BUSINESS in South Africa is taking a low-key approach to Friday’s launch of a single European currency, the Euro. On January 1, 11 European nations will see their national currencies subordinated to the common currency, although they will continue to exist in tandem with the new unit until 2002. Most South African businesses say the new common currency will have little effect on them, as the component currencies will continue to exist, with many saying the new currency will simplify matters. None are taking any action except minor software upgardes to handles quotes in the new unit..
HALF TANZANIAN AIRPORTS FOR SALE
HALF of all airports in Tanzania will be in private hands before the 2005 as the government speeds up its plans to commercialise public utilities and free itself from the burden of day-to-day businesses and improve efficiency, the Daily Mail reports. “Before … 2005 it is expected half of Tanzanian airports will run under private management which will see that more efficient services areavailed to air passengers arriving or leaving the country,” the paper quoted transport and communications secretary Salim Msoma as saying. Msoma added that in principle, the government has accepted the concept the commercialisation of all utilities infrastructure including airports. He noted, however, that ownership of the utilities will remain with the government, while their management is taken over by private concerns.