Category: Southern Africa

South Africa’s Chamber of Mines has lodged an urgent court application to prevent the mines minister from suspending the issuance of new mining and prospecting rights, the industry body said on Tuesday. “The industry has no option but to proceed with court action to ensure that the minister acts within the law,” the chamber said…

Production at Blanket Gold Mine rose by over eight percent during the first half of this year despite some teething infrastructure challenges, management has revealed. The Gwanda based mine is 49-percent owned by Canada’s Caledonia Mining Corporation which was one of the first investors in the sector to comply with the country’s empowerment laws. The…

Zimbabwean President Robert Mugabe on Friday pleaded with his country’s skilled workers living in the diaspora to return home so that they could help in reviving the southern African country’s floundering economy. This came at a time when an estimated four million Zimbabweans were living outside the country after fleeing economic problems and alleged political…

PPC’s CEO Darryll Castle has resigned less than a week after Tito Mboweni stepped down from the board. According to Business Day, Mboweni allegedly quit over irreconcilable differences about the strategic direction of the company and its proposed merger with Afrisam. Castle will be available to PPC to ensure a smooth handover for a period of…

South Africa’s Reserve Bank is expected to leave interest rates unchanged at its July 20 meeting, according to a Reuters poll released on Monday, but economists expect a dovish statement as the Bank gets closer to its easing cycle. Twenty-four of 27 economists said the Reserve Bank will hold rates at 7.00 percent on Thursday.…

Mazda Motor Corp. is recalling 19,000 cars in South Africa due to airbag safety concerns as the Japanese carmaker extends a global recall to cover a wider manufacturing period, its local unit said on Monday. The recall was prompted by investigations in Japan and North America for three different types of Takata Corp manufactured airbags…

South Africa’s Public Protector Busisiwe Mkhwebane has called for an urgent investigation to take place into state capture, and backed her predecessor’s call that President Jacob Zuma has no right to decide which judge should oversee the inquiry. According to ENCA, this was revealed in her answering affidavit in the state of capture review application. Zuma in…

Enterprise application software provider SAP has initiated an independent investigation into allegations that it agreed to pay 10% “sales commission” to a company controlled by the Guptas to clinch business from Transnet. The New York Stock Exchange listed company is governed by The Foreign Corrupt Practices Act, which prohibits such practices. SAP’s probe will be spearheaded by a multinational law firm…