HEAVY fighting between the army and insurgents in southern Guinea has claimed 93 lives since the weekend and forced thousands of civilians to flee their homes, the security services said. Relief agencies warned that more than 200_000 refugees and displaced local people were exposed to starvation, disease and assault and again cut off from assistance […]

SOUTH African IT company Computer Configurations Holdings (CCH) has sold its infrastructure management division Infracom to the unit’s management for up to R210m. The disposal is part of a deal by data management firm MGX to buy out all other CCH assets. Absa Corporate Bank is providing most of the funding for the buyout of […]

BRITISH Airways has begun lining the fuel tanks of its Concorde jets with the same type of rubber used in bullet-proof vests in a move aimed at making the supersonic jet safe enough to fly again this spring. Chief BA Concorde pilot Mike Bannister said changes to the plane’s delta-shaped wings were intended to prevent […]

DE BEERS and LVMH, the world’s leading diamond miner and top fashion group, have set up a joint venture to combine style and substance in luxury jewellery retailing. The two companies will each invest up to $200m over a four or five year period in the unnamed retail group, which will open ”a small number” […]

ZIMBABWE’S Reserve Bank governor Leonard Tsumba says average inflation is expected to rise to about 70% in 2001 from 55.7% last year, further threatening the fragile economy. High inflation levels had led to high nominal interest rates with serious debt service implications for the country’s productive sectors, Tsumba said. Tsumba also cut interest rates on […]

MARIA Ramos, the national Treasury’s director, has reaffirmed the government’s commitment to execute the initial public offering (IPO) for Telkom, the telecoms utility, by the end of the year, Business Report said. “We are working like crazy to make sure this deal is executed in the last quarter of this year. The deadline we gave […]

HOTEL and retail group Meikles Africa has closed a 150-room wing at its Meikles Hotel in Zimbabwe, local media reported. The Financial Gazette quoted Meikles’ Commercial Director Mark Collins as saying the hotel – whose occupancy rate had dwindled to about 20% – would operate a 180-room wing until economic conditions improved. CUSTOM SHARE SERVICE […]

SEVERAL members of Zambia’s ruling party want to see the constitution amended so that President Frederick Chiluba can seek a third term in office. Copperbelt members of the Movement for Multiparty Democracy (MMD) have petitioned its national secretary to propose a constitutional amendment. Both the national and the MMD party constitutions forbid Chiluba from holding […]