TRANSHEX Ltd on Monday announced a number of senior management changes within the diamond mining and exploration group, including the news that group managing director Niel Hoogenhout would step down. At the same time, Transhex said that its performance was “above expectations” and that its recent announcement of a R120-million plant expansion at its flagship […]

NIGERIA has freed an aide of late dictator Sani Abacha, held on suspicion of plotting with Libyan commandos to spring Abacha’s son from jail. Kaloma Ali, a former minister, was released on Saturday after two days in detention, the independent Sunday Concord said, quoting Ali’s lawyer Mustapha Bolama. Ali was arrested in the northern city […]

DESPITE further delays due to rain, the Williams and British American Racing (BAR) teams managed to get down in earnest to Formula One testing at Kyalami on Monday. After a wet start, the sun broke through and the track dried out, allowing Williams drivers Ralf Schumacher and Jenson Button to reel off 129 laps between […]

THE Namibian government will spend close to N$28-million in the coming financial year on upgrading the Walvis Bay Airport to international standards. The Works, Transport and Communication Ministry has invited tenders for the upgrading, rehabilitation and extension of the existing runway, a new taxiway and the terminal access at the former military airport. Although the […]

SWAZILAND Railways have secured a R8,7-million grant to expand its major clearing depot at Matsapha. Swaziland Railways chief executive Gideon Mahlalela said on Monday that the depot, in Swaziland’s major industrial centre, handled 17729 cargo containers between 1996 and 1999. The first phase, already underway, involves design and construction work, soil compacting, and laying in […]

CROP losses from the floods in the Northern Province are expected to run to about R700-million, the Northern Transvaal Agricultural Union said on Tuesday. Floods destroyed crops ranging from fruit trees to maize and vegetables, and many farmers were expecting poor harvests, or none at all. “It’s a very bad situation, since the biggest farms […]

CONSTRUCTION group Stocks and Stocks lost 90% of its value to just one cent on Tuesday morning after the company said there is no shareholder value left in the company and it will delist. The company said on Monday that its earnings per share have fallen to 115 cents loss for the six months to […]

MOZAMBICAN President Joaquim Chissano appointed two new cabinet ministers and 15 deputy ministers on Tuesday. The appointments follow Chissano’s election victory in December, when his Frelimo party narrowly beat the opposition Renamo with 133 to 117 parliamentary seats. Chissano himself only narrowly managed to retain the presidency after winning 52.3% of the presidential vote against […]

INFORMATION technology firm Spicer Holdings Ltd on Tuesday warned that its first half earnings had been adversely affected by a number of factors, including the discovery of management misconduct. “Gross management irregularities at a senior management level, the precise nature of which is currently under investigation, have been discovered in MIS-CDS Group Holdings Ltd and […]

TWO weeks after a Kenya Airways jet plunged into the sea off Cote d’Ivoire, the cause of the crash remains a mystery as the plane’s black box sits in a sealed container in Abidjan. Director of Cote d’Ivoire’s civil aviation authority Jean Kouassi Abonoua said that the flight data recorder, retrieved from the debris in […]