This podcast is brought to you by BMG - South Africa's finest source of quality engineering components and expertise.

Tuesday, August 25, 2009.

From Creamer Media in Johannesburg, I'm Jonathan Faurie.

Making headlines today:

African leaders will ask rich nations for $67-billion a year to mitigate the impact of global warming on the world's poorest continent, according to a draft resolution seen by Reuters on Monday.

Ten leaders are holding talks at African Union (AU) headquarters in Addis Ababa to try to agree a common stance before a UN summit on climate change in Copenhagen in December.

Experts say Africa contributes little to the pollution blamed for warming, but is likely to be hit hardest by the droughts, floods, heat waves and rising sea levels forecast if climate change is not checked.

A US-based private equity fund plans on doubling its investments in South Africa by year-end as it seeks investment opportunities across Africa during the global economic downturn.

International Housing Solutions managing partner Soula Proxenos says that international investors, which are under exposed here, are very attracted to the opportunities that affordable housing in Africa presents.

She adds that the fund hopes to find projects in Africa, mostly in South Africa, where it will invest in excess of R1,5-billion over the next 18 months to 24 months. The fund further intends launching a successor fund that will be Pan-African, in the region of about $400-million.

Also making headlines:

Progress in the South African labour market is slow in achieving employment equity.

The Department of Trade and Industry gazettes broad-based black economic-empowerment transport sector codes.
Eskom postpones projects worth R7bn.
And, Nashua buys 60% stake in Nashua Central for R50-million.

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