BP Angola commits £4.72m for landmine clearing charity  

BP ANGOLA has announced it has increased its financial grant to $6.1 million (£4.72m) over four years to support the work in Angola of British landmine clearance charity HALO Trust. An additional $4.9m of funding has been agreed to bolster the $1.2m grant announced last year, as the pair widen their ambitions for the region. […]

Sharma assures new UK aid to build green cities across Africa

BRITISH international development secretary Alok Sharma has pledged new UK aid to help build green cities across Africa with quality infrastructure. Sharma, who is on a visit to Kenya, announced he would set up a UK Centre for Cities and Infrastructure, which will turbo-charge investment in fast growing cities across the developing world. The centre […]

ArcelorMittal to close Saldanha plant in South Africa

STEEL giant ArcelorMittal has said that it will shut down its South Africa-based Saldanha plant. A higher than expected financial losses and the global slowdown have forced the company to retrench nearly 1,000 workers who work for the plant in the African country, the world’s largest steel producer said on Monday (11). Kobus Verster, Chief […]

Eskom sues Deloitte for alleged illegal contracts

SOUTH AFRICA’S Eskom is taking legal action against Deloitte Consulting for the recovery of funds amounting to £10.91 million. The cash-strapped state power company alleges that the sum of £10.91m is related to improperly-awarded work during 2016. Eskom has a debt of over £23.71 billion and is dependent on government bailouts to remain operational. The […]

South Africa to start fresh attempt to seize Guptas’ money in US, UK and UAE

SOUTH AFRICAN authorities are to launch a fresh attempt to seize the billions of rands that Indian-origin Gupta brothers illegally took out of the country after allegedly acquiring it through irregular deals with state departments, a media report said. According to the report in Sunday Times, the Asset Forfeiture Unit (AFU) has enlisted the assistance […]

Tata Power arm to exit South African joint venture Cennergi for £85m

A SUBSIDIARY of Tata Power, Khopoli Investments, has announced a share purchase agreement with Exxaro Resources for the divestment of the company’s entire 50 per cent stake in Cennergi, a South African joint venture, for £85million ($106m). Cennergi is a 50:50 joint venture between Exxaro Resources and Khopoli Investments, a wholly owned subsidiary of Indian […]

Alok Sharma visits Nigeria in first overseas trip as international development secretary

INDIAN origin international development secretary, Alok Sharma visited Nigeria in his first overseas trip in the role to see how UK aid is helping to generate trade and investment opportunities – both for African and British businesses. Nigeria is Africa’s largest economy and during the two-day trip, which concluded on Friday (2), Sharma met the […]

South African leader defends meetings with Indian business tycoons

SOUTH AFRICAN president Cyril Ramaphosa said Friday (26) he had met members of an Indian-born business family at the heart of a giant corruption scandal but “nothing of consequence” was discussed. In an affidavit submitted to a judicial inquiry probing a web of dodgy deals between government officials including Ramaphosa’s predecessor Jacob Zuma, the Gupta […]

Received death threat after testimony: South Africa’s Zuma

FORMER South African president Jacob Zuma said on Tuesday (16) he had received a death threat after his testimony the previous day to a corruption inquiry, in which he denied allegations of graft and said his enemies had plotted decades ago to get rid of him. The inquiry is spotlighting the graft allegations that clouded […]

Zuma confirms initiating newspaper, TV channel ideas with Indian origin Guptas

FORMER South Africa president Jacob Zuma has said that he initiated the idea that led to the controversial Indian-origin Gupta family establishing their media empire, which has since collapsed. Zuma said he had conceived the idea of having an “alternative media” in South Africa because “the media in this country is very biased; at all […]