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Latest News

Technology raises SA's maize-crop estimate

22nd May 2002 South Africa’s 2001/02 maize crop estimate has risen, for the first time since the initial release of data in February, as sophisticated new methods of measuring take effect, the crop estimates body said. 

Brand manager's earnings rise 28%

22nd May 2002 South African industrial brand management group Barloworld reported a 28% jump in half-year headline earnings per share on Tuesday and said it expected to unveil good progress in full-year EPS growth. 

Poor results from SA ICT firm

22nd May 2002 JSE listed information and communications technology (ICT) group, Spescom Limited, reported a 14% decrease in revenues, generated from continued operations, from R198-million, for the corresponding period last year, to R171-million for the period under review. 

Erwin calls for economic consensus ahead of Growth Summit

By: Terence Creamer     22nd May 2002 Trade and Industry Minister Alec Erwin yesterday called for a greater degree of consensus on economic issues and the path the South African economy should take. 

Kenya allows 70% foreign control of phone firms

21st May 2002 The Kenya government said it would allow foreign investors to own up to 70% in domestic telecommunications companies to bolster investment in the sector. 

Tunisia's finance boosted by mobile licence

21st May 2002 Tunisia will be able to finance its budget and current account deficits this year thanks to a windfall of at least $877-million from the sale of a GSM phone licence and funds raised on international markets, government officials and financial analysts said. 

Stainless industry sets up database to ensure supply balance

By: Martin Zhuwakinyu     21st May 2002 A new initiative by the International Stainless Steel Forum (ISSF) entails the creation of a database to illustrate the medium- and long-term supply balance and to provide information concerning real end-user demand as well as supply-chain stock levels. 

Erwin slams US farm protectionism

By: Terence Creamer     21st May 2002 Trade and Industry Minister Alec Erwin yesterday lashed out at the US over its decision to increase protection for American farmers by $180-billion over the next ten-years. 

Annan highlights key focus areas for Joburg summit

21st May 2002 In a speech delivered by UN secretary-general Kofi Annan, water, energy, health, agriculture and biodiversity were named as key areas for action at the World Summit on Sustainable Development (WSSD) which kicks-off in Johannesburg in August . 

DRC prepares for big cellular investment

20th May 2002 When Africa’s biggest mobile operator Vodacom offered $5 of free airtime to new clients in the Democratic Republic of Congo it sparked a mini-riot. 

SA business shows keen interest in fuel-cell developments

By: Martin Zhuwakinyu     20th May 2002 These days, hardly a week passes without one company or another announcing advances in fuel-cell technology. 

Airport systems contract awarded

20th May 2002 Electronics and telecommunications company Tellumat has been awarded a multimillion rand contract from the Airports Company South Africa (ACSA) for the installation of three new Instrument Landing Systems (ILS) at Johannesburg International, Port Elizabeth International and George Airports. 

Joburg summit to spur tourism

20th May 2002 South Africa’s tourism boss said the country hoped to use a major UN summit on development to showcase its game parks, sun-soaked beaches and its own commitment to sustainable tourism. 

Resources giant approves Aussie gas project

20th May 2002 Resources giant BHP Billiton said a $137-million development of the offshore Victoria Minerva gas field would start this year, paving the way for first production in early 2004. 

UK firm seeks SA steel, aluminium partners

17th May 2002 UK firm Tyne Tube Services will be visiting South Africa as part of a trade delegation organised form July 1 to July 5. 

SA exports to Ivory Coast reaches R259m

By: Joanne Delaurentis     17th May 2002 Having returned to political and economic stability, following the coup d’ 

IMF reacts to US protectionism

17th May 2002 The US decision to impose tariffs up to 30% on steel imports is not in accord with international trade rules, IMF Deputy MD Anne Krueger said. 

Tanzania looks to sell 75% of airline

17th May 2002 Tanzania’s government said it wanted to sell a 75% stake in the State-owned Air Tanzania Corporation (ATC) as its privatisation process gains momentum. 

Big restructuring on cards

17th May 2002 Public Enterprises Minister Jeff Radebe reports that there are ten State Enterprise initiatives which should allow government to meet its target of R12-billion this year. 

Three die in steel mill accident

17th May 2002 Three men were killed and two others were injured when parts of a filtration system collapsed in South African steel producer Iscor’s hot strip mill at its Saldanha plant yesterday, the company said. 

SA to outline telecoms licence details

17th May 2002 South Africa is expected to release details today of a long-awaited invitation to foreign operators to apply for a stake in a telecoms licence to rival state-controlled utility Telkom. 

Oil firm concerned about Sudan violence

17th May 2002 Austrian oil and gas company OMV said that it was deeply concerned about reports that Sudan’s government was using violence to depopulate villages in promising oil areas racked by a 19-year civil war. 

Joburg manufacturers outline constraints

16th May 2002 Research results of a survey conducted among 346 large manufacturers in the Greater Johannesburg Metropolitan Area (GJMA) reveal that manufacturers seem relatively optimistic about future business prospects. However, this optimism is likely to erode should constraints such as crime and violence... 

Investor interest grows for SA wetland

16th May 2002 A wave of investor interest in the Greater St Lucia Wetland Park highlights the role of tourism as a peace industry. 

Lubombo project on course, say regional ministers

16th May 2002 Regional ministers from Swaziland, Mozambique and South Africa moved forward by reaffirming their joint programme to create a vibrant tourism economy in a cross-border zone between Lubombo Mountains and the Indian Ocean. 

More oil finds off Nigeria

16th May 2002 The world’s largest publicly traded oil company, Exxon Mobil, announced a new oil discovery by its Nigerian unit bearing a test rate of 5 000 barrels per day. 

US subsidies ring alarm bells for African farmers

16th May 2002 African commentators blasted a new law to protect the US farm industry, saying the legislation made a mockery of Washington's calls for the continent to embrace free trade. 

R260m for SA research projects

16th May 2002 During 2002, at least R260-million will be invested in research and development activities designed to improve the competitiveness of South African industry. Some 200 projects have been approved for science and technology research grants that range from R5 000 to R8-million. 

SA inventor punts mobile security device

15th May 2002 South African Edward Modisakgosi claims to have invented a security feature that can help mobile phone users combat rampant theft worldwide. 

Moz brushes aside attack on $520m port plan

15th May 2002 The Mozambican government said plans to build a $520-million new deep-water harbour in the south would go ahead despite protests that there were two major ports nearby and the area was environmentally sensitive. 

Big revamp for Cape's heritage strip

15th May 2002 The City of Cape Town is to invest R10-million over the next two financial years on restoring and revitalising the Grand Parade, the site of many of South Africa’s greatest historical events. 

Satellite project to support electricity roll-out

15th May 2002 Recent satellite imagery acquired over South Africa is central to a new project commissioned by Eskom Distribution to obtain information on fast-growing areas in the country, needed to meet its challenge of providing electricity to all the people of South Africa. 

Dry Angola well does not deter Norwegians

14th May 2002 Norwegian industrial group Norsk Hydro has said that the first exploration well in its 30%-owned Block 34 off Angola had proven dry, but said it would not scale down prospects for the area. 

Swedish PM says jets sale to SA is taking off

14th May 2002 Swedish Prime Minister Goran Persson said on Sunday that a planned sale of fighter jets to South Africa was running according to plan after talks with South African President Thabo Mbeki. 

Market conditions not holding back telecoms IPO

14th May 2002 Conditions in the global telecoms market were not holding back the initial public offering (IPO) of South African telecoms utility Telkom, the head of the National Treasury said on Monday. 

Local industry protests enviro boat contract

14th May 2002 AN appeal is under way to gain clarity as to why the entire scope of the 80m offshore protection vessel of the R500-million tender to supply four state-of-the-art sea fishery and environmental protection vessels to the Department of Environmental Affairs and Tourism was awarded offshore. 

Nepad drives Africa's future - Mbeki

14th May 2002 President Thabo Mbeki has told the Norwegian nation that a massive struggle against poverty, underdevelopment and socio-economic marginalisation is hotting up in Africa to turn around the continent's prospects. 

Bush signs controversial Farm Bill

14th May 2002 US President George W Bush signed a 10-year, $190-billion farm bill Monday that expands subsidies to growers, turning aside criticism from fellow Republicans who called the measure a budget-busting step backward in agriculture planning. 

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