Wednesday, August thirteen, 2008.
From Creamer Media in Johannesburg, I'm Shannon O'Donnell.
Making headlines today:
An industry advisory firm said on Tuesday that Africa's telecommunications industry will shift from being mainly market-driven to being more policy driven. This is as certain regulatory steps could improve Internet and broadband access.
BMI TechKnowledge said that, while Africa's mobile market had been growing, Internet and broadband penetration rates remained low. Also, regulatory interventions could bring down prices, make services available and enable growth.
However, telecommunications research director Brian Neilson said that Africa could experience a bandwidth oversupply if all the planned submarine fibre-optics cables were to come on stream.
He explained that these cables were designed with a combined capacity of ten terabits a second, while demand from Africa was only expected to reach two terabits a second by 2019.
Freight logistics group Transnet has included an option to possibly extend the procurement for 212 diesel locomotives to 400. The group is reportedly challenging tender negotiations with Electromotive Diesel for the locomotives valued at more than R6-billion.
CEO Maria Ramos says the tender process is well under way for the 212 diesel locomotives. She says any enlargement will be pursued on the basis of a supportive business case.
It is unclear as to what such a move would mean for the group's R80-billion, five-year capital-investment programme. The group will need to raise R36,6-billion on the capital markets over the next three years to close an anticipated funding gap.
JSE-listed Sentula Mining on Tuesday said that it was probing "the intent behind" the past management's accounting irregularities that led to the restatement of its 2007 financial results.
CEO Robin Berry told Mining Weekly Online that the company planned on publishing the findings of the internal investigation into the errors "within the next couple of weeks".
Berry said that the investigation was at a "sensitive stage". He was reluctant to comment further on it. However, he did indicate that the errors were not genuine accounting mistakes.
Also making headlines:
Bell Equipment hopes to participate in the revised MIDP
Libya signs a $300m pipeline deal with the DRC
Kenya speeds up cargo movement through Mombasa
Katanga Mining cuts its output forecasts for copper and cobalt
Gold Fields expects its new Peru mine to begin shipping concentrates next month
And, tight credit poses a bankruptcy risk to miners
In political news:
Thabo Mbeki is to report to the SADC summit on Zimbabwe
Sam Kikine accuses the CIA and MI5 of controlling the Scorpions
Guinea-Bissau's navy chief is held over coup plot escapes
And, Prince Charles warns of GMO crops 'disaster'