Valued at R34-billion, or ,4-billion — more than dollar billionaire Patrice Motsepe’s empire — Royal Bafokeng Holdings, the investment arm of the Royal Bafokeng Nation, has added about R2-billion to its asset base through its recent BEE deal with Vodacom.
The Movement for Democratic Change may seem hopelessly undecided about whether to fight or boycott the presidential run-off against Robert Mugabe, but sources confirm it will go to the polls in a run-off election, the date of which still has to be announced.
Allegations that the Gauteng Transport Department (Gautrans) owed commuter bus operators payments as far back as June 2007, were untrue, the department said on Thursday. ”Hence, the department strongly condemns any attempts aimed at causing uncertainty and divisions within the bus industry.”
The Department of Health and the Department of Water Affairs are still collecting door-to-door information on the outbreak of diarrhoea in the Eastern Cape which cost 78 children’s lives, the provincial government said on Thursday. Spokesperson Papama Mfenyana said the province was still waiting for information from the team on the ground.
Suspended prosecuting head Vusi Pikoli considered ”unconstitutional” an instruction by Justice and Constitutional Development Minister Brigitte Mabandla not to pursue warrants of arrest for police National Commissioner Jackie Selebi. This was evidence on Thursday in the Ginwala inquiry’s hearing into the fitness of Pikoli to serve as National Director of Public Prosecutions.
Bones collected from an Eastern Cape farm suspected to be that of the Pebco Three will be examined, the National Prosecuting Authority (NPA) said on Thursday. The NPA said it found around 12kg of bone material, identified out of 250kg of burnt material.
Presidency Director General Frank Chikane made conflicting statements about his treatment at the hands of the National Directorate of Public Prosecutions (NDPP), the Ginwala commission heard on Thursday. Chikane earlier told the hearing into whether suspended National Prosecuting Authority head Vusi Pikoli was fit to hold office, that he had been treated badly by the NDPP.
South Africa should be prepared to intervene in the foreign exchange market to keep its currency stable and ”competitive”, and should maintain its inflation targets, a group advising the government said. In its report released on Thursday, an international panel — known as the Harvard Group — also suggested a budget surplus of between 1% and 2% to help ease inflation.
Although crime levels were lower, most South Africans thought crime was on the increase and had lower confidence in the police, said a survey by the Institute for Security Studies. ”Since 1998 house breaking and burglary has been the most common crimes that South Africans report,” said researcher Antoinette Louw.
It is still six times less safe to fly in Africa than the rest of the world, the annual safety report by the International Air Transport Association on Thursday showed. The report illustrated that the 2007 global accident rate of 0,75 hull-losses for every million flights by Western-built jet aircraft was slightly higher than the 0,65 rate recorded in 2006.
At least 40 potential buyers have expressed an interest in Nationwide, the airline’s provisional liquidators, Alta-Tshwane Trust, said on Thursday. In a statement, the trust said the potential buyers had all insisted on full financial and operational information on the company.
A funding crunch could delay South Africa’s plans to have digital broadcasting in place for the 2010 Soccer World Cup, the chief executive of state-run telecommunications firm Sentech said on Thursday. World soccer governing body Fifa has demanded that South Africa use a high-definition digital format when it begins broadcasting the World Cup matches.
Salaries should increase on average by about 11,8% in 2008, an employment report released on Thursday shows. ”Higher inflation makes for high salary increases,” said economist Mike Schussler, who compiled the report for the United Association of South Africa trade union.
Power cuts in the winter months ahead are unlikely if the present power-saving trends continue, according to Public Enterprises Minister Alec Erwin. The overall savings target remains 10%, and the key factor is the behavioural changes that are crucial in the short-term, he told a media briefing at Parliament on Thursday.
South Africa’s manufacturing output shrunk by 1,1% year-on-year in March from an upwardly revised 3,9% expansion in February, official data showed on Thursday, partly weighed down by higher interest rates. Compared with February, manufacturing production in volume terms contracted by a seasonally adjusted 4% in March.
Nationwide’s ”arrogant” management was squarely to blame for its recent provisional liquidation, the South African Transport and Allied Workers’ Union said on Thursday. In a statement, the union said the team, led by chief executive Vernon Bricknell, had proven itself incapable of managing the airline.
Murder accused Najwa Petersen claimed repeatedly she had ”nothing to hide” when she made her first formal statement to police about her husband’s death, the Cape Town High Court heard on Thursday. She also said there had been no bad feelings between and her and her husband, Taliep, investigating officer Captain Joe Dryden said.
From Pretoria to Johannesburg in just under an hour is what Metrorail’s new Business Express service promises. The service was launched on Thursday by Transport Minister Jeff Radebe. It was hoped that the service would encourage professionals to abandon their cars and take the train to work.
Resources stocks were the main feature of the JSE by midday on Thursday, with the overall market generally flat following an overnight decline on Wall Street. At 11.56am, the JSE’s broader all-share index was up 0,12%, helped by a 1,1% rise in resources, 0,89% advance in the gold mining index and a 0,39% rise in the platinum mining index.
Newly appointed acting CEO of the South African Broadcasting Corporation (SABC) Gabriele Mampone said on Thursday that he would act as CEO of the corporation for the next 30-days. His appointment was announced on Wednesday to temporarily replace chief executive Dali Mpofu, who was suspended for apparently failing to implement decisions of the board.
JSE-listed SABMiller, one of the world’s largest brewers, has entered the Ukrainian market, the company said on Thursday. It announced that it agreed to acquire a 99,84% interest in the Ukrainian brewer CJSC Sarmat. ”We are delighted to announce the acquisition of Sarmat,” said Alan Clark, managing director of SABMiller Europe.
Jomo Cosmos’ Absa Premiership fate is in their own hands. Club owner and head coach Jomo Sono is confident Ezenkosi will beat relegation. Sono will not be pushing any panic buttons or putting any extra pressure on his players over the next 11 days when Ezenkosi’s fate will be decided after they play the other two relegation candidates.
Ajax Cape Town have opened up a two-point gap over SuperSport United at the top of the Absa Premiership log following their 3-0 trouncing of AmaZulu at the Athlone Stadium on Wednesday night. SuperSport, however, have a game in hand — they meet Moroka Swallows on Saturday evening in a must-win match.
South Africa’s economic confidence fell to a five-and-a-half year low in April, weighed down by expectations of slower growth, higher inflation and a longer cycle of tighter monetary policy, a poll showed on Thursday. The monthly survey of 20 economists showed the Reuters Econometer dived to 207,50 last month, its lowest since November 2002.
A presidential election run-off in Zimbabwe cannot take place given the current levels of violence, the head of a South African contingent of regional election observers said on Wednesday. ”We have seen it, there are people in hospital who said they have been tortured, you have seen pictures,” Kingsley Mamabolo told reporters.
Pioneer Foods and Foodcorp have been referred to the Competition Tribunal for their alleged role in a bread price-fixing cartel, the Competition Commission said on Wednesday. The two companies could be fined 10% of their annual turnover for the 2006/2007 financial year.
Harmony Gold Mining, the world’s fifth-largest gold producer, on Thursday reported the turning of its fortune. The company swung into a profit in the first three months of 2008 after several quarters of reported losses. Harmony posted a March quarter net profit of R345-million versus the December quarter’s net profit of R46-million.
It was heartbreak for Jomo Cosmos at Orkney’s Oppenheimer Stadium on Wednesday when an injury-time goal by Mamelodi Sundowns substitute Bryan Aldave plunged Ezenkosi further into the Absa Premiership relegation quagmire and earned Downs a 1-0 win.
He’s been described as science’s first real rock star and the most famous physicist never to win a Nobel Prize. He knows black holes and p-branes inside out and he’s headed for South Africa. Cambridge Professor Stephen Hawking, author of the best-selling A Brief History of Time, arrives in Cape Town this week to deliver a public lecture, his first on the African continent.
The new head of Business Unity South Africa said on Wednesday he was ”quite happy” about the country’s electricity crisis, despite the power cuts and disruption, as it will result in needed change. Brian Molefe said the problems were a ”blessing” in disguise that would force policy changes and greater reliance on alternative sources of energy.
The real reason for the suspension of National Director of Public Prosecutions (NDPP) Vusi Pikoli related to a criminal probe into police chief Jackie Selebi, Pikoli’s lawyers said on Wednesday. ”It was to put a spoke in the wheels of the investigation and prosecution of the police National Commissioner, Mr Jackie Selebi,” they said.
Communications Minister Ivy Matsepe-Casaburri expressed ”great concern” on Wednesday about the suspension of South African Broadcasting Corporation (SABC) CEO Dali Mpofu and head of news Snuki Zikalala. ”All will be done on [the minister’s] part to ensure the ability of the SABC to carry out its mandate,” she said.