The R1-trillion renaissance man

With R1-trillion under management, Public Investment Corporation (PIC) CE Elias Masilela is arguably the most powerful man in the savings industry.

Political clout might put Telkom right

I never thought I would say this but perhaps it's time to bring General Siphiwe Nyanda back into the communications fold, says Lloyd Gedye.

Cement fracas puts public money at risk

South African cement giant Afrisam is at the centre of a war between local and international investors.

State pension fund questions Freeworld board

South Africa's state pension fund Public Investment Corporation has expressed its concern about Freeworld Coatings' handling of the takeover offer.

Molefe appointed new Transnet CEO

Former Public Investment Corporation CEO Brian Molefe will take over as Transnet's new boss.

Shareholders force Arcelor rethink

ArcelorMittal says its R9-million BEE deal with Imperial Crown Traiding could be revisited.

Just can't get enough

Government clings to JSE investments and places its role of policy director in question.

Conflict management

It was one of Hixonia Nyasulu's past BEE-related investments that got the Sasol board in hot water, hours after announcing her as its chosen leader.

PIC funding disinvestment?

The Public Investment Corporation has supplied the money for two of the biggest disinvestments from South Africa since the apartheid era.

Business chief sees positives in power crisis

The new head of Business Unity South Africa said on Wednesday he was "quite happy" about the country's electricity crisis, despite the power cuts and disruption, as it will result in needed change. Brian Molefe said the problems were a "blessing" in disguise that would force policy changes and greater reliance on alternative sources of energy.

AngloGold plans 69,4-million share rights offer

Gold miner AngloGold Ashanti is to proceed with an approximate one-for-four renounceable rights offer, which would result in it issuing approximately 69,4-million ordinary shares at a minimum share price of R172, it said on Tuesday. This would raise gross proceeds of approximately R11,9-billion -- or about $1,6-billion.

SA mines shut down as power crisis worsens

South African gold producers and the world's biggest platinum miner suspended production at all their mines in the country on Friday due to a power crisis, helping send precious metal prices to new highs. Shares in most of the affected firms dived as the government said the power cuts were "a national emergency".

Darkness in the corporate heart

The bigots never tire. For many years they have sought to justify colonialism and slavery in their noble quest to bring civilisation to the heart of darkness. Last week they were at it again. This time their target was Jimmy Manyi, the employment equity commission chairperson. The bigots accuse him of double standards because he works for a company accused of colluding in bread price-fixing.

M&G says Sexwale deal not on the table

Mail & Guardian publisher Trevor Ncube has scotched rumours that Tokyo Sexwale's Mvelaphanda Group is planning to buy a 30% stake in the newspaper. Ncube said that the company was in talks with a number of people, but at this stage, a deal was not on the cards.

Mbeki: Govt not behind Johncom bid

President Thabo Mbeki has denied that the government is behind the Koni Media Holdings' bid to buy media giant Johncom. He described as "irrational" the media storm around the bid by Koni -- which is partly owned by Foreign Affairs spokesperson Ronnie Mamoepa, presidential political adviser Titus Mafolo and former chief of protocol Billy Modise.

Union concerned about retirement insurance

The retirement insurance industry needs to undergo a fundamental change, the National Education Health and Allied Workers' Union said on Friday. "In the recent past there have been numerous disastrous instances where workers' savings have been wilfully misused and even squandered," said the union in a statement.

Opposition slams Johncom takeover bid

The takeover bid of media company Johncom by Koni Media Holdings -- belonging in part to President Thabo Mbeki's political adviser Titus Mofolo -- was met with strong opposition by the Democratic Alliance and the South African Communist Party on Monday.

Company denies govt involvement in Johncom bid

Koni Media Holdings on Sunday denied government involvement in its bid to take over media and entertainment company Johncom. "Koni Media strongly denies any involvement of the Presidency or any other government structures in its bid for a 100% stake in Johncom," said group CEO Groovin Nchabeleng.

Mbeki's men bid R7-billion to buy Johncom

President Thabo Mbeki's political adviser and a government official are among a group who want to take over Johnnic Communications (Johncom). Koni Media Holdings, a company belonging to Mbeki's adviser Titus Mafolo, Foreign Affairs Department spokesperson Ronnie Mamoepa, former chief of state protocol Billy Modise and a businessman, have launched a R7-billion bid.

PSL to pay soccer bosses R70m

The Premier Soccer League (PSL) has set aside R70-million with which to pay members as a "token of gratitude" for their part in securing rights and sponsorship deals. The amount would be "apportioned to the members of the negotiating team and other role players" and would be a one-off payment.

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