Shareholders in South Africa’s BoE Ltd approved the bank’s R7,5-billion rand takeover by bigger financial services group Nedcor on Monday, as had been widely expected.
South African Finance Minister Trevor Manuel said laws to ensure that financial institutions invested money fairly were necessary but would not be forced on the country without consultation.
South Africa’s biggest labour federation Cosatu said on Monday it planned a two-day national strike in October to protest against privatisation.
Anglo American Platinum, the world’s biggest producer of the metal, signed a two-year wage agreement with eight labour unions on Tuesday, ending months of negotiations, the unions and company said.
Increasing public concern about corporate behaviour could damage the reputation and finances of companies, warns PricewaterhouseCoopers.
The South African government invited consultancies on Friday to bid to provide domestic public relations services for the initial public offering (IPO) of phone utility Telkom.
Once South Africans agree that there is an urgent need to transform their society, and in particular the mining industry, it will become easier to negotiate the ways towards that common goal, says President Thabo Mbeki.
Group Five, one of South Africa’s largest construction companies, announced on Wednesday that its subsidiary, Group Civils, has secured two contracts worth R95 million at Vilankulo in
Mozambique.
The financial services group Sanlam reported a 4% increase in operating profit to R1 085 million for the first six months of 2002, compared with the first half of 2001.
The National Union of Metalworkers of South Africa on Sunday said 70 000 motor retail workers were ready strike nationally if mediation with the Retail Motor Industry Association failed.