Business In The News South Africa

Competition Commision refers Japanese company for prosecution over collusion and price fixing of Toyota vehicles

JOHANNESBURG – The Competition Commission on Monday referred Kawasaki Kisen Kaisha (K-Line), a Japanese company operating in South Africa, for prosecution to the Competition Tribunal for alleged price fixing, market division and collusive tendering. The case involves the transportation of Toyota vehicles from South Africa to Europe, North Africa and the Caribbean Islands via Europe, […]

Business In The News

Sacoil buys majority stake in Afric Oil

CAPE TOWN – Sacoil, the South African based independent African oil and gas company, said on Monday that it had acquired a 71 percent interest in Afric Oil Group, one of the largest independent fuel distributors in South Africa. Following completion, Sacoil’s portfolio will consist of operated production activities in Egypt, exploration in Democratic Republic […]

Business In The News

Barclays agrees to pay R15bn to separate from African arm

CAPE TOWN – Barclays Africa on Thursday said the terms for its operational separation from UK-based Barclays PLC had been agreed, including separation contributions from Barclays PLC of around R14.9 billion, which includes provision for a broad-based black economic empowerment scheme. The separation contribution is expected to “neutralise the capital and cash flow impact of […]