilised for a "total" indefinite strike targeted at exports. 

WTO talks hit agriculture deadlock

17th February 2003 Ministers from more than 20 countries failed to bridge bitter divisions on key agricultural trade reform on Saturday, sending a World Trade Organisation (WTO) blueprint back to the drawing board as thousands of farmers held noisy protests. 

Johnnic to unbundle MTN stake

17th February 2003 Johnnic Holdings said on Friday it would unbundle its 36,5% stake in cellphone operator MTN Group and distribute it to shareholders, a move it hopes would unlock value for its investors. 

Sasol supports new fuel pricing mechanism

17th February 2003 The South African Minister of Minerals and Energy, Phumzile Mlambo-Ngcuka, announced that a new fuel pricing mechanism is to replace the In-Bond Land Cost (IBLC) with effect from April 2, 2003. 

Lack of maintenance likely cause of Duvha explosion

By: Martin Czernowalow     14th February 2003 It appears likely that a lack of maintenance led to the explosion at Eskom’s Duvha power station last month, but the South African power utility has not confirmed this. 

Nepad infrastructure forum next month

14th February 2003 A forum for engagement between local infrastructure firms and governments on the New Partnership for Africa’s Development (Nepad) will be held in Mozambique next month. 

Finnish trade visit to boost SA ties

14th February 2003 Finland's Minister for Foreign Trade, Jari Vilen, will lead a Finnish business delegation to South Africa from February 18 to 20. 

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