Monday, February 22, 2010.

From Creamer Media in Johannesburg, I'm Shannon de Ryhove.

Making headlines today:

South African President Jacob Zuma has ordered an external audit of state companies. This follows persistent reports of mismanagement and political meddling. He said that he wants faster action to curb corruption.

In an interview with a Sunday newspaper, Zuma said he had commissioned a private company to review the operations of all State-owned enterprises and provide solutions to their problems.

He said that the review was being done on behalf of the country and that government would be advised about what to do. He said that it was clear that there were difficulties but he said that the review would come up with something that would solve the problem forever.

Zuma pointed to state airline South African Airways and power utility Eskom, which he said had always had problems.

African Development Bank president Donald Kaberuka says that he expects economic growth in Africa to rise to 5% this year and could reach 7% in 2011.

He says that he is very optimistic of Africa's economic growth prospects for this year, and even more so for 2011.

While the global economic recession had been a set-back for most African economies last year, Kaberuka noted that much of the continent had avoided the worst effects of the recession.

Also making headlines:

South Africa's PBMR Company remains in the industrial alliance which is bidding for the second phase of the US Department of Energy's Next Generation Nuclear Plant programme.
Petroleum group BP Africa calls for a fuel-supply review before South Africa approves the construction of a new refinery at Coega.
India's Bharti Airtel lines up $9-billion in loans for the acquisition of Kuwait's Zain.
And, Anglo American considers joining an energy producer to assure its South African operations of power.

That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.