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/ 14 November 2006

Naspers to acquire Johncom stake in M-Net

Media group Naspers is to acquire Johnnic Communications’ (Johncom) 38,56% stake in pay television channel M-Net/SuperSport for a combination of Naspers shares and cash, it was announced on Tuesday. Naspers, which currently owns an effective 60,12% interest in M-Net/Supersport, will issue 20,9-million Naspers N ordinary shares and pay R250-million in cash to Johncom for the lucrative stake.

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/ 14 November 2006

SA to press on with mediating role in Burundi

South Africa will press on with its mediating role in Burundi to get the last active rebel group to sign a peace accord, Pretoria’s special envoy to the Great Lakes region said on Tuesday. "We are not throwing in the towel. We will carry on," Kingsley Mamabola told a seminar, adding that the National Liberation Forces rebel group was "the one piece left out of the jigsaw puzzle".

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/ 14 November 2006

Medical tourism stimulating SA economy

South Africa currently earns about R270-million from medical tourism, said Dr Tshepo Maaka, the managing director of Serokolo Health Tourism. Maaka said the country was increasingly being seen as a destination for medical tourism and cited factors such as its highly trained doctors, and excellent medical care.

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/ 14 November 2006

Bidvest improves BEE credentials

Listed South African services, trading and distribution group Bidvest says its black economic empowerment (BEE) credentials have again improved. Its latest Empowerdex certificate indicates that the company, which employs 78 000 workers in South Africa alone, has retained its "A" empowerment rating, with improvements in all categories, it said on Tuesday.

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/ 13 November 2006

Yengeni ‘thinks he is above the law’

The granting of a weekend pass by the Correctional Services department to fraud convict and former parliamentary African National Congress (ANC) chief whip Tony Yengeni "sends the wrong message about corruption to the South African public", says Democratic Alliance correctional services spokesperson James Selfe.

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/ 13 November 2006

The crook, the court and the political ambitions of Jacob Zuma

This week, a man described by the trial judge as ambitious, far-sighted and brazen — if not positively aggressive — in pursuit of his financial interests found that our legal system may grind slowly, but it sure grinds finely. The Supreme Court of Appeal handed down a judgement that in its fine attention to detail exposed Schabir Shaik, not only as a ruthless crook, but also as the person who may have destroyed the political ambitions of Jacob Zuma.

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/ 13 November 2006

A bad week for fascists

Of course the word going around when the death of former president PW Botha was announced was: “How could they tell anyway?” The invincible old crocodile had been lounging around at his place in the Wilderness virtually unseen by human eyes, except for his youngish new wife, who popped up from time to time to say that he was not only fit and well but had healthy sexual appetites to boot. She was around to prove it.

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/ 13 November 2006

A silent crime in the mines

Workers’ skeletons litter the mines of this land. Many of those killed underground were never retrieved; their families never had the opportunity to bury them decently, according to African rituals and tradition. In the worst disasters the recovered mineworkers are often unidentifiable and those families that insist on remains for ritual burials risk interring the wrong body.

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/ 10 November 2006

Police dogs receive medals for bravery

The police need more dogs for the 2009 general elections and the 2010 Soccer World Cup, police Deputy National Commissioner Mala Singh said on Friday. She was speaking at a ceremony where four Star of Bravery medals were awarded to police dogs. Of the four, only one was still alive to receive the medal.

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/ 10 November 2006

Ramatlhodi’s ‘reward’

Former Limpopo premier Ngoako Ramatlhodi received a R100 000 payment from a businessman whose company won multimillion-rand tenders from his government, the Scorpions have alleged. This is just one of a range of cash benefits that allegedly flowed to him after a R750-million pensions administration contract was awarded to Cash Paymaster Services.

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/ 10 November 2006

Who is Viktor Vekselberg?

Viktor Vekselberg, the 48-year-old Russian oligarch, is not known for his corporate ethics. Described by <i>Forbes</i> as a "deal junkie", Vekselberg is ranked the third-richest Russian and the 44th richest person in the world by the magazine. His net worth is about $10-billion, accumulated predominantly through metals and oil.

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/ 10 November 2006

The problem with ANC Inc

First oil. Now manganese. This week we reveal the second major funding front set up by the ruling ANC. The party is clearly behind Chancellor House, an empowerment holding company that has won a stake in manganese mining rights with a potential value of R1-billion. It is part of a consortium chasing a R26-billion power station tender, and has lesser stakes in many other businesses.

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/ 9 November 2006

A road map for the case against Zuma

"I can’t believe it," Shabir Shaik reportedly exclaimed after the Supreme Court of Appeal (SCA) dismissed his petition against conviction on two counts of corruption and one of fraud. "Boom, boom, boom; one, two, three: they didn’t uphold anything. All the lawyers were wrong about what was going to happen."

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/ 9 November 2006

New book spooks Leon

Tony Leon has threatened to launch a libel lawsuit against a British historian who raised questions about his proximity to the apartheid intelligence establishment during his time as a conscript in the defence force. James Sanders, a London-based researcher, has sent Leon draft pages of his forthcoming book, <i>Apartheid’s Friends: The Rise and Fall of South Africa’s Secret Service</i>.

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/ 9 November 2006

FNB moots abolition of Saswitch fees

First National Bank (FNB), a division of the FirstRand Group, on Thursday tabled an industry proposal that would save customers more than R500-million annually in Saswitch fees. The bank is seeking guidance from the Competition Commission, which is conducting an enquiry into banking, on how best to achieve this goal.

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/ 8 November 2006

JSE still going strong after 119 years

Africa’s biggest stock market, the JSE, celebrated its 119th anniversary on Wednesday. The exchange was born in a humble miner’s tent in 1887, a mere year after the gold rush hit the Witwatersrand. It created an economic crucible in an infant Johannesburg and, in the 119 years since then, this has not changed.

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/ 8 November 2006

Card tricks

Although credit and debit cards are more convenient and safer than cash, you still have to be vigilant to protect your card from criminals. According to FNB Credit Card CEO Jan Kleynhans, there are more than four-million FNB credit and debit cards in circulation in South Africa. Of these, about 10 000 credit cards are reported lost or stolen every month.

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/ 8 November 2006

Educators, please don’t give up

In the year 2006 we have received clear signals from you, our readers, about the things that irk, worry and upset you as you go about your day-to-day duties. As we mentioned before in this space, we picked up a message from teachers that they are miserable about their earnings.

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/ 7 November 2006

Moneyweb to move listing to AltX

Moneyweb Holdings Limited has been granted approval by the Johannesburg Stock Exchange to move its listing from the media sector to the AltX. The switch, which takes place on Wednesday, will be one of the more prominent JSE main-board companies whose listing has moved to the booming AltX.

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/ 7 November 2006

Airport profitability highlighted at conference

Over 500 delegates from more than 80 countries are gathering in Cape Town for the Airports Council International Africa Regional Conference and annual general assembly. The theme of this year’s conference is "Airports mean business" and according to ACI director general, Robert Aaronson, it provides delegates with an opportunity to share perspectives.

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/ 7 November 2006

Phaswana takes the helm at Angloplat

Fred Phaswana has succeeded Barry Davison as chairperson of Anglo Platinum, the company said on Tuesday. Sixty-one year old Phaswana has had extensive experience in the resources industry, having worked for BP in a number of countries and capacities in both Africa and Europe since the 1960s.

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/ 7 November 2006

Pension payouts after divorce

I have been divorced for 13 years after a marriage of 23 years. I was allocated 25% of my husband’s provident fund on his retirement. In spite of his next birthday being his 60th, there is no option of his retirement or resignation from his current employment. Please advise me about how I might get "ownership" of my 25% share of his provident fund.