THE WORLD Bank has approved a $150m credit for Kenya to help spur growth and fight poverty. The funds will support efforts to shift public expenditure towards poverty reduction programs, streamline the civil service and help implement a more ambitious privatisation strategy. The credit will be disbursed in three $50m instalments, with the first to […]

FORMER Mozambiqan first lady Graa Machel will deliver the key address at the 10th Global Summit of Women, which starts in Johannesburg on October 5. South Africa was selected to be the first African hosts of the summit, which is informally known as the “Davos for Women,” because it has the most women in its […]

REUTERS, Melbourne | Thursday 9.50am. MINING giant Rio Tinto has rejoined its battle with South African mining giant Anglo American for control of Australia’s North Ltd, hiking its offer substantially in its bid for North’s iron ore assets. Rio Tinto’s new bid of A$4.75 a share, which values the Australian mining and forestry group at […]

REUTERS, Johannesburg | Wednesday 10.05am. MINERALS explorer Randgold Resources is weighing the future of its troubled Syama gold mine in West Africa, including finding a joint venture partner or selling it. The move is part of a broader overhaul of the Randgold group’s strategy and structure aimed at boosting a flagging share price, group officials […]

REUTERS, Johannesburg | Wednesday 10.40am. LONDON-listed financial services firm Old Mutual announced a joint venture with India’s Kotak Mahindra Group to set up a nationwide life assurance business in the liberalising Indian market. Old Mutual said the venture would be capitalised at about 1.5 billion rupees or 22.25m with Kotak Mahindra Finance Ltd initially owning […]

PRESIDENT Thabo Mbeki on Thursday backed Palestinian leader Yasser Arafat’s plan to declare an independent Palestinian state on September 13, despite no conclusive settlement having been reached in Middle East peace talks. “I think it’s morally correct,” Mbeki said. Addressing a press conference after meeting Arafat, Mbeki said the OAU and the Non-aligned Movement had […]

OWN CORRESPONDENT, Johannesburg | Thursday 8.45am. PEOPLE should debate the matter of whether or not the military should use journalists as informants, because the issue is complex, Defence Minister Mosiuoa Lekota said on Thursday. He said claims that Defence Intelligence is trying to recruit journalists as spies are “still under investigation.” “The SANDF has never […]

DIMENSION Data (Didata) spent the first 200m portion of the funds it raised in its London listing last month when it bought the remaining stake in the British-based network integration services firm, Chernikeeff Networks. Didata bought the 50.01 percent it did not already own in Chernikeeff from founder Peter Harrison, who will stay on at […]

THE INTERNATIONAL Monetary Fund said it will lend Tanzania $26m under an existing lending programme and praised the east African country for curbing inflation and pursuing economic reforms. The international lending agency said its loan to Tanzania meant the country had now borrowed $53m under the three-year lending scheme. Implementation of its macroeconomic programme resulted […]