SOUTH Africa and Nigeria are to set up a joint commission co-chaired by their respective deputy presidents to promote economic cooperation between the two countries, a top official said Monday. The commission, to sit alternately in Nigeria and South Africa, will work on cooperation in economic matters, notably energy and industrial needs, number two in […]
CASINO stock Moribo Leisure Ltd plunged through its year low price of 150c to 120c on Monday as investors ditched the stock after a failed bid for the national lottery, analysts said. The share has retraced gains made on speculation that it would get South Africa’s first lottery licence, and it has slipped from a […]
SOUTH African Airways said on Tuesday that its return to profit for the first time since 1995 has boosted plans to list on the Johannesburg bourse. Chairman Mafika Mkhwanazi said the airline also expects to report substantial growth in its earnings in the current financial year as benefits from its recent tie-up with Swissair start […]
BORDER upset Currie Cup champions Blue Bulls by beating them 20-15 on Tuesday in East London, after leading 13-3 at the break. Border’s eighthman, Graham Carlson, scored a sensational 40-metre solo try, adding to a try by flyhalf Kobus van der Merwe, both of which fullback Wayne Weyer converted and added two two penalties. This […]
THE 35th OAU summit also mandated the organisation’s secretary-general, Salim Ahmed Salim, to convene a regional conference on small arms. The meeting would make recommendations on steps to solve problems related to the use, transfer and illegal manufacturing of small arms. The summit welcomed initiatives already taken on the issue by member states and regional […]
MARK Malloch Brown, the new chief of the United Nations Development Program, on Monday called on African countries to “take the risk and jump in” to the global economy. Addressing a conference on the sidelines of the Organization of African Unity summit, he said economic success “is correlated with the degree of integration with the […]
MALAWI, Tanzania, Zambia and Mozambique have joined forces in a multi- million-dollar venture, known as the Mtwara development corridor, to boost trade and investment in landlocked countries in the region. Negotiations on the corridor began last November, and the four have already begun working on developing the Mtwara corridor from the Tanzanian side. The project […]
WEDNESDAY, 10.30PM: SOUTH African pulp and paper manufacturer Sappi on Wednesday announced that more than 50% of its shares are held by foreign investors, exceeding their predictions that the 50% milestone would only be passed next year. Sappi said that an asset swap of 5-million shares concluded on Tuesday brought the total non-resident shareholding to […]
ZIMBABWEAN riot police are guarding the headquarters of President Robert Mugabe’s ruling Zanu(PF) party in the capital Harare on Wednesday, a day after running battles with scores of demonstrating war veterans. At least 14 veterans were arrested after police fired teargas to disperse stone-throwing protesters blockading the headquarters to demand compensation for their role in […]
NEDBANK and two of its strategic partners have acquired a 75% stake in the Finance Corporation of Malawi, following its devolvement from government. The general manager of Nedbank Africa, Keith Key, said that the purchase is a new strategy for Nedbank to establish a network of banks in the sub-Saharan Africa, especially in the Southern […]