JOHANNESBURG, April 3 (Reuters) – South Africa’s Adcock
Ingram named an industry newcomer and veteran executive
from its biggest shareholder as its new chief executive on
Thursday, an appointment aimed at turning around the fortunes of
the country’s No.2 drugmaker.
The appointment of Kevin Wakeford followed the widely
expected resignation of Jonathan Louw this week, whose
leadership of the struggling firm had been criticised by top
shareholder Bidvest Group.
JOHANNESBURG (Reuters) – An executive director of South Africa’s Pinnacle Holdings has been charged with offering a $460,000 bribe to a senior police official in an attempt to win an equipment deal for the technology company, police said on Tuesday.
Takalani Tshivhase allegedly offered the 5 million rand bribe to a lieutenant general in the South African Police Service (SAPS) to secure a multi-million rand contract for devices used in police investigations, SAPS said.
JOHANNESBURG (Reuters) – South Africa’s main opposition party laid criminal charges against President Jacob Zuma on Thursday, accusing him of “flagrant abuse” of public money over $23 million in upgrades to his home that included a swimming pool and a cattle enclosure.
The Democratic Alliance (DA) filed eight charges of corruption against Zuma at a police station near his Nkandla homestead, a party spokeswoman said.
SOWETO, South Africa, March 10 (Reuters) – Zakes Hadebe’s
minibus taxi has nearly half a million kilometres on the clock,
a broken speedometer and a fuel gauge he struggles to keep just
Yet by 8 a.m. on a recent Friday, Hadebe and his rattling
Toyota had already overcome rain, traffic and an ever-rising
petrol price to ferry nearly 40 commuters from South Africa’s
black township of Soweto to nearby Johannesburg.
PRETORIA (Reuters) – “Blade Runner” Oscar Pistorius pleaded not guilty on Monday to murdering his girlfriend at the start of a trial with massive media cover that could see one of global sports’ most admired role models go to jail for life.
When asked how he would plead to the charges of the “unlawful and intentional killing” of 29-year-old model Reeva Steenkamp on Valentine’s Day last year, a somber-looking Pistorius told judge Thokozile Masipa: “Not guilty, my lady.”
JOHANNESBURG, Feb 22 (Reuters) – South Africa’s Naspers Ltd
named company newcomer Bob van Dijk as chief
executive, looking to tap his expertise in e-commerce in line
with a strategy that has already transformed it into an emerging
markets force worth nearly $50 billion.
The company said in a statement on Saturday that Chief
Executive Koos Bekker would step down in April after 17 years of
explosive growth that turned the Cape Town company into one of
the world’s most valuable media and internet firms.
JOHANNESBURG, Feb 9 (Reuters) – For corporate South Africa,
the tumbling rand has been both a blessing and a curse: a
windfall for mining houses, it has also saddled domestic
manufacturers and retailers with higher costs and weaker
The currency free fall has left a raft of companies -
including mobile operator Vodacom and the local arm of
Toyota Motor Corp – scrambling to contain the damage.
The government says it may even need to step in to support
JOHANNESBURG, Feb 7 (Reuters) – Chile’s CFR Pharmaceuticals
dropped a $1.2 billion bid for South Africa’s Adcock
Ingram on Friday, paving the way for Adcock’s largest
shareholder to overhaul the underperforming drugmaker.
CFR’s defeat was widely expected after South Africa’s
Bidvest Group lifted its Adcock stake to over 34
percent last month, giving it enough to vote down the deal.
JOHANNESBURG, Jan 31 (Reuters) – Brian Joffe, the
hard-headed South African entrepreneur whose empire spans ships
to mops, has a favourite saying: “Why go into business to test
the waters? Go in to make waves.”
The 66-year-old son of Lithuanian immigrants made another
splash this week when he fended off a rival bid for
Johannesburg’s Adcock Ingram after months of jostling
for control of the drugmaker.
JOHANNESBURG, Jan 29 (Reuters) – Standard Bank said
it would sell a 60 percent stake in its London-based global
markets unit to China’s ICBC for $765 million, as
Africa’s top lender scales back operations outside the
The cash deal announced on Wednesday also highlights the
growing global ambitions of Industrial and Commercial Bank of
China (ICBC), as well as China’s appetite to trade commodities
in addition to consuming them.