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Latest News

Dairy experts gather in Kenya

9th October 2002 Over 70 experts from Africa and Europe have gathered in Nairobi to discuss the modalities of resuscitating the ailing dairy industry. 

Angola oil firm appoints adviser for refinery

9th October 2002 Angola's state oil company, Sonangol has appointed investment bank Dresdner Kleinwort Wasserstein as financial adviser on a $3,6-billion refinery project, the bank said on Monday. 

State mulls removal of Vat to ease food inflation

9th October 2002 Amid the impact of rocketing food and fuel prices, government is set to introduce mechanisms that could help ordinary consumers cope with the rising cost of living. 

Direct investment high on Business Council’s agenda

By: Martin Czernowalow     9th October 2002 The South African Government yesterday outlined its objectives for the fourth meeting of the President’s International Investment Council (IIC), which will take place in Durban on October 12 and 13. 

Big petroleum empowerment deal

9th October 2002 In a move creating South Africa’s largest black-owned service provider to the retail petroleum industry, Kagiso Ventures, the private equity arm of Kagiso Investments, has acquired a 36,1% shareholding in Prowalco from RMB Corvest, the private equity company in the First Rand Group and... 

Technology group remains acquisitive

9th October 2002 South Africa's Allied Technologies Ltd said on Tuesday it would pay out R52,5-million ($5-million) as a special dividend, but would keep to its acquisition drive after reporting a 20% rise in earnings. 

Nine SA cities form support group

8th October 2002 South Africa’s nine largest cities have formed a network to share their information and find innovative solutions in the face of demographic changes, growing urban poverty and increasingly fierce global competition. 

Indigenous fruit farms could boost food security

By: Martin Czernowalow     8th October 2002 The ARC-Institute for Tropical and Subtropical Crops (ITSC) is currently conducting a study into the farming of indigenous fruit trees, as a way of creating food security in South Africa. 

Metals sectors in growth phase

By: Terence Creamer     8th October 2002 South Africa’s metals and engineering sector is in a strong growth phase, with sales during the first half of 2002 showing growth of between 16% and 25%. 

Credit insurer reports good results in brutal year

8th October 2002 South Africa’s leading credit insurer, Credit Guarantee, has produced surprisingly good results, against the backdrop of what CEO Mike Truter terms a “brutal underwriting climate” for credit insurers around the world. 

Tender out for Coega customs-management system

By: Martin Czernowalow     8th October 2002 A request for expression of interest has been made for the development of a customs management strategy and systems for the Coega Industrial Development Zone (IDZ). 

Competition body to probe steel firms

8th October 2002 South Africa's Competition Commission said yesterday it had launched a probe into Iscor after receiving complaints from several companies accusing the steel group of acting anti-competitively. 

Dams: essential growth or damning development

By: Deborah Spicer     7th October 2002 Discussions around the Skuifraam dam in the Western Cape are focused on many of the elements of the large-scale dam debate that has occupied the world's attention for the last 15 years. 

Tanzania in oil-exploration talks

7th October 2002 Tanzania expects to begin talks with oil giant Royal Dutch/Shell before the end of October on the terms of an offshore exploration licence awarded in September, an official said last week. 

Czech, SA trade relations bolstered

7th October 2002 Opportunities for trade between South Africa and the Czech Republic were given a boost last week, when South Africa’s Trade and Industry Deputy Minister Lindiwe Hendricks signed an agreement with her counterpart Dr Miroslav Somol in Prague. 

SA offers to mill GM food for stricken region

7th October 2002 South Africa offered last week to mill 600 000t of genetically modified grains sitting at its ports, while hunger-stricken countries in the region decide whether or not to accept the gene-altered foods. 

SA tractor sales rise nearly 50%

7th October 2002 High yields and crop prices are encouraging South African tractor sales, which rose almost 50% in the year to September, the country's agricultural machinery association SAAMA said last week. 

Tourism company upbeat for 2003

7th October 2002 Leading South African tourism company, Tourism Investment Corporation (Tourvest), anticipates that the current financial year will be another excellent period for the firm. 

SA drops dumping probe against Italians

By: Martin Czernowalow     7th October 2002 The Department of Trade and Industry’s (DTI) Board of Tariffs and Trade has terminated an investigation into the dumping of foreign products in South Africa – the first anti-dumping investigation launched by the board this year. 

SA power utility in 200m euro bond issue

7th October 2002 South Africa's state-owned power utility Eskom launched a planned 200-million euro bond on Friday, defying European national holidays and emerging bond market volatility that might have derailed it. 

SAA finalises acquisition of Air Tanzania

7th October 2002 South African Airways (SAA) has finalised its R200-million bid to acquire a 49% stake in Air Tanzania, emerging as a winner in the closely contested bid. 

State moves to demystify telecoms listing process

By: Martin Czernowalow     4th October 2002 The first phase of the government’s education campaign, in support of the long-awaited Telkom Initial Public Offering (IPO), was launched by the South African Minister of Public Enterprises, Jeff Radebe, in Pretoria yesterday. 

KZN plans to offer farm start-up packs

4th October 2002 The KwaZulu-Natal Government plans to issue start-up packs to needy communities, so they can begin growing their own food in response to rocketing prices. 

Buoyant manufacturing conditions continue - report

4th October 2002 The Bureau for Economic Research (BER) concluded, in a survey conducted in conjunction with the Department of Trade and Industry, that manufacturing conditions in South Africa still remain buoyant. 

Millers ask government for zero maize duty

4th October 2002 South African millers called on the government yesterday to cut import duty on maize to zero, saying that this would help curb recent sharp rises in domestic food prices. 

US software firm wins ruling against Telkom

4th October 2002 US software maker Telcordia said last week an international arbitrator has ruled in its favour in a dispute with the South African phone utility Telkom, which the government plans to partly privatise by next March. 

Nigeria to export 25m t/y LNG by 2008

3rd October 2002 Africa's top oil exporter, Nigeria said on Tuesday it would start exporting more than 25-million metric tons a year of liquefied natural gas (LNG) in 2008, when it hopes to end gas flaring. 

Chinese oil firm awarded $525m Algeria field

3rd October 2002 The Algerian government on Tuesday awarded a $525-million crude oil development field to the Chinese company Sinopec, the official Algerian news agency APS reported. 

WTO to probe Brazil complaint on agri subsidies

3rd October 2002 Brazil has filed suit against the European Union's (EU) and the US's agricultural subsidies at the World Trade Organisation (WTO), reports La Tribune. 

State to seek clarity on rising maize prices

3rd October 2002 Government says it will seek clarification from millers if the price of maize meal goes up by 20% more, as predicted, before the end of the year. 

Aluminium offset project launched in Maritzburg

3rd October 2002 The Germany frigate consortium, which is supplying corvettes to the South African Navy, has launched a significant aluminium offset project in KwaZulu-Natal. 

Southern Africa seeks to tackle food crisis

3rd October 2002 Southern African leaders urged foreign donors yesterday to speed up food and debt relief for the region where millions of people face the twin scourges of hunger and the AIDS pandemic. 

SA petrochemical firm in Germany pipeline deal

2nd October 2002 German chemicals group BASF said on Monday it and Sasol Germany had acquired a third of ethylene pipeline company ARG, which oil major BP was obliged to sell for antitrust reasons. 

SA to cut maize tariffs in two weeks

2nd October 2002 South Africa said on Monday it would cut imported maize tariffs within two weeks, bringing relief to importers suffering the double blow of high international prices and import duties. 

El Nino could dry southern Africa

2nd October 2002 Southern African rains look likely to dry up in a growing El Nino phenomenon, weather forecasters said on Monday, but South African farmers said winter rains had set them in good stead for the dry spell. 

Electricity prices under upward pressure - Minister

2nd October 2002 Minerals and Energy Minister Phumzile Mlambo-Ngcuka forecasts that electricity prices in South Africa, which are among the lowest-cost globally, will come under upward pressure in the medium term, and that this pressure could be mitigated only by the introduction competition. 

Construction leader bullish on toll projects

By: Martin Czernowalow     2nd October 2002 The head of South Africa’s largest construction group is optimistic that the government is focusing on various major road projects and says it seems increasingly likely that some of the mega projects, such as the Gauteng Super-Highway System, as well as the Wild Coast freeway will go ahead. 

New fund to link aid, trade opportunities

2nd October 2002 The World Bank and the World Trade Organization (WTO) are establishing a new fund, called the Standards and Trade Development Facility, as part of their efforts to link aid to trade opportunities in the fight against poverty. 

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