Shout-Africa News At least 1% of business in the metals and engineering industry is black owned and there is a disturbing trend in terms of demographics in both board memberships responsible for critical decision making and the management levels. This paints a less than rosy picture of Broad Based Black Economic Empowerment (BBBEE) in this industry. Deputy President Kgalema Motlanthe said quoting from findings of a comprehensive study by the Corporate Strategy and Industrial Development (CSID) Research Unit based at the University of Witwatersrand. The Deputy President was speaking at the launch of the new Volkswagen South Africa (VWSA) Parts... Continue Reading
DALLAS—- Kosmos Energy has announced that the company’s Mahogany-5 well has continued the successful appraisal of Jubilee-age reservoirs offshore the Republic of Ghana on the West Cape Three Points Block. The results of drilling, wireline logs and reservoir fluid samples show the Mahogany-5 appraisal well penetrated net hydrocarbon-bearing oil pay of 23 meters (75 feet) in good-quality sandstone reservoirs over a gross interval of 51 meters (167 feet). Reservoir fluid samples recovered indicate oil gravities in the range of 28-32 degrees API, and pressure data from the well confirms reservoir communication with the Mahogany-4 well drilled previously. Kosmos has successfully... Continue Reading
By JO-MARÉ DUDDY – NAMIBIA – Lean times will continue through the winter with food price analysts expecting more expensive meat, maize meal, fruit and vegetables. Releasing the latest First Capital Food Price Index, economist Martin Mwinga said the recent outbreak of foot-and-mouth disease in the north-east, as well as the outbreak of Rift Valley fever in the Hardap and Karas regions, “will put upward pressure on meat prices over the coming months”. He also expects fruit and vegetables to become more expensive, “partly due to increased demand during the World Cup”. Also driving fruit and vegetable prices will be... Continue Reading
By Shout-Africa – Angola, the world’s fifth-biggest diamond producer, is working on a new law for the mining sector that will regulate the way diamond companies will distribute their revenues from projects in the African nation, an official from state-run diamond company Endiama said. Under the new law, diamond companies will use 50 percent of their revenues to pay for operational costs. The remaining 50 percent will be used to pay taxes, investors and to help develop the local community, the official, Sebastiao Panzo, said. He gave no further details. The current law stipulates that mining companies in Angola pay... Continue Reading
By Shout-Africa News – Kenya Airways has launched daily flights to Juba, the capital of South Sudan from 7th June 2010. The new route becomes its 40th destination in Africa and 49th worldwide. The airline will operate direct flights on the 72seater Embraer jet daily from Jomo Kenyatta International Airport at 1140hrs, departing from Juba International Airport at 1420hrs. KQ will offer its seamless connection to anticipated passengers travelling from Juba to Europe and Far East as well as to the other 39 destinations across Africa. As has been the case with every new route launched by Kenya Airways, passengers... Continue Reading
