Santam Risk Finance, a wholly-owned subsidiary of short-term insurance group Santam, on Friday announced that it has concluded a deal with Kagiso Treasury Services — partly owned by Kagiso Trust Investments — to sell a third of the company to Kagiso. As an integral part of the transaction, Santam has acquired the Nova Group.
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/ 25 February 2005
The Basic Income Grant (BIG) Coalition on Friday said that Finance Minister Trevor Manuel should get his facts and figures straight. The coalition was responding to the remarks made on Thursday that it will cost the country an estimated R90-billion per year to provide an income grant to all South Africans as a means of poverty alleviation.
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/ 23 February 2005
The trade union Solidarity on Wednesday said it is to ask mining group Kumba Resources to impose a two-year moratorium on retrenchments. The trade union claimed that Kumba is persisting with the retrenchment of 400 workers in spite of a very profitable financial year. The request will form part of Solidarity’s Save the Workers campaign.
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/ 21 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>Trade union Solidarity on Monday asked Minister of Finance Trevor Manuel — ahead of his Budget speech on Wednesday — to focus on job creation, which will stimulate economic growth. Solidarity was presenting its wish list for Wednesday’s Budget speech at a media conference in Johannesburg.
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/ 16 February 2005
Proudfoot Consulting on Wednesday became the first international management consulting group in South Africa to sell equity to black economic empowerment (BEE) investors. The group said direct empowerment through BEE ownership will provide a competitive advantage for international firms.
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/ 16 February 2005
Black economic empowerment (BEE) group Izingwe Capital, which has investments in mining beneficiation, financial services and power and engineering will acquire a 25% stake in Peters Papers, the merchant division of listed packaging group Nampak.
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/ 9 February 2005
After a number of accidents at its operational plants, dual-listed fuel and chemicals group Sasol on Wednesday declared safety "a top priority" for 2005. Sasol CEO Pieter Cox addressed the media in Johannesburg, saying that there is no greater priority in the company than safety. He added that the group has a zero-tolerance approach to unsafe behaviour.
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/ 4 February 2005
South Africa’s largest union federation, the Congress of South African Trade Unions (Cosatu), and its counterpart, the Zimbabwean Congress of Trade Unions (ZCTU), have threatened demonstrations including blockades of all borders to Zimbabwe. This comes after the leaders of Cosatu and the ZCTU met on Thursday in South Africa.
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/ 31 January 2005
In its submission to the committee that facilitates negotiations on black economic empowerment (BEE), Agri South Africa on Monday stated that its members support the objectives of BEE and are already promoting it in practice, but that the organisation differs essentially with official BEE proposals that were published last year for comment.
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/ 25 January 2005
Nissan Diesel South Africa on Tuesday announced the appointment of two South African directors to its board — the first time that the Nissan Diesel Motor Corporation has appointed local staff on the board of directors at any of its subsidiaries in the world.