WEDNESDAY, 11.30AM
THE World Bank will heavily promote regional integration with maximum private-sector involvement in Southern Africa during the coming year, Bank officials said in Washington on Tuesday.
Country director for SA Pamela Cox, after a meeting of country directors and resident repesentatives of 12 Southern African countries, said regional integration is less advanced in Africa than in most other parts of the world, but that social and economic issues, such as communications, diseases and water, often transcend national boundaries.
The meeting focused on four priority projects to further regional integration: A study of regional trade flows; Encouraging private-sector participation in cross-border transport infrastructure and links; Setting up a regional banking clearance system; and Water issues. *
BUSINESS BRIEFS
JSE LISTINGS SURGE
THE Johannesburg Stock Exchange says that there was a big surge in new listings this year, with 20 listings already on the boards, eight more recently approved, and another 20 being processed. This marks a major step forward from the trickle of new listings in previous years.
FRUIT BOARD DIES …
THE Decidious Fruit board, which monopolised the industry for much of the apartheid era and gave export permits only to one favoured company, ended its life on September 30. From Wednesday, the export market in fruit will be open to any takers. A decision on the board’s R9,5-million assets will be taken later in the month.
… AND TAXMAN GOES PRIVATE
THE SA Revenue Service (SARS) becomes administratively independent of government from Wednesday, with the power to hire staff at higher salaries than other civil service bodies. The newly structured tax service, now run along similar lines to private businesses, aims to expand the country’s tax base, and improve internal efficiency and morale after losing 1 200 staff to government severance packages.
OIL TANKS FOR HIRE
THE Strategic Fuel Fund, the state’s oil storage and acquisition arm, is considering commercialising its oil storage facilities at Milnerton in Cape Town. The 39-tank facility adjoining the Caltex refinery can hold 7,8-million barrels of oil, but is empty at present. SFF deputy GM Piet Coetzee said development of the facility offers an ideal opportunity to emerging businesses.
September
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