A string of unrealised multimillion-rand investments with shady financial traders based in South Africa has left some Namibian state-owned companies embarrassed by the fact that they may have been conned into signing away at least R130-million in public funds.
The first study of the film sector in almost five years says it is "particularly important that the restrictive tax and labour legislation is addressed", if the industry is to maintain its stature and increase its competitiveness. According to the Microeconomic Development Strategy Report, which will be officially released later this month, the sector’s worth stands at a turnover of R1-billion per annum
The BBC’s headline read “Bolton appointed US envoy to UN”, and suddenly I found myself hoping that it was Michael Bolton. What a splendid envoy he would be! Crimped mane streaming behind him, its middle parting as white and straight as the American Dream, his linen shirt open to the medallion-line.
Pioneering empowerment company Worldwide Africa Investment Holdings, traditionally a discreet player in a game dominated by high-profile individuals, is having to deal with intense scrutiny as its assets expand and public attention focuses on two of its founders: South African Airways CEO Khaya Ngqula and MTN chief Phutuma Nhleko.
Spare a thought for Telkom CEO Sizwe Nxasana. He has just had his salary package cut by 37%, from R11,14-million to R6,9-million. Telkom has cut executive salaries and bonuses in the past two years from R59-million to R33-million. The Telkom board, no doubt, has taken note of the new mood sweeping the country as workers look not so much at CPIX.
The most high profile legal battle in three years is likely between Telkom and the Independent Communications Authority of South Africa (Icasa) over the cost of high-speed Internet access, after Icasa slammed the telecoms giant for charging "exorbitant" fees.
Car manufacturers BMW, DaimlerChrysler and Volkswagen; the country’s fourth-largest financial institution, Commerzbank; Europe’s largest chip-producer, Infineon — five of Germany’s leading firms, all members of its Dax-30 blue-chip index, have become embroiled in corruption scandals in recent months.
As South Africa was announcing a partial finance rescue package for Zimbabwe on Wednesday, President Robert Mugabe instructed his Zanu-PF politburo to extend Operation Murambatsvina to urban suburbs. Mugabe accused his local government and security arms of ”hypocrisy” for halting the demolitions.
‘Good morning, goeiemôre,” says the call-centre operator, going on to mention the name of ”my” insurance company. Phew, I’m relieved I dialled the -correct number. But there’s something slightly niggling about this conversation. ”Good morning, goeiemôre,” she said.
France has expelled two radical Islamist leaders in the wake of the London bombings and plans to round up and send home up to two dozen more by the end of the month, the Interior Ministry said this week. A ministry spokesperson said France had ”no problem” deporting speakers accused of inflaming anti-Western feeling.