(Mail & Guardian 06/24/13)
The notion that SA will dissolve into race riots at the news of Nelson Mandela’s death is so unlikely as to be ridiculous, writes Verashni Pillay. Madiba, at the end of his life, will do the same thing he did through out - bring us closer together. News that our beloved former president Nelson Mandela's health has been downgraded to critical has left South Africans preparing for the inevitable. On Sunday night people started recounting their favourite memories of the icon on social media, as if to ease themselves into the process of mourning him when he leaves us – an event that draws closer every day. We are in the third week of his hospital stay, again for a...
(Mail & Guardian 06/24/13)
Although Agang SA has remained reserved on rumoured plans to form a coalition, other parties say they are meeting with its leadership. Dr Mamphela Ramphele’s political party Agang South Africa is but two days old, but the possibility of it entering an alliance with the Congress of the People (Cope) and the United Democratic Movement (UDM) ahead of the 2014 national elections is already being vaunted behind closed doors. While there is "nothing concrete to write home about" regarding the nuts and bolts of a possible coalition between the three parties, UDM leader Bantu Holomisa said on Sunday the parties held a meeting in May, and another meeting is on the cards for mid-July. Agang SA was launched at an...
(Mining Weekly 06/24/13)
JOHANNESBURG – South Africa's chamber of mines expects to begin wage talks in the gold sector with the National Union of Mineworkers and two other small unions from early July, it said on Friday. The NUM has already submitted wage demand increases as high as 60% and this year's negotiations are expected to be among the toughest ever, with worker militancy on the rise and commodity prices falling, further pressuring company margins. According to the chamber, the NUM represents about 64% of the gold sector's workforce. The chamber, which bargains collectively on behalf of the country's main gold producers, will also hold talks with two small unions representing mostly skilled workers. The Association of Mineworkers and Construction Union (AMCU), which...
(Mail & Guardian 06/24/13)
US President Barack Obama's upcoming visit to South Africa has been condemned by some trade unions, political parties and civil society bodies. US President Barack Obama. "We categorically make it known that the visit of the US president to South Africa is an unwelcome visit that will be protested, picketed and resisted by all justice and peace-loving peoples of this country," the organisations said in a joint statement on Sunday. "Friendship with South Africa must be based on values of justice, freedom and equality, and these the US has offended, undermined and ridiculed through its actions in the global front," they said. The statement was issued by the National Unions of Metalworkers of South Africa, the South African Communist Party,...
(Voice of America 06/24/13)
JOHANNESBURG — Anti-apartheid icon and former South African president Nelson Mandela is in critical condition after more than two weeks in a Pretoria hospital. South Africa President Jacob Zuma made the statement Sunday night. Mandela is now 94 years old and has been suffering from a lung infection. Presidential spokesman Mac Maharaj says Mandela's condition has deteriorated in the last 24 hours. He was admitted to the hospital on June 8. It is his fourth hospitalization since December. Maharaj did not give any specific details of the anti-apartheid icon's condition, aside from classifying it as critical. Maharaj referred to Mandela by his clan name, Madiba. "The medical team have briefed President Jacob Zuma who was accompanied by the ANC deputy...
(BBC News Africa 06/24/13)
As a new political party is officially launched in South Africa, nearly two decades after the end of apartheid, the BBC's Karen Allen assesses its chances of success. "They steal from us so how can we vote for them," complains Kaiser Kangwana of the African National Congress (ANC), whose leaders in the Eastern Cape province have been mired by allegations of corruption. Mr Kangwana, who sweated it out working in the mines for many years, is now among the disillusioned voters which Dr Mamphela Ramphele's new party hopes to woo. Mr Kangwana's well-worn ANC hat belies the fact that he is a disappointed man. "People don't have jobs, they're still poor around here," he shrugs. The new party, which the...
(Reuters (Eng) 06/24/13)
(Reuters) - South Africans appeared resigned on Monday to the inevitability of one day saying goodbye to former president Nelson Mandela after the 94-year-old anti-apartheid leader's condition in hospital deteriorated to critical. Madiba, as he is affectionately known, is revered among most of South Africa's 53 million people as the architect of the peaceful 1994 transition to multi-racial democracy after three centuries of white domination. However, with his latest hospitalization - his fourth in six months - a realization has set in that he will not be around for ever. His deterioration this weekend, two weeks after being admitted in a serious but stable condition with a lung infection, has caused a perceptible switch in mood from prayers for recovery...
(AFP (eng) 06/24/13)
JOHANNESBURG, June 24, 2013 (AFP) - Nelson Mandela was critically ill in hospital on Monday after his condition suddenly deteriorated, leaving South Africans anxiously awaiting the latest news of their revered anti-apartheid icon. "The condition of former president Nelson Mandela, who is still in hospital in Pretoria, has become critical," presidential spokesman Mac Maharaj said in a statement late Sunday. The frail 94-year-old was admitted to hospital over two weeks ago, in the early hours of June 8, for treatment for a lung infection. But after intensive treatment at Pretoria's Mediclinic Heart Hospital and some signs of improvement, his condition deteriorated. President Jacob Zuma visited Mandela on Sunday evening and was told by doctors "that the former president's condition had...
( 06/24/13)
Training and education are vital for moving towards a green economy, Deputy President Kgalema Motlanthe said. "Investment in skills development should be at the centre of our attempts to build a green economy," he said at a Green Economy National Youth Summit in Cape Town. "All these efforts and initiatives should be aligned to prioritising localisation of energy products and services." He said focus areas for training and capacity building included energy auditing, manufacturing, installation, and maintenance. Motlanthe said efforts on the green economy tended to be focused on creating jobs and the problems of poverty, unemployment, and inequality. "Poverty is the most urgent challenge because it is the daily reality of many South Africans," he said. "We must therefore...
(Ventures-Africa 06/24/13)
VENTURES AFRICA – South Africa’s clothing retailer Foschini Group at the weekend said that it will continue to hold on to its 55 percent stake in RCS, its consumer finance business, according to BD Live. It made this statement after seemingly failing to sell RCS as no buyers were forthcoming. Last year, the clothing retailer said it was keen on lowering this shareholding to less than 50 percent through a sale or independent listing on the JSE. The clothing retailer runs South Africa’s sports clothing retailer Totalsports and jewellery giant American Swiss. The restructuring of RCS would have cut Foschini Group’s financial liabilities and allow it other financing choices. RCS offers its clients personal, insurance and home loans “through its...
(Bloomberg 06/24/13)
South Africa’s antitrust body fined 15 construction companies a combined 1.46 billion rand ($140 million) after an almost four-year investigation into price fixing and collusion in the industry. Murray & Roberts Holdings Ltd. (MUR), the country’s biggest construction company by market value, was fined 309 million rand while Aveng Ltd., the second-biggest builder, will pay 307 million rand, Competition Commissioner Shan Ramburuth told reporters in Pretoria today. Wilson Bayly Holmes-Ovcom Ltd. was fined 311 million rand and Stefanutti Stocks Holdings Ltd. (SSK) 307 million rand. Group Five Ltd. was among three companies yet to agree to a settlement. “It is the biggest collective fine” given to companies in South Africa, Ramburuth said. Antitrust regulators identified 300 cases of illegal or...
(Business Day 06/24/13)
THE Competition Commission says the poultry sector in South Africa may be a "good candidate" for a market inquiry — one similar to that the commission is about to embark on in the private healthcare sector. Trudi Makhaya, deputy commissioner of the commission, said that under the amended Competition Act it may conduct formal inquiries into the state of competition in any market where it believes some features may prevent, distort or restrict competition. "The poultry sector is one that the commission will consider during its upcoming strategic planning process for the 2014-18 period." The commission can summons people to appear before an inquiry and demand evidence. It outlines the powers of the presiding officer at hearings and deals with...
(Business Day 06/24/13)
MINISTER in the Presidency Trevor Manuel has been fending off criticism of the National Development Plan (NDP), saying it was never meant to be a "perfect document" but the country could not afford to wait for the "perfect moment" to implement the initiative — therefore it had to start now. The plan is under fire by African National Congress (ANC) allies, the Congress of South African Trade Unions (Cosatu) and the South African Communist Party (SACP), which have taken serious exception to the NDP’s chapter on the economy. The allies’ stance complicates matters for the ruling party, which endorsed the NDP at its Mangaung national conference. President Jacob Zuma said at last month’s national executive committee meeting that the plan...
(Reuters (Eng) 06/22/13)
(Reuters) - Former South African president Nelson Mandela remains in a "serious but stable" condition in hospital, the government said on Saturday. Consistent with previous updates from the presidency, the statement shows that the 94-year-old anti-apartheid hero's health is little changed since his admission to a Pretoria hospital two weeks ago. Mandela, who became South Africa's first black president in 1994, was rushed to a Pretoria hospital early on June 8 with a recurring respiratory infection. The presidency also confirmed that the intensive care ambulance carrying former South African president Nelson Mandela to hospital two weeks ago broke down. Media reports said he was stranded for 40 minutes. Presidential spokesman Mac Maharaj said the former president was transferred to another...
(AFP (eng) 06/22/13)
JOHANNESBURG, June 22, 2013 (AFP) - The ambulance that rushed Nelson Mandela to hospital two weeks ago broke down and another had to be called, but the mishap did not endanger the anti-apartheid hero, the South African presidency said Saturday. "All care was taken to ensure that the former president's medical condition was not compromised by the unforeseen incident," presidential spokesman Mac Maharaj told AFP. The ambulance had engine trouble on its way from the 94-year-old Mandela's Johannesburg home to a specialist heart clinic in Pretoria, some 55 kilometres (30 miles) away. Doctors are "satisfied" that Mandela, who is battling a serious lung infection, suffered no harm during the wait for a replacement ambulance, Maharaj said. Maharaj said the "fully...
(AFP (eng) 06/21/13)
South Africa's peace icon Desmond Tutu on Friday welcomed renowned anti-apartheid activist Mamphela Ramphele's entry into opposition politics. "Few thinking South Africans would not welcome the entry into South African politics of someone of the calibre, background, intellect and resourcefulness of Mamphela Ramphele," said Tutu in a statement. A former World Bank managing director and medical doctor, Ramphele, will launch her political party Agang on Saturday to challenge President Jacob Zuma's ruling African National Congress (ANC) in 2014 polls. "If Dr Ramphele formally enters the election race next year, and goes on to attract sufficient votes to become a parliamentarian, there is no doubt that South Africans will benefit from her experience and her knowledge," Tutu added. Tutu, a Nobel...
( 06/21/13)
Black economic empowerment (BEE) is not only a political and social necessity in redressing the wrongs of South Africa's past, but is also crucial to broadening economic participation and so contributing to economic growth, says Trade and Industry Minister Rob Davies. Davies was briefing journalists in Cape Town on Thursday before the debate on the Broad-based Black Economic Empowerment (BEE) Amendment Bill in Parliament. "As we bring people into the economy those people become consumers ... but also they become involved as producers and contributors to the development of the wealth of the country." Davies said the growth in South Africa's automotive sector, for instance, could be attributed to new entrants in the market. He said the intention of the...
(Bloomberg 06/21/13)
And Treasury says it will work with Libyan authorities to locate more. South Africa has identified investments made on a “commercial basis” by the Libyan government domestically, including the Michelangelo Towers in Johannesburg. South Africa’s government will work with Libyan authorities to locate other assets, Finance Minister Pravin Gordhan said today in an e-mailed statement. The Libyan government will have to decide what it wants to do with the assets and funds, he said. Libya wants overseas assets to be returned to help replenish its sovereign wealth fund. The Libyan Investment Authority’s value has dropped to about $57-billion from $61-billion in 2008, according to Mohsen Derregia, the outgoing head of the fund. Former President Muammar Gaddafi, who ruled Libya for...
(Ventures-Africa 06/21/13)
VENTURES AFRICA – Africa’s richest man and president of the Nigerian Stock Exchange NSE, Alhaji Aliko Dangote has been hailed as the force behind the record gains at the stock market over the past one year. The stock market has recorded gains in excess of N5 trillion ($31 billion) – growing from 2012′s total market capitalization of N6.7 trillion ($41.6 billion) to 2013′s N11 trillion ($68.3 billion) – all under the leadership of the Nigerian businessman. Dangote was initially elected as the 17th president of the stock exchange in 2009, only for it to be nullified by Federal High Court in Lagos in March 2010. He was, however, re-instated by a court of appeal’s verdict on June 15 2012, which...
(Bloomberg 06/21/13)
The rand’s plunge may boost the value of currency futures traded on the Johannesburg Stock Exchange to a record as investors buy the contracts in “panic” amid an emerging-markets sell off, said a bourse official. The rand, the worst performer against the dollar this year among 16 major currencies tracked by Bloomberg, lost 1.5 percent this month. It weakened 3 percent in the past four days and was 0.5 percent lower at 10.2356 per dollar by 3:02 p.m. in Johannesburg. The generic three-month rand contracts traded 3 percent higher at 10.6204 per dollar, signaling that investors expect further depreciation for the currency. Trading rose to 36 billion rand ($3.5 billion) this month through June 19 and should “supercede” the 41.7...