South African mobile telecommunications group Vodacom and its shareholders, together with Rand Merchant Bank, a division of FirstRand Bank, are currently in the process of structuring a R7,5-billion black economic empowerment (BEE) transaction, it said on Monday. The Vodacom group said that its BEE transaction was "well on track".
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The government has suspended further payments of Jacob Zuma’s legal costs over his impending corruption trial, it was reported on Monday. The Star quoted the head of the state attorney’s office as saying that the government would not pay future legal costs until Zuma provides a detailed account of how he had spent money previously received from the state.
Zimbabwe President Robert Mugabe has admitted for the first time that famine exists in his country. ”There is hunger in the country and a shortage of food,” he was quoted as saying in the Sunday Mail. Observers say the admission is unprecedented as Mugabe has previously dismissed reports of famine as ”Western propaganda”.
Scrap cars, fridges and burning tyres were used to barricade several Durban roads on Monday as about 500 residents demanded that a local ward councillor leave the area. The residents are demanding that an African National Congress (ANC) ward councillor leave his office and move out of the area as he had ”not kept his word on service delivery”.
The Cape High Court on Monday gave the go-ahead for the eviction of several thousand residents of the Joe Slovo informal settlement to make way for a housing development. Hundreds of Joe Slovo residents, who had gathered in the street outside the court, chanted angry slogans after the judgment was handed down.
World 60m hurdles champion Liu Xiang went through two medal ceremonies at the world indoor championships on Sunday when organisers mistakenly played the Chilean national anthem instead of China’s. Chinese star Liu, the Olympic and world 110m hurdles champion, had clinched the gold medal on Saturday.
Security forces armed with loud hailers were deployed in eastern Sri Lanka on Monday to drive away wild elephants blocking access to polling booths, police said. Villagers in Wellaveli told the authorities that they were unable to vote at the first local elections in 14 years because a herd of elephants had blocked their polling booth.
Tropical cyclone Jokwe battered parts of Mozambique for a third day on Monday, killing at least eight people and destroying thousands of homes in the northern Nampula province, Radio Mozambique reported. Four districts were being lashed by heavy downpours and strong winds of up to 200km/h, said the broadcaster.
The National Prosecuting Authority (NPA) will ”revisit” its mail handling processes after five staffers became ill after handling a letter delivered to the office of acting head Mokotedi Mpshe, spokesperson Tlali Tlali said on Monday. Mpshe was not affected, but five people had to be treated for headaches and rashes.
The JSE continued to be haunted by fears of a United States recession, which sent most heavyweight stocks on a selling spree by midday on Monday. Adding to the negative sentiment was a pull back among local resource heavyweight counters, traders said. By noon, the JSE’s broader all-share index had fallen 1,75%.