Friday, January 8, 2010.
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.
The South African Chamber of Commerce and Industry said that business confidence would likely reach a higher average this year, after reaching a seven-year low in 2009. Business confidence had shown considerable volatility in 2009.
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.
Also making headline:
JSE-listed civil engineering and construction firm Sanyati Holdings may sell its road-surfacing business.
Zambia is to build a new hydro power plant.
Morocco will invite bids for construction of its first solar power station at the end of next month.
And, Transnet's 2,4-billion-rand diesel locomotive contract includes a localisation plan.
That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.