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Latest News

Greek President on state visit to SA

31st October 2002 President Constantinos Stephanopoulos, of the Hellenic Republic, is visiting the country until tomorrow, on the invitation of President Thabo Mbeki. 

SA cell firm scores as govt raises Africa cap

31st October 2002 Years of lobbying paid off for South African mobile phone operator MTN Group on Tuesday, when the government more than doubled the limit on local firms' investments in other African countries, supporting the MTN share price. 

Senegal gas field goes onstream

31st October 2002 Small US exploration company, Fortesa International, this month began producing gas in onshore Senegal in West Africa and is applying for a licence for the adjoining offshore field, its chief executive said on Tuesday. 

Scorpions in illegal fishing sting

31st October 2002 The South African Minister of Environmental Affairs and Tourism, Valli Moosa, has praised the Department of Environmental Affairs and Tourism (DEAT) and the Scorpions for once again cracking down on illegal fishing activities by seizing a fishing vessel, worth R6-million in Cape Town yesterday,... 

Few telcos seen daring to take up SA offer

31st October 2002 South Africa may find itself without any foreign bidders for a phone licence to rival state utility Telkom by today’s deadline, dealing another blow to government promises of low-cost competition. 

Technology firm believes it is on upward trend

31st October 2002 Multi-national technology innovator, Spescom, ended its current financial year on September 30, and preliminary indications point to an improved second half. 

Provinces begin meeting capex targets

30th October 2002 Provincial capital expenditure on public works, roads and transport reported at the end of March 2002 was an estimated 95% of available funds, finance minister Trevor Manuel reported in Parliament yesterday. 

Billion rand turnover target in sight

30th October 2002 The listed Bearing Man just keeps getting stronger. A weaker rand means more for it – and even a short-term stronger rand will be a booster. 

El Nino to hit Southern Africa’s agricultural sector

30th October 2002 Drought is always a fear for southern Africans, but this year farmers are keeping a close eye on a brewing El Nino weather pattern that looks likely to exacerbate regional food supply problems. 

Electronics firm announces new BEE initiative

30th October 2002 In its latest Empowerment initiative, multi-national technology innovator, Spescom, has announced that certain strategic aspects of the group's Cisco Systems network business will move to Sourcecom – a company committed to the goal of becoming the leading black economic empowerment (BEE) IT... 

Drought threat to maize crop in hungry Swaziland

30th October 2002 Swaziland will reach a critical point this week, for the planting of crops and food shortages threatening a quarter of the population are sure to worsen unless rains fall soon, farmers and officials said. 

Regulator approves 8,4% power tariff increase

29th October 2002 The board of the National Electricity Regulator (NER), at its meeting held on Friday, approved an average price increase of 8,4% for Eskom for 2003. 

SA unveils plan to unclog busiest harbour

29th October 2002 South Africa's port authority has put in place a plan to get rid of major cargo delays at Durban, one of Africa's most important harbours, by next week. 

Paper group’s 2002 earnings seen down on weak prices

29th October 2002 South African paper giant Sappi is likely to report 2002 headline earnings per share (EPS) down at least 11,5%, bruised by poor prices and the global economic slowdown, analysts said yesterday. 

Canadian firm fined in Lesotho corruption case

29th October 2002 A Canadian engineering firm, embroiled in a high-profile bribery case in Lesotho, said yesterday it would appeal against a $2,2-million fine handed down by the country's high court. 

Black business still not using State incentive schemes

By: Martin Zhuwakinyu     28th October 2002 Perhaps realising that much-needed economic growth and employment creation will be driven by the private sector, the government has gone out of its way to encourage the establishment of new businesses owned by foreigners and locals alike and to support existing ones. 

Africa looks south for waste-oil solutions

28th October 2002 Over 32 delegates, from English-speaking African countries that are signatories to the Basel Convention on the Transboundary Movement of Toxic and Hazardous Waste, were hosted in Cape Town in October to prepare a plan of action for managing waste oils in Africa and their own countries. 

Stainless industry in white-goods drive

By: marisa rodrigues     28th October 2002 The local stainless-steel industry continues to be one of the fastest-growing markets in the world and it is expected that local consumption will grow from 120 000 t last year to 300 000 t by 2006 and a million tons by 2010. 

SA, India share advanced computing know-how

28th October 2002 Indian advanced computing specialists and decision-makers arrived in the country this weekend in preparation for a two-day Indo-SA Advanced Computing Workshop, staged in Pretoria. 

State to fast-track learnership programmes

28th October 2002 The Department of Public Service and Administration (DPSA) is using the government's leadership and internship programmes to train public servants in project management and to prepare graduates to enter the labour market. 

Nigeria votes to ease tension over oil cash

28th October 2002 The Nigerian senate passed a law last week giving the country's oil-producing states a share of revenues from offshore oil wells, in a move intended to defuse tension in such states over revenue sharing. 

Electricity regulator mulls tariff-increase plan

25th October 2002 The board of National Electricity Regulator (NER) meets today to consider new tariff proposals from State-owned electricity utility Eskom. 

Telecoms regulator needs urgent strengthening

By: Martin Czernowalow     25th October 2002 The Independent Communications Authority of South Africa (ICASA) is planning to adopt a proactive approach in the near future, with a view to promote stability and innovation within the local telecommunications sector. 

Delay in telecoms rival costs SA dearly – analyst

25th October 2002 Long delays in introducing a competitor to phone utility Telkom have probably cost South Africa at least R900-million ($88,4-million), a leading research house said on Wednesday. 

Anti-dumping investigations decline in first half of 2002

25th October 2002 The World Trade Organisation (WTO) Secretariat reported that in the period January 1 to June 20 this year, 17 members initiated 104 anti-dumping investigations against exports from a total of 39 different countries or customs territories. 

PCs diverted from landfill to schools

25th October 2002 The first of around 150 000 personal computers destined for landfill sites were rolled out to schools in South Africa on Wednesday, as part of efforts to make the country's children web-savvy. 

Engineering group to sell energy division

25th October 2002 Europe's biggest engineering group ABB announced fresh cost cuts yesterday and plans to sell its big oil, gas and petrochemicals division within 12 months as it fights to regain investor confidence. 

Young scientist in talks with power utility 

25th October 2002 Winner of the Catalyst Innovation Competition run by Catalyst Innovation Incubator, Acorn Technologies and Deloitte & Touche, Wernich de Villiers of Stellenbosch University, is presently in discussion with Eskom to examine the further development and assessment of his invention. 

SA firms seek opportunities in East Africa

25th October 2002 Economies of countries in East Africa have been undergoing a steady, yet almost unnoticed growth and many enterprising South African organisations have been quick to take advantage of the development, with local exports of goods and services into East Africa multiplying exponentially. 

Port congestion on agenda of marine convention

25th October 2002 Representatives from all across Southern Africa are expected to attend the South African Ports, Shipping and Freight Convention that will take place at the International Convention Centre in Durban on November 27 and 28. 

R1,2bn finance package for KZN casino

25th October 2002 Various agreements have been concluded between Investec Bank and Tsogo Sun Kwazulu-Natal (Proprietary) giving effect to a financing package of R1,275-billion for the development of the Suncoast Casino and Entertainment World in Durban 

Stunning results from steel group

25th October 2002 South African steel group Iscor reported better-than-expected first-quarter results on Thursday, thanks to stronger steel prices and a fully ramped up Saldanha plant, and its shares set a year high. 

Telecoms group, unions agree on strategy

25th October 2002 South African telecommunications group, Telkom and the Alliance of Telkom Unions (ATU) have reached an agreement on Telkom's proactive alternative strategy to prevent job losses and to create new career opportunities for Telkom employees. 

Oil explorer in talks with other bidders

By: Martin Czernowalow     25th October 2002 South African oil and exploration group, Energy Africa announced last week that it was in talks with bidders who are interested in some 34,7% of the company, the only portion not held by Malaysain State-owned oil company Petronas. 

Engineering group optimistic on Gautrain involvement

By: Laura Franz     24th October 2002 Local specialist in energy and transport infrastructure Alstom SA remains hopeful that the Gauliwe Consortium, consisting of Alstom International (Alstom), Dragados Concesiones, Grinaker-LTA, Siemens and Canac, will be the winning bidder for the construction of the R7-billion Gautrain Rapid Rail... 

SA telecoms partners likely to stay after listing

24th October 2002 South African state phone company Telkom's US and Malaysian shareholders are likely to be obliged to retain their stakes for a time when the firm is part-privatised next year, a senior executive said on Tuesday. 

All sectors face BEE shake-up

24th October 2002 South Africa plans to introduce charters in all sectors of its economy mapping out plans to give blacks a bigger stake, a senior government official said on Tuesday. 

Central Karoo receives R18m for projects

24th October 2002 The Western Cape provincial government has handed over R18-million to the Central Karoo to uplift and empower people in the region. 

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