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Latest News

Telkom competitor to target data – analyst

5th March 2002 A fixed telecoms network to rival South Africa’s Telkom will likely focus on providing data rather than voice services and will probably only turn a profit in its seventh or eighth year, a research house said. 

Vehicle exports off to a flying start

5th March 2002 South African new vehicle sales were lower in February, in line with expectations, as pre-emptive buying to avoid price increases fizzled out, manufacturers said. 

Bearing Baron: From two-bit store to billion-rand business

4th March 2002 Picture this. A young wife minds the store while her husband holds down three jobs. He's driven by a determination to be financially independent following a difficult childhood. 

Hedge instrument to protect against weather

4th March 2002 A wholly-owned subsidiary of the financial services group Sanlam, Gensec Bank will be the first to offer the South African market weather derivatives following the formation of a strategic alliance with Aquila. 

French win Mali telecoms bid

4th March 2002 The bidding to operate fixed-line and mobile phone services in Mali has been won by France Telecom, after competing with State-owned operator Sotelma. 

Record liquidation in Jan and worse forecast

4th March 2002 A record 398 liquidations were recorded in January this year, the highest ever for the first month, and a third more than at the start of 2001. 

Energy groups targeting remote areas of globe

1st March 2002 Natural gas isolated in the remotest corners of the world is the target for energy companies desperate to meet booming global demand. 

SA consulting sector begins to fire

1st March 2002 Members of the consulting engineering sector reported that the industry performed better than expected in the period January to June 2001 with an increase in income of 5,7% over the same period last year. 

New tool to make aluminium pricing transparent

1st March 2002 The London Metal Exchange turned to the cradle of the US car industry to help galvanise support for its newest creation, an aluminum alloy contract set to make its debut next week. 

R5m contract for airport navigation equipment

1st March 2002 A division of JSE Securities Exchange listed electronics group Grintek, Grintek Aviation Systems has been awarded a contract of over R5-million for the supply, installation and commissioning of the Kruger Mpumalanga International Airport’s navigational equipment. 

Nigeria's privatisation process slammed

1st March 2002 The speaker of Nigeria’s parliament slammed President Olusegun Obasanjo’s privatisation programme, accusing government officials of selling state assets to themselves. 

Malaysian telecoms firm wants to retain Ghana stake

28th February 2002 State-controlled Telekom Malaysia said it wants to keep its investments in Ghana Telecom and is currently in talks with the Ghana government. 

Africa to find it hard to meet UN targets

28th February 2002 At a conference hosted by the UN in Accra, Ghana, grave doubt was thrown over Africa’s ability to achieve the United Nations (UN) millennium goals set for 2015. 

Tunisia, Benin to expand mobile networks

28th February 2002 Africa’s fast-growing mobile telephone network market is receiving added impetus with both Tunisia and Benin have called for bids from operators in an attempt to get more people connected 

Radebe announces privatisation plans

28th February 2002 South Africa moved to reassure investors of its privatisation pledge, saying it was working to find a foreign partner for power group Eskom, adding it had also agreed rail restructuring plans with unions. 

Engineering firm's strategy shift pays off

28th February 2002 Engineering group Murray & Roberts continued its turnaround in the six months to December 31, 2001, delivering excellent results that exceeded market expectations. 

Annan calls for mindset change on environment

27th February 2002 The World Summit on Sustainable Development, to be held in South Africa later this year, “must mark a break with business as usual”, United Nations secretary-general Kofi Annan stated. 

SA petchem firm join West Coast gas search

27th February 2002 South African energy firm Sasol has received formal approval to look for natural gas off the country’s west coast, joining a list of firms keen to tap into a potential gas market. 

Weak rand and restructuring boosts explosives, chemicals firm

27th February 2002 The sharp decline in the rand coupled with a successful restructuring programme is beginning to have a profound impact on the earnings of South African explosives, chemicals and fibres group AECI Limited. 

SA steel firm to raise flat-steel prices

27th February 2002 South African steel producer Iscor said it would raise the price of its flat-steel products by 9,8% from May as international steel prices looked poised to recover from 30-year lows. 

East London BEE to assemble trucks

27th February 2002 Car manufacturer Daimler Chrysler South Africa has taken a strategic decision to outsource one of its key production areas, namely the CKD (completely knocked down) production of commercial vehicles, and the Mercedes-Benz Actros, to a black empowerment firm. 

G8 backing for Nepad

26th February 2002 The G8 group of the largest industrialised countries have said African governments must adhere to democratic principles and ensure the restoration of peace and security to benefit from their action plan aimed at pulling the continent out of its severe poverty and widespread underdevelopment. 

Malaysian telecoms firm reviewing Ghana investments

26th February 2002 Malaysia’s dominant phone firm, Telekom Malaysia, said it was reviewing its investments in Ghana after Accra failed to renew Ghana Telecom’s exclusive concession for fixed-line voice telephony. 

Project finance arranged for cell network in Cameroon

26th February 2002 A subsidiary of the French development agency Agence Fran 

French to take majority stake in SA defence group

26th February 2002 The Department of Public Enterprises and French firm Turbomeca marked an important milestone in the government’s restructuring programme for the defence sector by signing heads of agreement in preparation for Turbomeca to acquire a majority equity holding in the Airmotive division of Denel. 

Fuel-cell technology development deal

25th February 2002 A unit of United Technologies Corporation, UTC Fuel Cells, signed a deal with Nissan Motors to develop fuel-cell technology for future generations of cars, the Wall Street Journal said. 

South Africa's plan to anchor competition at its ports

25th February 2002 South Africa's ports have been identified by some transport analysts as the 'weakest link' in the overall logistical chain. 

Gautrain tender process starts today

25th February 2002 The Gautrain has passed its feasibility test and the tendering process will start today with the request for pre-qualification (RFQ). 

Nigerian moves to cure 'Enronitis'

25th February 2002 Nigerian Liquefied Natural Gas is close to signing new contracts to replace a deal it had with Enron to lift almost half of the gas produced from two new liquefied natural gas (LNG) plants, a company official said. 

Ghana mulls telecoms privatisation ahead of liberalisation

25th February 2002 Ghana said it may sell off more of its State-controlled telecommunications company as it vowed to open its fixed-line network to competition. 

SA petchem firm to buy balance of wax interest

25th February 2002 South African petrochemical giant Sasol said at the weekend that it had agreed to buy the 33% of Schumann Sasol International it does not already own from its German joint venture partners VARA Holding for 49-million euros ($42,7 million). 

SA needs to bolster tooling sector

22nd February 2002 The South African toolmaking industry is not currently meeting the tooling needs of the automotive industry, says Arts, Culture, Science and Technology Minister Ben Ngubane. 

Strong results for SA construction group

22nd February 2002 One of South Africa’s largest construction companies, Group 5, announced strong results for the six months to December 2001. 

Another gas-to-liquids project proposed for Qatar

22nd February 2002 A letter of intent has been signed by Qatar Petroleum and Shell International Gas to study the development of a gas-to-liquids (GTL) scheme to link with the North Field upstream project. 

SA-India in defence cooperation

22nd February 2002 South Africa’s defence-related industry wants to build on the good bilateral relations with India to establish stronger cooperation along the Indian Ocean Rim in general and with Indian defence industry in particular. 

Mpumalanga wants R300m sports facility

21st February 2002 Mpumalanga’s sports, recreation, arts and culture department is meeting various consortia to get a R300-million provincial stadium off the ground. 

Resources giant invest $100m in Gulf of Mexico pipeline

21st February 2002 Resources giant BHP Billiton said it would invest $100-million in a pipeline system in the Gulf of Mexico to ship oil and gas from the ultra-deepwater Atlantis and Mad Dog fields. 

UK engineering group to sell two divisions

21st February 2002 The British engineering group that has axed thousands of jobs in a battle to restore its fortunes, Invensys, said it would chop $2- billion from its debt pile by selling two divisions. 

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