South Africa's economy is expected to remain growing at around the 3% level achieved over the last two years, according to Craig B Pheiffer, Chief Investment Strategist at Sasfin Frankel Pollak Securities (SFN).
The recent outbreak of foot and mouth disease in Botswana won't easily spill over into South Africa's Limpopo Province as the provincial agriculture department already has strict control measures along the border, provincial representative Phuti Seloba said in a statement.
SABMiller's John Bowlin, incoming President and CEO of the Miller Brewing Company, is resigning, to be replaced by Norman Adami, currently chairman and managing director of South African Breweries ltd, effective from February. 1, 2003.
The JSE Securities Exchange South Africa forged ahead at the start on Wednesday, led by heavyweight rand hedge stocks. This followed the rand's depreciation above the 8,90 to the dollar level and warnings by currency traders that the rand was heading back above 9 to the greenback.
The South African rand was little changed against major currencies late Tuesday morning compared with its previous close. Dealers said the market had been characterised by good two-way trade, which had seen the rand trade in a range of between 8,59 and 8,65 to the US dollar.
Siemens Telecommunications said on Friday it had appointed a task team to conduct an internal audit to establish whether any current or former Siemens employees may have provided unauthorised assistance to two of the bidders for the country's Second Network Operator licence.
The JSE Securities Exchange South Africa (JSE) retreated into the red at the start on Thursday in fairly quiet trade. The opening saw a reverse of the trend over the past two days, with gold stocks gaining ground boosted by a higher bullion price, but heavyweight rand hedge stocks slipping on the back of a firmer currency.
The South African government is investigating the taxi sector and the Minister of Labour, Membathisi Mdladlana, expects to announce a minimum wage and prescribe working conditions for the industry by July.
Computer vendor Beachware Computers CC has been ordered by the Durban magistrate's court to pay the Microsoft Corporation R243 620 in damages after Microsoft filed claims against the vendor during the middle of last year for infringing copyright laws.
South Africa's residential property market is expected to remain buoyant in 2003 after experiencing strong gains in 2002, boosted by the strengthening of the rand, expected income tax relief in February's national budget, and most importantly, forecast declines in local interest rates.