Britain Aims to Invest £56 million in Battery Storage Facilities in South Africa

Britain’s prime minister Theresa May has expressed her desire to invest 56 million pounds in battery storage facilities in South Africa during her current visit to the country, media reports said on Wednesday (29). Battery storage facilities are expected to help the African nation to manage peaks and troughs in power supply from solar, wind, […]

Gupta banks on Nigeria deal for Brexit trade ties

DIAMOND ADDITION WILL HELP GPG ACCESS COMMONWEALTH MARKETS BRITISH INDIAN entrepreneur Sanjeev Gupta has struck a deal with Nigeria’s Dia­mond Bank Plc to acquire its UK-regulat­ed banking subsidiary, Diamond Bank (UK) Plc. The bank, which will be renamed British Commonwealth Trade Bank (BCTB), aims to strengthen trade with developing econo­mies, particularly within the Commonwealth. “The acquisition […]

COURT ACTS AFTER CANADA FIRM CANCELS LOAN

SOUTH AFRICA’S high court ruled on Monday (19) that a luxury jet leased by the Gupta family, friends of ousted president Jacob Zuma, should be grounded after the Canadian credit agency that fi­nanced the lease cancelled its loan to the Guptas. The three Gupta brothers are at the centre of graft and influence-peddling allegations surrounding […]

Gupta firms’ Baroda Bank blow

A GROUP of almost 20 South African companies linked to the Gupta family have lost a court bid which sought to have India’s Bank of Baroda, the last lender doing business with the firms, maintain operations in the country, court docu­ments showed on Monday (12). Baroda’s South African division was thrust into the spotlight two […]

Union Minister Dharmendra Pradhan welcomes the African nations at India Africa Knowledge Exchange Mission

On Monday Union Minister Dharmendra Pradhan welcomed the African nations at the inaugural ceremony of India Africa Knowledge Exchange Mission and stressed on working towards further enhancing co-operation in fields of energy, skill development with all the African countries. The exchange mission is organized by Ministry of Skills Development and Entrepreneurship and World Bank. At […]

‘Unlawful’ KPMG South Africa under fire

SOUTH AFRICA’S tax agency on Monday (18) accused KPMG of “unethical” and “unlawful” behaviour in withdrawing a report that sug­gested the former finance minister ran a rogue unit to spy on political leaders. The global auditor cleared out its South Afri­can leadership en masse last Friday (15) after damning findings from an internal investiga­tion into […]