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Latest News

Strategic defence research alliance struck

6th June 2002 A CSIR/Armscor strategic alliance has been established in order to create a world-class technology provider that will maximise the benefit of defence and related technology for the people of South Africa. 

Africa must receive special attention – World Bank

6th June 2002 World Bank President James Wolfensohn called on the leaders of the Group of Eight industrialised nations to pledge that more than half of the new aid promised at Monterrey will go to Africa, as the continent struggles to overcome immense challenges like the HIV/Aids pandemic and the lack of basic... 

WTO panel to examine US steel measures

6th June 2002 A bitter row over US steel tariffs intensified when the World Trade Organisation (WTO) gave the green light to the European Union for experts to examine the legality of the measures. 

Job-seekers registration at Coega

6th June 2002 An ambitious job-seekers’ registration campaign that will see some 600 000 free registration forms being distributed throughout the Nelson Mandela Metropolitan area has been launched by the Coega Development Corporation (CDC). 

SA's first wind farm to get going in Sept

6th June 2002 The first phase of South Africa’s only wind farm will be operational by September. Situated on the Windhoek Farm in Darling, in the Western Cape, the 10 MW demonstration wind farm will commission its first 5 MW phase after a feasibility study was completed last month. 

US, Japanese firms to revamp Nigeria steel plant

5th June 2002 Nigeria has signed separate joint venture deals with a Japanese and US firm to complete its Ajaokuta Steel, still unfinished after swallowing $4,5-billion, a senior government official said. 

R100m tyre investment for PE, Brits

5th June 2002 Tyre maker Bridgestone Firestone has announced that it will invest R100-million in its plants in Port Elizabeth and Brits. 

Gauteng prioritises growth in 2002 Budget

5th June 2002 Gauteng finance and economic affairs MEC Jabu Moleketi tabled his department’s R967-million budget for the 2002/03 financial year, stressing that growing the province’s economy was a priority. 

Tripartite telecoms acceleration deal

5th June 2002 The South African government, business and labour agreed to team up to speed up development of the telecoms and technology sector, which has shed thousands of jobs in the past few years. 

Tanzania rethinks sale of telecoms firm

4th June 2002 Tanzania said it was considering whether to continue with the privatisation of its state telecoms firm after what it called the failure of foreign investors to finish paying for their 35% stake. 

US energy secretary to attend Africa summit

4th June 2002 US Energy Secretary Spencer Abraham will hold talks next week with African energy ministers during a summit to promote business opportunities and energy technology between the US and the continent. 

Black empowerment key in engineering privatisation

4th June 2002 Companies interested in bidding for controlling interest in Roshcon, a State-owned diversified engineering business, should have a strong black empowerment component to their consortium. 

Risk services group's earning rise

4th June 2002 Financial and risk services group Alexander Forbes has maintained its growth path with headline earnings per share up 49% on the previous year. 

Briefing on SA's energy restructuring

4th June 2002 The Department of Public Enterprises and the Department of Minerals and Energy is holding a briefing session on Wednesday in Pretoria to explain the details of the restructuring of the electrical supply industry (ESI). 

$2,4bn sought for Guinea aluminium factory

4th June 2002 Russian Aluminium is considering building an aluminium factory in Guinea once a planned bauxite mine and alumina plant are up and running, company officials in the West African country said. 

Zambian president backs diversification plans

4th June 2002 Zambia's President Levy Mwanawasa said yesterday that he backed quick action to diversify its copper-based economy in the wake of a decision by Anglo American to pull out of its troubled Zambian venture. "Our heavy dependence on copper has rendered our economy vulnerable. 

Nigeria sets timing for second telecoms licence sale

3rd June 2002 The Nigerian Communications Commission issued a new timetable for the licensing of a second national telecoms operator after halting the process in March. 

South American FTA delegation visit postponed

By: Keith Campbell     3rd June 2002 Mercosur free trade area negotiating delegation's arrival in SA has been postponed from early June to late July due to scheduling difficulties on both sides. 

Minister upholds Coega decision

3rd June 2002 The Minister of Environmental Affairs and Tourism, Mohammed Valli Moosa, decided to uphold the decision to authorize the development of the Coega harbour and the Industrial Development Zone (IDZ). 

Southern Africa's cross-border game drive

By: Irma Venter     3rd June 2002 It all began when local business leader Anton Rupert met with Mozambican president Joaquim Chissano in 1990 to discuss the possibility of creating the world's greatest animal kingdom between Mozambique and South Africa. 

Govt to release on food prices in mid-June

3rd June 2002 Government departments investigating the causes of recent food price hikes have postponed the release of the report to mid-June. 

Cameroon privatisation stumbles

3rd June 2002 Cameroon’s privatisation programme, a central plank of its cooperation with international donors, has run into problems again because would-be buyers are not coming up with enough cash for state industries. 

North African countries in refinery, helium investments

31st May 2002 One of South Korea’s top builders, LG Construction, said it had won a $280-million order to build and refurbish refineries in Libya. 

Paper giant to issue $500m in bonds

31st May 2002 South African pulp and paper group Sappi said that its European subsidiary Sappi Papier Holding (SPH) planned to launch at least $500-million in bonds with a minimum maturity of ten years. 

Namibia awards contract for 220 kV power line

31st May 2002 A R130-million tender for the construction of a 294 km 220 kV twin Pelican conductor power line has been awarded to ABB Namibia by NamPower. 

Gauteng housing info just a phone call away

31st May 2002 Free information about housing in Gauteng is now just a phone call away. 

Emerging oil play signs LNG deal with major

31st May 2002 Resources giant BHP Billiton, together with the other participants in the North West Shelf Venture, signed sales and purchase agreements with Shell for the sale of liquefied natural gas (LNG) from the North West Shelf Venture (NWS) in Western Australia (NWS). 

$5bn breweries tie-up concluded

31st May 2002 London listed South African Breweries (SAB) said it was buying the Miller Brewery business of US group Philip Morris for $5-billion to become the world’s second-largest brewer. 

French firm favours SA to locate smelter

31st May 2002 French aluminium firm Pechiney has selected South Africa’s Coega industrial zone as the preferred location for its 460 000 ton a year aluminium smelter. 

Big contracts for industrial contractor

31st May 2002 A division of the IST group, IST Industrial, has been awarded a R50-million turnkey contract for the upgrading and expansion of the compressed air system at the Hillside aluminium smelter. 

Metals sector reaches wage accord

31st May 2002 The employer parties to the Metal and Engineering Industries Bargaining Council, represented by Seifsa, and representatives of the eight trade unions on the bargaining council (including NUMSA, NETU and CEPPAWU) yesterday reached agreement on the terms and conditions of employment for workers in... 

SMEs the key to growing SA’s business

30th May 2002 Designed to develop the small-business sector in South Africa, the section 21-company Small Business Project (SBP) has achieved great success since its inception in 1996, policy and research manager David Christianson reports. 

Gauteng to spend R1,5bn on water, sanitation

30th May 2002 The Gauteng government will spend R1,5-billion in the next four years to provide 230000 families with better water and sanitation services, Gauteng development planning and local government MEC Trevor Fowler said. 

Ivory Coast promotes trade and investment in SA

30th May 2002 The Ivory Coast has consistently been among South Africa’s top trading partners in Africa with exports totaling R2590million and imports amounting to R77-million. 

US exports misery to Africa with Farm Bill

30th May 2002 The White House and Congress are trumpeting their determination to bring economic opportunity to the people of Africa, but first, a few million sub-Saharan farmers will have to suffer, the Los Angeles Times reports. 

DRC hopeful that more will follow telecoms investment

30th May 2002 If billboards are a sign of economic activity, the only thing really happening in Kinshasa is mobile telephony. 

Iranians, Norwegians in gas-field deal

30th May 2002 Iranian oil company Petropars said that it had signed a memorandum of understanding with Norway’s Statoil to take a stake in the giant South Pars gas project if Enterpise pulls out. 

Auto manufacturer in R1,3bn export deal

30th May 2002 Auto manufacturer Delta Motor Corporation and automotive component manufacturer Bosal Afrika have cemented their close working relationship after securing a R1,3-billion catalytic converter export contract. 

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