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/ 7 June 2005

A lot of ingredients for chef Mboweni

If the Reserve Bank believes it has conquered inflation and is more concerned about socio-political holy grails of growth and employment, it should cut interest rates next week, according to Mandla Maleka, chief economist at Eskom Treasury. This in a week when French idiosyncrasies wreaked havoc on local currency.

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/ 7 June 2005

One builds, one burns

As violent protests over lack of housing and service delivery erupt in Cape Town, it is useful to contrast the city’s experience with that of Durban. Cape Town’s problems can be understood from various angles. It is no worse off than Durban in terms of human settlement needs — indeed, in terms of absolute numbers, its problems pale in comparison.

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/ 7 June 2005

Policy surrenders top R20-billion

Last year R20,5-billion worth of individual life investment products were surrendered before maturity. This represents a staggering 26% of the R74-billion the life companies received from total individual premium income last year. When one compares this figure with individual premium income from new business last year, for every R2 of new business written, R1 was lost to surrender.

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/ 7 June 2005

Whitehouse consortium bags Sasani

A group led by current CEO James Whitehouse has been selected to buy movie company Sasani’s remaining assets for around R130-million. The deal still requires regulatory and shareholder approval but could be concluded shortly. Sasani announced recently that the Whitehouse consortium was the preferred bidder for its assets.

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/ 7 June 2005

SABC shortlist down to two – Rapport

The new SABC chief will be either Sentech head Sebiletso Mokone-Matabane or Altron executive Dali Mpofu, Afrikaans Sunday paper <i>Rapport </i>said on the weekend. Without citing any sources, the newspaper said the shortlist of possible replacements for Peter Matlare had been narrowed to those two names and that the SABC board would have to choose between them.