1 2 3 >  Last ›
Chronology
Business
South Africa

Retail giant Woolworths was dealt an embarrassing blow on Wednesday, which resulted in a product being discontinued when it was ruled that they had imitated Frankie's Olde Soft Drink Company. By GREG NICOLSON.

Frankie’s CEO Mike Schmidt said he didn’t look at the size of the company he was up against, but the dispute has been dubbed a 'David-and-Goliath battle'. Woolworths has been operating in South Africa since 1931 and trades in more than 400 stores across Africa and the Middle East. In the 2010/2011 financial year its food operations alone had a turnover of R13-billion. Frankie’s opened in 2006 when Schmidt started to drive 100-litres of soft drink around KwaZulu-Natal each week. It’s grown since, but with R18-million in turnover, it’s more of a rounding error for Woolworths.“We have won the battle,… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

US

It’s official, Facebook has finally filed for a public stock offering. But does the company’s revenue-generating model justify its expected valuation of $100 billion? Will anybody aside from the investment bankers and industry insiders benefit from the listing? KEVIN BLOOM considers the question.

In April 2010, an episode of South Park aired in the US and UK that viewers rated as one of the funniest in years. The episode was titled “You have ‘0’ friends,” and it followed the quest of Stan, who said he didn’t “want to be like a third-grader who’s been on Facebook six months and has zero friends.” So Kyle, Kenny and Cartman set up a profile for him, which soon became a huge success—leading in turn to the awkward and inevitable moment where Stan refused to friend Kyle. There were of course other scenes in the episode that… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

Sudan, Sinai

If this isn’t a sign of how far the USA has fallen, I don’t know what is. Twenty years ago it would have been American workers targeted by rebel groups. But the times they are a-changing, and two kidnappings in the last week suggest China’s increasingly dominant role in the world – and especially Africa – is being recognised. And not in a good way. By SIMON ALLISON.

Twenty-nine Chinese workers were kidnapped from their construction site in Sudan on Saturday. Initial reports suggested the Sudanese Army had rescued some of them, but the Chinese government has denied this. Although there is some confusion around the identity of the hostage-takers, all signs point to involvement by the Sudan People’s Liberation Movement-North, a rebel group wanting the downfall of the regime in Khartoum. The SPLM-N enjoys very close links with the government of South Sudan. After all, the SPLM-N is now an independent faction of South Sudan’s ruling party. There’s been a lot of fighting between the Sudanese army… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

South Africa, Congo

When Vodacom’s business partnership in the Congo fell apart at the seams, and the company’s directors in the DRC were about to land in jail, the mobile giant’s chairman phoned Moto Mabanga, a fixer with firm ANC connections. Mabanga fixed the problem all right, but he and Vodacom had a difference of opinion on a little matter of a multi-million dollar success fee. No problem for Mabanga; he’s managed to get a Kinshasa commercial court to make a $21-million award against Vodacom. Now if only Vodacom would recognise the DRC’s jurisdiction. By MANDY DE WAAL.

Moto Mabanga is what you’d call a “fixer”. If you’re a company in Africa and have a big problem, there’s a chance he can make that difficulty go away or find resolution to a conflict. For this he’s paid a fair bit of money. Vodacom, as anyone who follows the mobile industry knows, was having a problem in the Democratic Republic of the Congo. Well, you may ask, when hasn’t Vodacom been having a problem in the DRC? This time, the problem, they’d been having it*, and so it was that Mabanga’s phone started ringing in the middle of the… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

South Africa

Many NGOs are on the brink of financial collapse and they’ve laid the blame squarely at the feet of the department of social development and the new Lottery Board. Now they’re turning to the media and public at large, hoping somebody will finally pay attention. By SIPHO HLONGWANE.

Autism SA, Johannesburg Parent & Child Counselling Centre, West Rand Association for Persons with Disabilities and the Region 10 Development Centre of Soweto are just some of the non-profit organisations on the brink of collapse if their financial situation doesn’t change very soon. The Gauteng Welfare, Social Service and Development Forum held a meeting at its offices on Tuesday (the media were allowed to sit in) and every organisation represented there painted the same picture: they had received a fraction of the funding they had requested from the department of social development and the National Lottery – some none at… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

US

Americans will soon begin to groan under the weight and information overload of politically-charged advertising, broadcast media commercials, Internet-based messages and targeted, automated phone calling in favour of candidates and policies. The superPACs are taking the presidential campaign trail by storm. By J BROOKS SPECTOR.

In Florida, the most recent polls say Newt Gingrich is around 11% behind Mitt Romney in the upcoming Florida primary on 31 January. The two other remaining contestants – Rick Santorum and Ron Paul – are unable to turn this next primary into anything beyond a two-man race, and despite Newt Gingrich’s fighting words that he is in it to the convention, a convincing Romney win in Florida may just about bring the Republican’s competition to a close, as the next contests in Nevada and Maine should be Romney’s to win as well. Romney has close ties to Maine, and… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

Your TV

The truth about reality television is that there’s nothing real about it, writes MANDY DE WAAL.

Deleese Williams is not exactly the most attractive woman in the world. She has crooked teeth. A partially deformed jaw. Ears that stick out of the side of her face. And a weak chin. But she was perfect for the ABC reality programme “Extreme Makeover” which – if you’re not a reality television acolyte – is a personal “improvement” show of sorts. Men and women who aren’t quite attractive enough enter a period of isolation where the only people they get to meet are plastic surgeons, hair stylists, beauticians, dentists, personal trainers and stylists. Then, when the ugly ducklings have… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

South Africa

The team who a decade ago transformed South African online banking with 20Twenty are back, this time with an online financial services tool that’s “guaranteed” to save you money. By GREG NICOLSON.

Christo Davel called an assistant to the front and asked him how many people he thinks noticed his Barry Manilow t-shirt. Everyone glanced at it, said the young assistant. Davel then asked the audience, a suave group of about 40 sitting in the function space at Circa Gallery in Rosebank, Johannesburg. Only a few hands went up. That’s how “dofly” we respond to things, said Davel. “Most of the time people don’t give a damn. You do things according to how we think people will react.” Davel, a former dentist, hotelier and founder of the transformative 20Twenty online bank, was… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

Davos, Switzerland

Yada yada yada yada yada. Talks about talks about talks about talks. So far, the World Economic Forum in Davos, which kicked off on 25 January, seems to be more of the same. Except this time, there really doesn’t seem to be much of a “forum” to speak of—mainly because the “world” part isn’t being bought by the 99%. By KEVIN BLOOM.

Occupy WEF—the three-letter acronym standing, of course, for the World Economic Forum—is exactly what you think it is. But just in case you’ve forgotten about Occupy Wall Street, here’s a little refresher…this movement is about grabbing the fate of humanity back from the evil profiteers who’ve gotten it (meaning, us) into this mess; it’s about telling the corporate CEOs and investment bankers, flush with the lovin’ from their annual bonuses, that we’re onto them; it’s about the fact that the universe doesn’t belong anymore to the fat-cats who make up the one percent. No, Occupy WEF bellows, the earth shall… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

South Africa

With just a month to go to the budget speech, we really don’t envy the Treasury budget team – but it’s not just the number crunchers who have been fretting the prospects for 2012. Economy voyeurs, that curious species who thrill at the subtle curvature in a line graph, have also been in heated debate about exactly what this year portends for South Africa. By SIPHO HLONGWANE and KHADIJA PATEL.

With the finance minister’s budget speech of 2012 fast approaching, the chatter about what Pravin Gordhan might say upon his return from Davos and how he might weigh the budget has begun. The over-arching concern is how the ever-increasing public bill is going to be serviced in a climate of falling company revenue and shrinking tax bases, thanks to a global downturn, if not downright recession. On Wednesday morning, several directors at Deloitte met with the media to present a shopping list of potential moves Gordhan might make. The overall feeling is that we won’t see drastic moves in areas… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

US

For those who believe there is no solution to the regular carnage on South African roads – a thousand or so killed this past holiday season, by way of example – think again. Google’s driverless car is here to save us. It has a couple of twists and turns to manoeuvre before we’re out of the driver’s seat, though. By RICHARD POPLAK.

Type “driverless car” into Google’s search engine, and what do you get? A million entries on Google’s driverless car, perhaps the most innovative piece of technology the company has in its R&D arsenal. The company is clearly not content with running the Internet. They want to own the world. That’s a respectable impulse; one this magazine, for instance, heartily shares. But while the iMaverick is unlikely to invent UFOs that run on mealie husks, or sexbots who do the dishes, Google is determined to change the way humans live their lives. And is there anything more human – and I… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

world

Kim Schmitz, aka Kim Dotcom, was until his arrest last week the kingpin of one of the largest piracy networks the Internet has yet seen. But the misdirected “libertarian” hacker group Anonymous supported him anyway. What does this have to do with the two pieces of anti-piracy legislation that have just been shelved by the United States Congress? And how can artists, writers and musicians make a living in the face of a populist call for online anarchy? By KEVIN BLOOM.

In an indictment brought on 5 January this year in the United States District Court, for the Eastern District of Virginia, the grand jury charged that the commercial website Megaupload and its co-defendants—men from Germany, the Netherlands and other countries—were members of a “mega conspiracy,” a worldwide criminal organisation that engaged in copyright infringement and money laundering on a massive scale. The harm to copyright holders, the court alleged, was well in excess of $500 million, and the reported income of the group in excess of $175 million. What made Megaupload “criminal” in the eyes of US authorities were a… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

world

Ever since the death of feudalism, the captains of capitalism have churned the wheels of spin to have us believe that free markets are free, globalisation is good, capitalism is fair and other fairy tales. Cambridge development economist Ha-Joon Chang says it’s high time we stopped drinking the pro-capitalist Kool-Aid. By MANDY DE WAAL.

Markets are not a natural phenomenon but are merely political constructs. Prominent development economist and author of 23 Things They Don’t Tell You About Capitalism, Ha-Joon Chang says once you get your head around that concept, you’ll begin to see that there’s no economic theory that’s totally objective and you’ll understand why you shouldn’t be awed by “economic experts” who present their views as “scientific evidence”. Chang, who teaches economics at the University of Cambridge, is a dissenting voice in the world of economics who believes there’s no such thing as free markets and that free trade is anything but… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

US

How many companies can claim that Paul Simon once wrote a song about it, without being paid—or even asked—to do so? Not many. But on Thursday 19 January, as Kodak files for chapter 11 bankruptcy in Manhattan, the last line of the chorus from that tune is something the directors (and perhaps the founder, from his grave) are going to be forced to weep over… “Mama, don’t take my Kodachrome away…” By KEVIN BLOOM.

It reads like a Hallmark movie, and you just know how the opening scenes would play out —young George, our protagonist, receives news of his father’s death and at 14 is forced to leave school to support the family; he gets a job as a messenger boy at an insurance firm, on a starting salary of $3 a week; a year on, he transfers to another insurance firm, where he figures out a policy filing system and is soon earning $5 a week; the salary is still not enough, so at night he studies accounting, and by the age of… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

South Africa

The man who brought mobile telephony to South Africa through Vodacom is Cell C’s new Chief Executive. Analysts predict that the move will be great for consumers while Knott-Craig said the first thing he would fix was Cell C’s platform so that the mobile operator could “deliver on its promises.” By MANDY DE WAAL.

Alan Knott-Craig senior’s first priority when he assumes leadership at Cell C in April will be to sort out the mobile operator’s network. “I certainly don’t intend to under-deliver on promises. I want to ensure that the basics are correct,” he told iMaverick. Telecommunications analysts said Cell C’s biggest point of pain was the mobile operator’s inability to give the market what it had promised. Knott-Craig reacted by saying fixing Cell C’s platform was the first item on his agenda: “They (Cell C) could never deliver what they promised because they don’t have a proper network yet. I believe they… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

Johannesburg

Boekehuis, a well-loved bookstore in Johannesburg, is set to shut its doors this month after Media24 Books, a subsidiary of Naspers, decided the store’s failure to turn a profit could not be sustained any longer.  KHADIJA PATEL spoke to manager, Corina van der Spoel, about the store’s legacy.

When the lease for Cape Town’s iconic Clarke’s bookshop at 211 Long Street was not renewed two years ago, a public outcry ensued that has since assured the store a continued presence on Long Street, albeit two doors away from the space it has occupied for 60 years. Clarke’s is a living tome of South African history but even history is not immune from the scourge of change. “It was devastating to lose the layers of history in this space,” owner Henrietta Dax said. Among the vexations change is set to wrought, futurologists (not the kind who rely on crystal… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

South Africa

Almost a year since President Jacob Zuma’s state of the nation unemployment address, we have a new job-creation proposal. Incentives for special economic zones (SEZs) will be expanded and areas of advantage prioritised. By GREG NICOLSON.

The first thing to know about the department of trade and industry’s special economic zones bill is that it’s a welcome improvement on the industrial development zone (IDZ) programme, initiated in 2000. Four IDZs were earmarked to boost investment, growth, employment and skills development. Each needed access to an international port or airport and the potential for export-orientated production. They were Coega in Port Elizabeth, East London, Richards Bay and OR Tambo International Airport, which never became operational. The carrots were enticing: a network of quality infrastructure, expedited customs procedures and duty-free operations. After 10 years, there has been some… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

US, China

A group of US lawmakers have asked the state department to investigate whether Chinese technology firm Huawei Technologies Co. has violated US sanctions on Iran by supplying Tehran with sensitive communications technology used for censorship. Iran is of course the bogeyman en vogue and Huawei is a soft target undermining the reliance of Western technology for government-level filtering in repressive nations. By KHADIJA PATEL.

An in-depth investigation by the Wall Street Journal last October claimed recent contracts between Huawei and the two largest mobile carriers in Iran, Mobile Communication Co. of Iran (MCCI) and MTN Irancell, will allow police to track the locations of mobile phone users. The newspaper’s findings against Huawei are certainly damning. Huawei is said to have won a contract with MCCI to provide equipment that enables the company and police to track people based on the location of their phones. Huawei is also said to have helped MTN Irancell set up a mobile-phone news service, and according to one insider… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

South Sudan

The government of South Sudan has put pen to paper on the first oil contracts to be signed since independence, giving four companies access to the new country’s lucrative oil fields. That these companies all have a distinctly Asian flavour might show that the west doesn’t have as much influence in South Sudan as they’d like to think. By SIMON ALLISON.

Conspiracy theorists would have us believe all the wars in the 21st century have their roots in one simple commodity: oil. That’s why the US invaded Iraq, that’s why intervention was pushed in Libya and why the west was so keen to see the birth of an independent South Sudan. These theorists might not be all that far off the mark, which is why the latest development in South Sudan is especially interesting. The new country, still struggling to establish itself, has awarded the first batch of oil contracts since independence to the China National Petroleum Corp, the China Petroleum… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

South Africa

Eskom’s warning of possible renewed rolling blackouts is enough to chill the heart of any South African. It’s a grim prospect – we remember the (ironically) hellish time of “load shedding”, with billions of rands lost. As dark predictions of shedding resurface, we wonder if the lessons of 2008 were completely lost? By SIPHO HLONGWANE.

There are few things which unite South Africans better than a shared hatred. It is usually crime, ill-treatment at the hands of Kiwi rugby referees, and of late, the e-toll roads around Johannesburg. Oh, and load shedding. We hate load shedding. To modern life, not having electricity is in the same category as a major earthquake. Life literally stops. This may be acceptable if it comes about thanks to “an act of God”, like a tornado or earthquake. But when the mess is the making of a company entrusted with keeping our lights on and our stoves working, well, grim… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

What’s less trustworthy than a Swiss Bank? It’s the unanswerable question – a showstopper by virtue of the fact that the Swiss banking system utterly lacks virtue. Bern has now been thrown into further turmoil, presaged by the resignation of the head of the Swiss National Bank. Cue the “hole in the cheese” jokes. But no one is laughing. By RICHARD POPLAK.

By all accounts, Philipp M. Hildebrand, former chairman of the Swiss National Bank, was the perfect beancounter. Greyish of hair and suit, he walks with a “trust me, I’m a banker” bearing, carrying the grace and savoir faire of continental Europe on his ski-toned shoulders. But Monsieur Hildebrand has recently ceded to calls for him to step down from his post, all for an act of dodginess performed by his wife, which in turn makes him look like a total scumbag. Hildebrand, who has hair that looks like it was sculpted in a plastics factory, was in charge of Swiss… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

Europe

It’s a strange day when the issue of breast implants could have an impact on the political future of the EU. But that’s what political analysts suggest may be at stake in the wake of a move to create EU-wide implant regulations. By REBECCA DAVIS.

The breast implant story started in 2010 when a French company called Poly Implant Prothèse (PIP) was found to have been manufacturing faulty silicone devices. The implants were banned when it emerged that, instead of medical-grade silicone, the company had been using industrial-grade which has a higher risk of rupturing. Health authorities across Europe have now issued very different recommendations as to how to deal with existing implants. Last week France said, for instance, the government would pay for all 30,000 French women affected to have the implants removed. Britain, however, insisted on Friday that there was not sufficient evidence… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

Vietnam

It’s going to be the biggest initial public offering since Google listed in 2004, and it’s likely to happen in the next few months. So how has Facebook founder Mark Zuckerberg been preparing for the event that could value his company at $100 billion? By vacationing like the craziest rich guy on Earth, of course. By KEVIN BLOOM.

Hey, he deserves it. A vacation fit for an eccentric billionaire. First it was Vietnam with the girlfriend and crew, where – even though his social networking site is frequently blocked by local Communist authorities – Mark Zuckerberg hammed it up like a modern-day Howard Hughes. After landing in Hanoi on 22 December, the Facebook founder chartered a helicopter to Ha Long Bay and spent the day kayaking off a junk ship. Later he flew everyone across to Sapa, where, naturally, buffaloes were ridden. Then it was time for the Amazing Race Spectacular, which involved a division into teams for… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

England

The world's richest sporting competition happens to be the one that is least predictable. Which is why it is also the best sporting competition in the world. By SIPHO HLONGWANE.

It was a sight that nobody had seen for more than 15 years. Sir Alex Ferguson stood transfixed at the edge of a field in the north of England, his face a mixture of barely-contained rage, fatigue and that pasty grey that is peculiar to Scotland. He was completely motionless, except for his jaws that were savaging a piece of gum. The Gaffer was genuinely at a loss as to what to do. Manchester United was on the brink of a second consecutive defeat in the 2010-2011 season, at the hands of the irrepressible Newcastle United Football Club, and there… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

Swaziland

Poor old Coca-Cola. The world’s favourite drink can’t do much right these days. If it’s not responsible for America’s obesity epidemic, then it’s causing children’s teeth to rot. Or using up all of India’s water while stealing Nigerian jobs. But this latest accusation goes even further, claiming Coke is responsible for propping up the authoritarian regime of an entire country – and it refuses to do anything about it. By SIMON ALLISON.

That country is Swaziland, where Coca-Cola has its concentrate manufacturing plant that exports all over southern and eastern Africa. Critics, led by the Swaziland Solidarity Network, claim Coca-Cola alone accounts for up to 40% of Swaziland’s GDP. This number is probably a generous overestimate, but even if it’s just 20%-30%, it’s still a hefty slug, without which the nearly bankrupt government of King Mswati III would be completely bankrupt. And that is the critics’ issue. By virtue of its economic position, Coca-Cola is in a powerful position to influence Swaziland’s wayward king, Africa’s last absolute monarch and often criticised (with… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

Twittersphere

Who knows what happens to a media baron when he gets humiliated by the very government he helped shepherd into power. Does he lie awake at night mumbling to himself? Does he hear voices and see dead people? Does he discover Twitter and decide it’s the perfect vehicle to take his madness to the masses? Or is the truth of his presence on one of the world’s most successful social networks more sinister than that? By KEVIN BLOOM. 

It’s going to be a fun year, innit? When Sir Ahmed Salman Rushdie—winner of the Booker Prize in 1981 for Midnight’s Children, recipient of a fatwah from the Ayatollah Ruhollah Khomeini in 1989 for The Satanic Verses, and conferee of a Knight Bachelor by Queen Elizabeth II in 2007 for “services to literature”—informs his 166,645 followers on Twitter that the social media giant “verified” Mrs Murdoch while News International deemed her a fake, you just know 2012 is going to rock. Especially when, an hour later, the same Commandeur in the Ordre des Arts et des Lettres of France and… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

South Africa

As an entrepreneur, the odds of success really are stacked against you. Out of every 10 new business ventures started, three or four will be lucky to see out the first two years of existence, and two of those will be lucky to get even further. STYLI CHARALAMBOUS takes a look at a new enterprise that aims to assist South African entrepreneurs bridge the funding gap, one of the biggest reasons start-ups fail before they even start.  

Even with the much-publicised rate of new business failures, each year wannabe Bransons, Jobs’ and Zuckerbergs toss aside their golden corporate handcuffs to enter the entrepreneurial minefield of start-up business. South Africa needs a vibrant new business ecosystem to generate the kind of job growth necessary to make a dent into the 25% unemployment rate haunting this country. We know SMEs and new businesses are the only sustainable way to create economic growth and employment, yet the environment can be particularly unfriendly to newcomers, burdened with administrative red tape and the lack of access to capital. Building this “ecosystem” is… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

USA

Warren Buffett, a man who carries in his walletr the GDP of sub-Saharan Africa, is 81 years old. Who will run his Berkshire Hathaway firm when he buys his way into heaven? That’s the question currently obsessing Wall Street. By RICHARD POPLAK

What will happen to Berkshire Hathaway, the $66-billion hedge fund, when its famous CEO shuffles off this mortal coil? Everyone loves Warren Buffett. He’s President Barack Obama’s favourite businessman, having backed his tax-the-rich scheme by insisting the wealthy pay their share. The Buffmeister is the anti-Steve Jobs, trumping Trump with his avuncular bearing and his old-school gentility. “If only there were more like him” is a wish that steadily morphs into a necessity when the size of the Berkshire Hathaway portfolio is considered. Running 66 large is, in Spiderman parlance, both immense power and immense responsibility. Who is up to… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

Kenya

1Time’s new route to Mombasa, Kenya is an exciting expansion of its small but growing African network. It wants to get bigger, and – with other low cost airlines – make Africa’s exorbitant airfares a little cheaper. But it’s expanded just about as far as the continent’s governments will let it. By SIMON ALLISON.

Africa is an expensive place to fly. From Johannesburg, it costs about as much to get to Kenya as it does to London, and if you want to go somewhere even slightly more obscure – Accra, perhaps, or Lagos – it will be significantly more. The low fares revolution has not arrived in Africa yet, and business and tourism are suffering as a result. Which is why 1Time’s announcement of their new route between Johannesburg and Mombasa, Kenya’s second city, is good news for the continent. 1Time is well established in South Africa, and it’s the only low fares airline… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

South Africa

The Economic and Business Outlook for South Africa 2012 is out. It is compiled by Business Unity South Africa and is meant to represent what Big Business feels about our economy. Well, the feelings aren’t particularly good. The odds are stacked too mightily against good growth. By SIPHO HLONGWANE.

Nearly everyone who has any sort of say in the matter has watered down the economic growth prospects of South Africa for next year. On Monday, it was the turn of Business Unity South Africa (Busa). The deputy CEO Raymond Parsons presented the Busa Economic and Business Outlook report to the media, and wasn’t a bucket of smiles doing it either. “The global economy has entered a dangerous new phase,” the report warns. “Global economic activity has weakened further and become more uneven, confidence has dropped and downside risks are increasing. While further bail out arrangements have been proposed for… More

Print | Email | Facebook | Tweet this | More  | Follow us on Twitter  | RSS

 1 2 3 >  Last ›