JOHANNESBURG, Sept 14 (Reuters) – South Africa’s ruling ANC
and the country’s most powerful labour union confederation will
try to repair damaged relations at a high-level meeting to be
held in the next two months.
Labour federation COSATU said last week that its alliance
with the ANC and the South African Communist Party faced
paralysis and may even break up over policy differences.
JOHANNESBURG, Sept 14 (Reuters) – South Africa’s ruling
African National Congress and its long-time labour partners may
convene an alliance summit next month or in November, the party
and unions said in a joint statement on Tuesday.
The ANC and its labour partners had said last month they
were unable to convene a summit for fear of widening the rift
between them at a time of major labour unrest in Africa’s
JOHANNESBURG, Sept 8 (Reuters) – Aveng (AEGJ.J: Quote, Profile, Research, Stock Buzz), Africa’s
largest builder by market value, posted an 8 percent drop in
full-year profit, hit by lower demand for construction projects,
and said it would buy back up to $137 million of its own shares.
The South African construction industry avoided the worst of
the economic downturn, due to big infrastructure projects
related to the 2010 soccer World Cup.
JOHANNESBURG, Aug 31 (Reuters) – South Africa’s largest
mobile phone group Vodacom (VODJ.J: Quote, Profile, Research, Stock Buzz) is teaming up with Nedbank
(NEDJ.J: Quote, Profile, Research, Stock Buzz) to deliver a phone-based cash transfer service, similar
to a successful service operating in Kenya.
The product known as M-Pesa will initially allow users
without access to bank accounts to transfer money using their
mobile phones and eventually pay bills and buy goods.
LONDON/JOHANNESBURG (Reuters) – Emerging markets bank Standard Chartered <STAN.L> wants to buy a majority stake in South Africa’s Nedbank <NEDJ.J>, a person familiar with the matter said, in a move to boost its clout in Africa’s biggest economy.
Standard Chartered has made an approach for insurer Old Mutual’s <OML.L> roughly 54 percent stake, said the source, but the proposal is at an early stage and no decision has been made. Nedbank is worth about $10 billion.
LONDON/JOHANNESBURG, May 12 (Reuters) – Emerging markets
bank Standard Chartered <STAN.L> wants to buy a majority stake
in South Africa’s Nedbank <NEDJ.J>, a person familiar with the
matter said, in a move to boost its clout in Africa’s biggest
Standard Chartered has made an approach for insurer Old
Mutual’s <OML.L> roughly 54 percent stake, said the source, but
the proposal is at an early stage and no decision has been made.
Nedbank is worth about $10 billion.
South Africa ’s Caster Semenya returned home today following her 800m gold medal-win at the World Athletics Championships in Berlin .She was greeted by headlines from the country’s newspapers, expressing collective national pride for her achievement. “Welcome home, Caster, our champ. Caster, this nation is proud of you and we stand behind you, from Cape Town to Musina.”, screamed the Johannesburg-based The Times Newspaper.Her achievement should give hope to those South Africans in the far flung and unnoticed rural areas who want to be top achievers that they too can be champions. Caster, who was born in a small village of Ga-Masehlong , has overcome a number of obstacles in getting to where she is today - hopefully her triumph will inspire her country to honour her.There have been calls for government to rename the new South African public transport system, the Bus Rapid Transit System (BRT), after her. A lot is also expected from corporate South African to offer her incentives and rewards for making her country proud in Berlin .There is talk in some quarters that the great honour for Caster should come from President Jacob Zuma, who has promised to fight poverty and improve the lives of all South Africans. They say Zuma should ensure that Caster is removed from poverty. The state should see to it that Caster receives some monetary reward for her achievement.Afterall, it would not be the first time that excellence is rewarded with money. In neighbouring Zimbabwe President Robert Mugabe awarded $100,000 to Zimbabwean Kirsty Coventry for winning a gold medal at Beijing Olympics swimming events.Caster deserves something from this nation, and as The Times summed it up: “Her achievement is the greatest single sporting achievement by South African women on track, and it might be the greatest ever in all disciplines.”Is a handshake from the president and applause from South Africans enough for South Africa ’s newest sporting heroine?