10 May 2013 10:51
A Nigerian billionaire, who is also officially the richest person on the African continent, is a disingenuous man.
Not only has he invested hundreds of millions in South Africa, but he now wants to change the country’s laws.
Aliko Dangote came out scathing against South Africa’s black economic empowerment (BEE) legislation this week, referring to it, according to reports, as an “obstacle to investment from other African states and a brake on intra-continental trade.”
Dangote says South Africa’s BEE laws and policies would have to be reviewed in order to attract more investment from Africa to South Africa to encourage all Africans to participate in South Africa’s...
30 April 2013 00:58
The TopTV takeover saga has just gotten more complicated as a new consortium has entered the bidding fray with an offer of R400m more.
It doesn’t get better.
In a move that’s likely to cause more confusion at a meeting of shareholders, a consortium - involving Malose Kekana ex-CEO of Umsobomvu Youth Fund and radio personality Given Mkhari - is one of the new suitors for TopTV, which filed for business rescue last year.
24 April 2013 00:50
The true test of Zimbabwe’s Indigenisation Programme, the country’s own version of Black of Economic Empowerment (BEE) is still to be felt.
And when it (this test) is finally felt, it is most likely to shake the very foundation of the stability and the efficiency of the Zimbabwean banking sector.
02 April 2013 00:51
Jabu Mabuza is a leader not to be crossed.
If the latest reports on his firm but brutally frank warning to government’s interference on strategic issues at Telkom are anything to go by, then the newly-appointed Chairman of Telkom is fearless to say the least.
28 March 2013 23:13
A good thing is like milk which needs no sugar, or a spear which needs no polish.
News that government-owned mega transport and logistics company Transnet has awarded a R1.3billion internal audit contract to black-owned accounting firms over the next five years, fits snugly the description above.
The accounting firms in question, all founded, led and managed by young black women are SekelaXabiso under the stewardship of Lindani Dlamini and Nkonki Incorporated led by Sindi Zilwa.
This is the deal:
SekelaXabiso will have 40% share of the contract in the first year and Nkonki 20%, while KPMG will have 40%. By the fifth year of the contract, Nkonki’s share would grow to 35% while SekelaXabiso’s share would peak at 45%.
But what do these...