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Latest News

Telkom’s convergence strategy confirmed

2nd November 2001 South African phone utility Telkom said it still wanted to increase its 50% stake in the country’s number one mobile operator, Vodacom, to a majority and that it had no plans to list Vodacom separately. 

Senegal extends electricity bids deadline

2nd November 2001 Senegal has extended a deadline for offers from foreign bidders for a 51% stake in State power generator and distributor Senelec, an energy ministry official said. 

Big steel and mining moves ahead of Iscor’s unbundling

2nd November 2001 outh Africa’s Anglovaal Mining (Avmin) said it had agreed to sell its 11,5% stake in steel and mining group Iscor to Stimela Mining for R746- million in cash. 

Springs emerges as world industrial-diamond hub

2nd November 2001 Diamond giant De Beers has reaffirmed its commitment to its home country, South Africa, by establishing the world’s largest synthetic-diamond manufacturing plant in Springs, Gauteng. 

Moz–SA gas pipeline contract awarded

2nd November 2001 South African synthetic fuel producer Sasol has awarded a contract to a joint venture company formed between Itochu of Japan and Europipe of Europe for the supply of about 865 km of coated 660 mm line pipe for transporting natural gas from the Temane gas field in Mozambique, to Secunda in South... 

WTO draft creates optimism for new round

1st November 2001 The 142 members of the World Trade Organisation (WTO) moved an important step closer this weekend to a new global trade round in Doha, Qatar, after a revised draft agenda was drawn up that trade diplomats said significantly narrowed areas of disagreement, reports the Financial Times. 

Oil major thumbs nose at renewables

1st November 2001 US oil giant Exxon Mobil defended its decision not to invest in renewable energy at an industry conference in London and said it was focusing on energy efficiency instead. 

Algeria delays oil, gas bidding process

1st November 2001 Algerian State-owned oil and gas giant Sonatrach has delayed to next week the opening of bids for the development of oil and gas projects, a company official said. 

East Africa power conference

1st November 2001 The third East African power industry convention has started in Addis Ababa, The Daily Monitor reports. 

SA broadband access still someway off – study

1st November 2001 could take five years to be rolled out fully in South Africa, held up by price, infrastructure and regulatory constraints, a study showed. 

R150m capex plan for healthcare group

1st November 2001 Healthcare group Afrox has indicated that its R150-million capital expenditure programme for growth projects in the 2001 financial year has already started to deliver, with most of the projects up and running, or well advanced. 

Bush launches $200-million support facility for Africa

31st October 2001 President George W Bush has announced the creation of a $200-million ‘support facility’ that will give US firms access to loans, guarantees and political-risk insurance for investment projects in sub-Saharan Africa. 

SA is ready for Doha, claims Erwin

By: Terence Creamer     31st October 2001 Trade and Industry Minister Alec Erwin says South Africa will never again be as ready for trade talks as it is for the fourth ministerial meeting of the World Trade Organisation (WTO), to be held in Doha, Qatar, early next month. 

IMF visits DRC

31st October 2001 An International Monetary Fund (IMF) mission has arrived in Congo to review the implementation of an emergency programme to help the country following years of civil strife, officials said. 

Sudan oil project for sale

31st October 2001 Talisman Energy has indicated that it could sell its stake in war-torn Sudan’s biggest oil project to Sweden’s Lundin Petroleum. 

Telkom listing postponed

31st October 2001 South African Finance Minister Trevor Manuel said on Tuesday that the partial listing of the largely State-owned Telkom phone company and the sale of the State’s 20% stake in mobile phone company M-Cell would not happen in fiscal 2001/02. 

New head of State-enterprise restructuring

31st October 2001 The Department of Public Enterprises has announced that Cabinet approved the appointment of Malixole Gantsho as Deputy Director-General and Head of Restructuring. 

Cape Town International Convention Centre, Western Cape

31st October 2001 Cape Town International Convention Centre Company (Convenco) has invited suppliers to pre-qualify to tender for 37 contracts for various furniture, fixtures and equipment for the Cape Town International Convention Centre. 

Labour calls for a ‘reconstruction bond’

By: Terence Creamer     30th October 2001 The South African labour movement has reiterated its call for the creation of a reconstruction bond to help boost investment flows into public infrastructure. 

Kenya mulls SA energy imports

30th October 2001 Kenya plans to import electricity from South Africa to avert power shortages in future. 

Economic downturn hurts LNG prospects

30th October 2001 This time last year energy companies were rushing to unveil multimillion- dollar liquefied natural gas (LNG) schemes but the heady talk has given way to a more sober mood as a chill light falls on the economic landscape. 

New Egyptian well begins producing

30th October 2001 US Ocean Energy has begun production at its newly-discovered find offshore, Egypt, which will almost double the firm's output in the country, a company official said. 

Sharp drop in world trade growth forecast

29th October 2001 Growth in world merchandise trade is expected to slow in volume terms to only 2% in 2001 – compared with 12% in 2000. 

Strong call for ‘Development Round’ at Doha

29th October 2001 Removing barriers to trade, the topic of WTO meetings in Doha in early November could significantly boost the long-term prospects of developing countries, many of which are suffering from the fall-out of the September 11 attacks and worldwide slowdown, according to a new World Bank report. 

Big gas pipeline project approved

29th October 2001 Resources giant BHP Billiton announced approval for the construction of a fourth Bass Strait gas pipeline from the Bream field into the BHP Billiton/Esso Australia joint venture’s Gippsla 

Industrial development mandate for the continent

26th October 2001 With regard to African economic development, South Africa's President Thabo Mbeki is a firm believer in the old adage that action speaks louder than words. 

Petrol fuel-cell alliance announced

26th October 2001 The world’s largest car manufacturer, General Motors (GM) and ChevronTexaco formed a pact to speed the pace of introducing petrol fuel-cells in cars, a technology that cuts emissions of greenhouse gas carbon dioxide in half. 

R95m SA procurement offer from UN agency

26th October 2001 South African businesses received R95-million in 2001 from the United Nations Children’s Fund (Unicef) for the procurement of supplies – a figure that has risen more than five-fold in two years 

New CSIR head announced

26th October 2001 Trade and Industry minister Alec Erwin announced the appointment of Dr Sibusiso Sibisi as the new president of the CSIR. 

Eleventh-hour changes to telecoms law

26th October 2001 South Africa revised the groundrules for enhanced telecoms competition, tabling changes to a law that will encourage competition among fixed-line phone operators and protect mobile operators. 

World Bank – Tanzanian gas deal

25th October 2001 Tanzania has signed a development credit agreement with the World Bank in Washington under which the International Development Association (IDA) will make available some $183-million, for the Songo Songo gas project in Tanzania. 

Nigeria plans big LPG investment

25th October 2001 Techno Oil Nigeria has concluded arrangements to establish a liquefied petroleum gas (LPG) extraction plant worth about R50-million in the Niger Delta in order to boost operations of the company. 

September PPI slows down to 7,8%

25th October 2001 Lower annual rates of increase in petroleum and coal, basic metals and electricity helped to lower the Production Price Index (PPI) for all commodities for South African consumption to 7,8% in September 2001. 

Southern African aluminium workers strike

25th October 2001 The National Union of Metalworkers of South Africa (Numsa) said it would proceed with a strike at BHP Billiton’s Bayside and Hillside aluminium smelters today despite a restraining court order. 

Nigeria's gas flaring ban deadline is extended

24th October 2001 Nigeria has extended the deadline for oil operators in the country to end gas flaring to 2008 from 2004, vice-president Atiku Abubakar said. 

Zim telecoms firm discouraged by SA law

24th October 2001 Zimbabwean telecoms company Econet Wireless International (EWI) said it was not ready to consider bidding for a fixed-line licence in South Africa under the current draft of a controversial new telecoms law. 

WTO meeting on for Qatar

24th October 2001 After two days of meeting with Qatari officials in Doha, director-general Mike Moore said that WTO’s fourth ministerial conference will go ahead despite security fears in the wake of the suicide hijackings. 

US moves to project steel sector

24th October 2001 A US trade panel cleared the way for President George W Bush to impose import restrictions on key steel products by early next year. 

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