MONDAY, 11.00AM
THE Industrial Development Corporation has signed a R250-million five-year, fixed-rate eurorand term loan.
The loan, which was signed last week with Rabobank of the Netherlands and Commerzbank in Johannesburg, will be financed by Rabobank. It is the IDC’s second eurorand loan.
IDC CEO Khaya Ngqula said the loan will be used to fund investments in capital projects and small and medium enterprises.
BUSINESS BRIEFS
SASOL EXPORTS ALCOHOL PARASTATAL oil-from-coal operation Sasol, which last week said it would reintroduce alcohol-blend petrol on the SA market, said at the weekend it has secured a R600-million export deal for the fuel-alcohol it would have introduced to the domestic market in September. The export deal is in addition to sales to Brazil. However, the company cautioned that export opportunities cannot be guaranteed, and it might reintroduce alcohol blends to local petrol in the near future. Alcohol-blend petrol was sold in SA between 1980 and 1994, and caused numerous problems to the fuel systems of cars.
ESKOM SUPPLIES 100% OF NAM POWER ESKOM is effectively the sole supplier of electrical power to Namibia, after the drought in the country left the level of the Kunene river too low run the 240MW Ruacana hydroelectric station.
SUGAR STRIKE ENDS TODAY FOLLOWING weekend intervention by the Council for Conciliation, Mediation and Arbitration, the 19-day strike in the sugar industry is set to end today after more than 4 500 workers agreed to return to their jobs. In terms of the strike-breaking deal, sugar bosses and workers have agreed to an 11,25% increase backdated to April 1, followed by an additional 2% increase from December 1.