Latest news and views in Brief
Hindsight may prove that last week South Africa got the precise Election result it needed. A still dominant ANC lost enough ground to realise that job creation has to move from the words to action phase. And to achieve this it must align economic policies with global best practice. A Developmental State that crowds out … Read more
The Democratic Alliance’s parliamentary leader Lindiwe Mazibuko is taking a year-long sabbatical to study in the US, party leader Helen Zille has told SABC news. “She’s been offered a place in perhaps the most prestigious programme in politics anywhere, which is a year masters’ in public administration at Harvard,” she told the broadcaster. The programme … Read more
The African National Congress was leading the national elections with more than 11 million votes on Friday afternoon. According to preliminary results the party had 11,181,338 votes by 3pm — 62.24 percent of the national vote. This was after 98.83 percent of counting had been completed. In 2009, the ANC won the elections with 11,650,748 votes … Read more
From SENS RCL Foods, through one of its operating subsidiaries Vector Logistics (Pty) Ltd, has entered into an agreement to acquire a 49% shareholding in Senn Foods Logistics (Pty) Ltd of Botswana, for P65.5m (R79.9m). The acquisition was subject to regulatory approvals in Botswana and South Africa, and RCL Foods is pleased to confirm that the necessary approvals have been obtained … Read more
From the SA Press Association: Agang SA leader Mamphela Ramphele committed political suicide by turning down the opportunity to lead the Democratic Alliance, as evidenced by the results, the DA said on Friday. “Mamphela has destroyed her political brand and value,” DA leader Helen Zille told reporters at the Electoral Commission of SA’s (IEC) national … Read more
As the platinum strike drags on, the affected companies are becoming increasingly innovative in seeking out ways to engage directly with their employees. Lonmin, most vulnerable of the three major miners that are affected, is betting on strike fatigue among its workers and as this story outlines, is looking at by-passing the trade union. Lonmin, … Read more
Altron shareholders have been advised that on 9 May 2014, Bytes SA, a subsidiary of Altron, entered into an agreement (“share repurchase agreement”) whereby Bytes SA will, as one indivisible transaction, acquire a 27% equity interest in the issued share capital of Bytes SA for R669,190,000 by way of a share repurchase. The acquisition will become effective on … Read more
By Katharina Urban-Oberberg LONDON (Reuters) – Hollywood actress Angelina Jolie, in London to promote her new film “Maleficent,” used the red carpet event on Thursday to renew her plea for the safe return of more than 200 Nigerian school girls kidnapped by Islamist rebels. The 38-year-old actress, who serves as a United Nations special envoy … Read more
Net 1 UEPS Technologies, Inc. reports its third quarter 2014 results, here are some extracts from the SENS report. Highlights: Revenue and Fundamental EPS of $138 million and $0.47, a constant currency increase of 60% and 1,070%Â respectively; BEE transactions implemented after quarter-end, and 4.4 million shares issued to BEE partners. Net1 has held a controversial … Read more
ArcelorMittal, the industrial metals and mining company, with a current Market Cap of R17.8 billion, has released unaudited results for quarter 1 ended 31 March 2014. Highlights from the results: Steel sales volume up 5% versus Q1 2013 Positive EBITDA of R754 million Positive headline earnings of 81 cents per share ArcelorMittal stated that, “Liquid … Read more