Staff Reporter
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/ 29 November 2007

October credit growth slows to 22,27%

Growth in demand for credit from South Africa’s private sector eased marginally to 22,27% year-on-year in October, but remained high, keeping up pressure on the central bank to raise interest rates again. Central bank data showed on Thursday credit growth slowed from 22,46% in September, while annualised M3 money supply was down at 23,39% from 24,94%.

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/ 29 November 2007

Natwest Three plead guilty to $7,3m fraud

A trio of British bankers dubbed the ”Natwest Three” face 37 months in prison after pleading guilty to stealing ,3-million tied to the collapse of Enron. The men, who worked for Natwest’s investment banking arm, concocted a deal in 2000 with two senior Enron executives who have since been jailed.

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/ 29 November 2007

A spirit of give and take

Even if Thabo Mbeki wins the African National Congress (ANC) leadership at Polokwane — and this looks increasingly unlikely given the outcome of the provincial general councils last weekend — he will face a totally new power configuration after December 21.

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/ 29 November 2007

‘The ANC is not the US’

Some ANC national executive committee members believe that changes are needed in the procedure for the election of the party’s president, which should take place after an ”open campaign”. The idea is that anyone interested in leading the ANC would declare their interest and openly campaign for the position, writes Malusi Gigaba.

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/ 29 November 2007

Social grants: Dependency or development?

As the African National Congress gears up for its Polokwane conference in little more than two weeks, many wonder if a possible change in leadership will signal an accompanying change in social policy, especially social grants — one of the most important and controversial weapons in the fight against poverty.