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Wednesday, April 8, 2009.
From Creamer Media in Johannesburg, I'm Shannon O'Donnell.
Making headlines today:
On Tuesday, Deputy Trade and Industry Minister Dr Rob Davies said that unless South Africa and its State-owned enterprises started to meet the target of reducing the imported component of the country's 787-billion-rand, three-year infrastructure projects by 10%, the programmes themselves could become unsustainable.
Davies argued that, while South Africa had set a specific target of reducing "import leakage" associated with these projects from 40 to 30%, too little was being achieved.
He said that the new administration, which would be assembled following South Africa's April 22 election, would need to give greater priority to localisation efforts.
Deputy Trade and Industry Minister Dr Rob Davies:
By June this year, General Motors South Africa would employ half the number of people it had on its payroll in 2007.
General Motors African operations president and MD, Steve Koch, said that the company had seen one thousand people leave last year on the back of a voluntary retrenchment deal. Another 700 people would follow this year.
He added, however, that GMSA's reduction in head-count had nothing to do with GM's financial woes in the US, but rather with a sharply declining home market.
The local vehicle market had been in decline for the last 27 months.
Also making headlines:
South Africa mulls over a protectionist response to the global crisis.
African nations create a common fund to pool investment resources for developing the energy and transport sectors on the continent.
The A400M delays force France to its consider options.
And, steel producer ArcelorMittal South Africa buys a stake in a coal producer.
That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.