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May 27, 2008

Daily Podcast – May 27, 2008

May 27 2008
© Reuse this Tuesday, May twenty-seven, 2008.

From Creamer Media in Johannesburg, I'm Shannon O'Donnell.

Making headlines today:

South Africa's biggest mobile phone operator, Vodacom Group, reported strong growth in profit for the year ended March, Telkom said on Tuesday.

Telkom said its mobile unit Vodacom had 34-million customers by the end of the period and that its earnings before interest tax and depreciation rose 15% to 16,5-billion rand.

The world's largest mobile phone group by revenue, Vodafone, owns a 50% stake in Vodacom, with the remainder held by Telkom, Africa's largest fixed-line telephone operator.

South Africa's MTN Group has started talks with Indian mobile operator Reliance Communications that could create a 66-billion dollar emerging markets telecoms group.

Indian number two Reliance quickly stepped into the void after bigger rival Bharti Airtel pulled out of talks with MTN at the weekend aimed at taking control of sub-Saharan Africa's biggest mobile operator.

A combination of MTN, valued at 38-billion dollars, and Reliance, valued at 28-billion dollars, would create a top ten global industry player to rival Japan's NTT DoCoMo Incorporated in market value. In terms of subscribers, a merged group would slot in just below Deutsche Telekom - as the seventh biggest in the world.

Water Affairs and Forestry Minister Lindiwe Hendricks on Monday signed a memorandum of agreement with 23 mining houses in Limpopo province for the development of the second phase of the Olifants River Water Resources Development Project, which would be funded through private and State funding.

The Department of Water Affairs and Forestry said this agreement had secured the 7,4-billion rand water supply project to Limpopo province, of which the De Hoop Dam was a large component.

The project would ensure a sustainable supply of water for mining and commercial use, as well as for public use.

Also making headlines:

Green Scorpions target cement producers in latest compliance campaign
ArcelorMittal South Africa opens new rod mill in Mozambique
Telkom restructuring could affect 19 000 jobs, says union
CIC Energy warns of further delays to Botswana power project
Assmang denies claims that Cato Ridge workers suffer from manganism
And, Botswana economy to benefit from new African commodities exchange

In political news:

US candidates ponder Iraq strategy
South African xenophobic violence under control
Ethiopian court sentences Mengistu to death
And, French president Nicholas Sarkozy says he will keep 35-hour work week

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


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