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Jan 25, 2010

Daily podcast – January 25, 2010

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Monday, January 25, 2010.

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

Making headlines today:

South African power utility Eskom's former chief executive, Jacob Maroga, is suing the company for 85-million-rand for wrongful dismissal.

Local newspaper the Sunday Times said that Maroga had filed a civil claim for all payments due under a five-year contract that should have run until 2012, including pay, incentives and other benefits.

Eskom confirmed in November that Maroga was no longer CEO after a protracted leadership tussle. The compnay is struggling to raise billions of rand to pay for an expansion programme to add capacity and ease a national power shortage.

The company had earlier said he had resigned but Maroga denied this.

Eskom said on Sunday that it was aware of the claim and would oppose it.

The World Steel Association reports that global steel production decreased by 8% in 2009, when compared with 2008, reaching only 1,2-billion tons.

Steel production declined in nearly all the major steel producing countries and regions including the European Union, North America, South America and the Commonwealth of Independent States in 2009.

However, Worldsteel noted that Asia, and in particular China and India, as well as the Middle East showed positive growth in 2009.

Also making headlines:

State power utility Eskom would be able to raise up to R100-billion from the sale of three existing generation assets.
Top officials in South Africa's ruling ANC are pushing for the state to take over ownership of the country's central bank.
Toyota may introduce a smaller, cheaper Prius model.
And, Volkswagen South Africa launches a new South African-made Polo

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


Edited by: Shannon de Ryhove
Creamer Media Senior Deputy Editor Polity & Multimedia
© Reuse this Comment Guidelines (150 word limit)
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