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  • South Africa's entrepreneurs tackle youth unemployment crisis

    22 November 2013 9:26 AM 51

    South Africa has one of the highest youth unemployment rates in the world, and while the government tries its own solutions, entrepreneurs are coming up with new ideas to tackle the problem. On a sweltering summer morning, a group of around 50 men pace the streets of a Johannesburg suburb canvassing for jobs. They hold up placards marketing themselves

  • Industrial users rebel against Eskom

    22 November 2013 5:47 AM 64

    November 22 2013 at 07:45am By Londiwe Buthelezi and Bloomberg Johannesburg - In an unprecedented show of muscle, the Energy Intensive User Group of Southern Africa (EIUG), including mining giants BHP Billiton and Glencore Xstrata, put their foot down over Eskom’s call for prolonged restraint in electricity usage, prompting a quick rethink of the emergency

  • ANC’s Phosa to get R120m RCL stock

    22 November 2013 5:32 AM 47

    November 21 2013 at 06:00pm Johannesburg - The family trust of Mathews Phosa, the former treasurer general of South Africa’s ruling party, will be issued stock in RCL Foods Ltd. worth 120 million rand ($12 million) as part of a takeover of TSB Sugar RSA. RCL, South Africa’s largest poultry producer, today bid 4 billion rand for TSB, a unit of Remgro

  • Rand firmer after Reserve Bank holds rates

    22 November 2013 5:12 AM 53

    Friday 22 November 2013 06:09 Although the SARB did not think it 'appropriate to raise rates on this occasion', the perception in markets is that tightening has at least been put on the table. (SABC) The rand firmed against the dollar on Thursday after Governor Gill Marcus acknowledged that a rate hike had been discussed at a meeting where the central

  • Top cop received loan from Krejcir

    22 November 2013 3:48 AM 57

    Mandy Wiener | Today, 05:43 JOHANNESBURG – The Mail and Guardian newspaper reported on Friday morning that a top policeman on the East Rand received a R400,000 loan from a company controlled by Czech fugitive Radovan Krejcir. In January 2012, head of Germiston's organised crime unit, Colonel Francois Steyn, received the loan from a Krejcir–linked company

  • JSE stocks slide as growth fears widen

    21 November 2013 5:10 PM 54

    November 21 2013 at 06:07pm By Reuters Johannesburg - South African stocks fell more than 1 percent on Thursday as investors cashed in everything from banks to bullion mining companies on concerns about slowing growth in Africa's largest economy. Trade was interrupted for foreign investors for much of the day due to a system glitch with the Johannesburg

  • eThekwini denies link to Tongaat mall man

    21 November 2013 2:04 PM 66

    November 21 2013 at 11:38am By Kevin Lancaster Durban - eThekwini municipal manager S’bu Sithole denied allegations that the city had a special relationship with Jay Singh and his son, Ravi Jagadasan’s, company, Rectangle Property Investments, developers of the Tongaat mall which collapsed on Tuesday. “We exhausted all the legal remedies (to stop the development)

  • SA runs out of options to spur growth

    21 November 2013 1:25 PM 67

    November 21 2013 at 10:17am Johannesburg - The South African Reserve Bank is running out of options to stimulate a sluggish economy as a weaker rand this year keeps pressure on inflation. The Monetary Policy Committee, led by Governor Gill Marcus, will probably keep the benchmark interest rate unchanged at 5 percent today, according to all 22 economists

  • Collapsed mall built illegally

    21 November 2013 10:27 AM 113

    Property developer and well-connected millionaire, Jay Singh, started construction of the doomed 16000m² multi storey mall in the middle of Tongaat, KwaZulu-Natal, without permission. Without approved building plans or an environmental impact assessment to rezone the residential area, the building, which is less than 5m from a railway line, sprang up within

  • Cape farming group loses millions due to storm

    21 November 2013 6:00 AM 72

    Thursday 21 November 2013 06:13 A major farming group, the Du Toit group at Ceres in the Boland, Western Cape, has estimated its loss of income after last Friday's hail storm at R70 million. Marketing manager, Pieter du Toit, says the damage to their apple and pear orchards is so extensive that no new contracts for seasonal workers will be signed