BLACK empowerment firm African Harvest, in conjunction with United States-based Risa Investment Advisers, announced on Monday a scheme to offer US investors opportunities to invest in selected businesses in South Africa. The scheme will offer investors securities or open-ended equity mutual funds as a vehicle to invest in South African firms. African Harvest CEO Leon […]

THE Insider Trading Act, which provides for both civil and criminal prosecutions for insider trading offences on the financial markets, kicked in at the weekend. The Act assigns control over insider trading to the Financial Services Board which will be required to publish rules governing disclosure to the authorities as well as how to deal […]

AIR Lesotho will fold its wings on February 6. “Heavy losses from August 1997 to December 1998” were blamed by the privatisation unit of the Lesotho ministry of finance for closing the national air carrier. The firm was established in 1997 after privatising Lesotho Airways. Since then is has lost approximately R200000 per month, according […]

FORMER Zambian president Kenneth Kaunda has challenged incumbent President Frederick Chiluba to refute charges that he has helped to arm Unita rebels in Angola. “There is no smoke without fire — let them deny it convincingly and effectively because Angola keeps coming back with the same accusations,” the independent Post newspaper quoted Kaunda as saying. […]

MAURITIUS Telecom has acquired 66% of the private Madagascar telephone company Sosaiety Misahna Varotra Sylndostria, the Mauritian national company said on Tuesday.The installation of expansion facilities will begin in April at a cost of 15 million dollars to MT, which will oversee the financial, commercial, technical and administrative management of SMVI. According to 1996 figures, […]

KENYAN authorities have appointed an anti-corruption advisory board, meeting a key condition for the resumption of talks on an aid package halted by the International Monetary Fund in July 1997. Attorney General Amos Wako named the new advisory board to the Kenya Anti-Corruption Authority (KACA)late on Monday. Its first task will be to nominate a […]

PENNY HEYNS won her second breast stroke event and the World Cup short-course swim meet on Saturday. Heyns edged two Australians in the 50-m sprint, finishing in 31:27 to Helen Denman’s 31:29 and Samantha Riley’s 31:81. Heyns beat Riley in the 100m breast stroke on Friday.

THE University of Pretoria launched a satellite-based pilot programme on Tuesday which will link two schools via satellite to lecturers in Pretoria in the rural Northern Province. The pilot project, which has targeted 200 pupils at the Nape A Ngaato and Mkoni A Mabule high schools, hopes to boost existing matric pass-rates of roughly 20% […]

FRANK Pooe cruised to victory in the Reebok Half Marathon in Bedfordview, Johannesburg, on Sunday, finishing in 66:23. Pooe was the first of the Liberty Life/Reebok team to cross the line — and more followed. All four top places were taken by his team members and, had one runner not been disqualified, all five top […]

BAFANA Bafana have suffered a series of setbacks just 48 hours before flying to Mauritius for an African Nations Cup qualifier on January 23. A knee injury rules out Swiss-based striker Shaun Bartlett, midfield anchor John Moeti has been suspended by Orlando Pirates and wingback Steve Lekoelea was briefly detained by police at the weekend […]