Business In The News South Africa

CoAL fulfils all conditions to acquire Pan African’s Uitkomst Colliery

JOHANNESBURG, June 26– Coal of Africa (CoAL) announced on Monday that all conditions for the acquisition of Uitkomst Colliery Proprietary Limited from the precious metals producer, Pan African Resources PLC, had now been fulfilled. This follows Uitkomst Colliery having entered into a supply of coal agreement on terms acceptable to CoAL. In April, CoAL entered […]

Business In The News South Africa

FSB provisionally suspends JVN Asset Management (Pty) Limited

PRETORIA, June 24 – The registrar of financial services providers has provisionally suspended the authorisation of JVN Asset Management (Pty) Limited to act as a financial services provider with immediate effect. The decision follows the registrar receiving concerning information about the operations of JVN between March and June 2017, Financial Services Board (FSB) spokeswoman Tembisa […]

Business In The News South Africa

Maswanganyi outlines SOEs reform

PRETORIA, June 23 – Transport Minister Joe Maswanganyi on Friday outlined several turnaround strategies at State-owned enterprises (SOEs) under his portfolio, hoping that the reforms capacitate the entities to drive a developmental agenda and cut corruption. “Moving forward, with South Africa aspiring to be a developmental State, we are envisioning a framework for our SOEs […]

Business In The News South Africa

Group Five’s extraordinary general meeting sparks an exodus of board memebers

JOHANNESBURG, June 23 – Construction and engineering giant Group Five said on Friday that five directors will resign next month, including chairwoman Philisiwe Mthethwa, ahead of the extraordinary general meting called by one of the major shareholders. This comes after fund manager Allan Gray, whose clients hold 25 percent of the construction company, said last […]

Business In The News South Africa

South32 awards R158mln coal contract to 100% black-owned company

JOHANNESBURG, June 22 – Diversified metals and mining company, South32 on Thursday awarded a three-year core mining contract worth R158 million to a Broad Based Black Economic Empowerment company, Modi Mining, at its Wolvekrans Middleburg coal mine in Mpumalanga. Modi Mining will work closely with the Wolvekrans mining and planning teams to plan and deliver […]

Business In The News South Africa

Curro agrees to buy majority stake in Southern Business School

JOHANNESBURG, June 22 – Private school operator Curro Holdings on Thursday entered into an agreement to acquire 74 percent shares of Southern Business School for an undisclosed amount through its wholly-owned subsidiary, Stadio Holdings. This comes after Stadio acquired the South African School of Motion Picture Medium and Live Performance (AFDA) earlier this month, clearly […]