From Creamer Media in Johannesburg, this is the Real Economy Report.
Things seem to be looking up for State-owned defence industrial group Denel. Keith Campbell has the story.
In July, Denel released its annual results for the 2011/2012 financial year, registering a R41-million profit, achieved entirely by sales. Although this was the fifth straight year of improved results, Public Enterprises Minister Malusi Gigaba stated that the government was considering further, but not necessarily monetary, aid for the group. Against this background, Group CEO Riaz Salojee explains his vision for Denel.
Group CEO Riaz Salojee
Shannon de Ryhove:
Other news making headlines this week: Gauteng will focus on automotive partnerships to create jobs; MTN grows its profit and subscriber numbers as competition heats up; and global warming could benefit the potato industry.
The Gauteng Economic Development Department would continue to strengthen its partnerships in the automotive sector, as part of its focus on the creating jobs, while building a growing, inclusive economy.
Gauteng MEC Nkosiphendule Kolisile
Despite increasing competition in the South African telecommunications market, mobile operator MTN South Africa added 1.5-million subscribers to its network in the six months to June, and expects to add another 1.5-million by year-end.
MTN South Africa MD Karl Pienaar
Climate change could result in a positive outcome for the potato industry and could possibly lead to potatoes becoming one of the top staple crops in the world.
University of Pretoria Potato Pathology Programme manager Dr Jacquie van der Waals
That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy.