Jan 08, 2010
Daily podcast – January 8, 2010Back
Construction|Engineering|Johannesburg|Congolese Wireless Networks|Diesel|Road|Sanyati Holdings|Transnet|Vodacom Congo|Congo|Morocco|Zambia|USD|Amicable Solution|Alieu Conteh|Power|Sacci|Vodacom|Locomotive|Diesel
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From Creamer Media in Johannesburg, I'm Brindaveni Naidoo.
Making headlines today:
Congolese Wireless Networks will follow through with a lawsuit against partner Vodacom if the South African company refuses to ease fee requirements in their Congo joint venture contract.
CWN chairperson Alieu Conteh says that courts are the last resort, and that there is a window for negotiations.
CWN owns a 49% stake in joint venture Vodacom Congo. It has threatened to take Vodacom to court for at least 180-million-dollars in a long-running dispute over fees, which it says have brought the partnership to the edge of bankruptcy. The dispute includes those fees to guarantee loans.
Vodacom, which owns the remaining 51% of Vodacom Congo, said earlier this week that it would defend itself against any legal action in the central African nation and that it would look for an amicable solution to the dispute.
Reporting on the results of its Business Confidence Index for December, which fell by 0,6% month-on-month, Sacci noted that the index seemed to have lost momentum since achieving its highest level for 2009 of 85,5 points in September.
The index had been moving laterally since and recorded an average of 82,8 points for the full year, the lowest annual figure since 2002.
JSE-listed civil engineering and construction firm Sanyati Holdings may sell its road-surfacing business.
That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.
Edited by: Shannon de Ryhove© Reuse this Comment Guidelines (150 word limit)
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