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Business pointers :: Sakeflitse

SA trade with Africa : A study by Whitehouse Research reveals that Mozambique has become the main destination for South Africa's exports into Africa, while trade with Nigeria is on the upswing - recording a 500% growth in the last four years. 18% of total South African exports into Africa are destined for Mozambique, which now beats Zimbabwe's 16%, while Zambia is the third-largest destination at 14%, followed by Angola 8%. About 6% of exports from South Africa are destined for Mauritius, while 5% got to Malawi, Kenya and Nigeria each, with Tanzania, the Democratic Republic of Congo (DRC) and Morocco with 4%, 3% and 2% rescpectively.

IMF expects SA to show 3% growth : The International Monetary Fund (IMF) expects South Africa's real economic growth to rise to 3% in 2003 and remain at that level over the medium-term. The Fund says in its medium-term outlook that South Africa's real output growth should reach 3% this year, depending on the implementation of medium-term budget framework, the achievement of inflation target, removal of rigid labour rules and the elimination of the net open forward position. However, the multilateral group cautions that attempts to curb unemployment remain uncertain because companies could continue relying on cost-saving technologies.

Mohale Dam leaves thousands without work : Thousands of Lesotho households have been left without a regular income after the completion of the Mohale Dam and with it, the first phase of the Lesotho Highlands Water Project. The Trans-Caledon Tunnel Authority, which runs the South African part of the project, says this is now placing pressure on labour markets in South Africa. A company spokesperson says commencement of the project's second phase, which should provide new employment opportunities for workers, has been postponed indefinitely due to a lower than estimated water demand from South Africa.

Platinum expansion : World No.2 platinum-group metals (PGM) producer Impala Platinum Holdings (Implats) plans to spend about R200-million over the next two years at its refinery at Springs on the East Rand, in a development aimed at increasing capacity from 1,5 million ounces of platinum a year to 2 million ounces. Among the PGM producers which deliver their matte to Implats' refinery, are Zimbabwe's Ngezi and Mimosa mines, both of which are situated on that country's Great Dyke, the world's second-largest known PGM deposit after South Africa's Bushveld Complex.

Gauteng's roads clogging up : Steadily increasing traffic is said to clog up the road network in Gauteng - condition of roads are back-logging while traffic volumes keep on rising. It is authoratively estimated that fewer than 40% of Gauteng roads are classified as being in a good or very good condition. By comparison, more than 80% of these roads were deemed to be in a very good condition in 1985. Moreover, studies have shown that the existing capacities of several major roads - most notably the N1 Ben Schoeman Highway linking Johannesburg and Pretoria - have already been exceeded with the total traffic volume for the Johannesburg-to-Pretoria corridor is calculated at 300 000 vehicles a day, with an occupancy rate of 1,2 people per car. Even more alarming is the fact that traffic volumes increase between 4% and 7% a year.

New prestigious Sandton complex : A new classicly designed residential office and shopping skyscraper, 33 storeys and 135 m high, is rising opposite the Sandton Convention Centre. Construction on the R630 million development started at the end of November last year and is scheduled for completion by February 2005. Linked to Sandton Square, the development will include a 4 500 m 2 lifestyle design centre with showrooms and shops. Already 80% of the apartments, ranging in size from 75 m² to the 800 m² king suite and costing between R1,2- million and R25-million each, has been sold.

New lease of life for Free State Goldfields : The economically depressed Free State Goldfields is to receive a considerable boost as a result of the purchase of seven “obsolete” gold mines for R2,4 billion in a 50-50 joint venture between South Africa's third-largest gold company. Harmony Gold, and the black-led ARMgold, now the world's tenth-largest gold oompany. The mines in question were being left for dead and buried and with them would have been 4 500 jobs, the number of people Free Gold now employs. However, under the partnership between Harmony and ARMgold, the new venture is moving full steam ahead and with that a new lease of life for the Free State Goldfields.

Sandstone Heritage Fair : The Sandstone Heritage Fair displaying an array of transport items from bygone eras, is to be held at the Sandstone Agriculture Estate between Ficksburg and Clocolan from 26 - 28 April 2003. Amongst the items will be the Sandstone steam railroad in operation, vintage aircraft, vintage cars and motorbikes, stationary engines, traction engines and vintage tractors, as well as trained teams of oxen ploughing and hauling ox wagons. For further details contact Teresa Momsen on cell 082 990 5639 or Madeleine Senekal on (051) 933 2235. Sandstone Estates is a huge agricultural enterprise involving considerable British investment.

East Rand pipes deep into Russia : East Rand-based pipe manufacturer, Amiantit Pipe Systems Africa (Apsa), which is a wholly-owned subsidiary of the Saudi stock exchange-listed Amiantit group, has received an order to supply water pipes to Turkmenistan.The R22 million order, for 15,5 km of 800-mm diameter glass-reinforced polyester (GRP) 16-bar water pipes and 3,5 km of 1 000-mm-diameter GRP six-bar water pipes, will be shipped from Durban harbour to Iran and then transported by road to the former Soviet Republic bordering the Caspian Sea between Iran and Kazakhstan.

KKK leading in world ostrich market : The Klein Karoo Co-operative headquatered at Oudtshoorn, has started construction of its third export-class ostrich abattoir at Swellendam in the Western Cape. The co-operative, which has 1 200 members in the Southern Cape, is the world leader in the ostrich industry, supplying about 70% of all ostrich meat, leather and feathers on international markets, Subsidiary Karoo Leather Marketing, the largest supplier of ostrich leather in the world,offers its products in more than 12 finishes and over 300 colours for clothes, accessories and automotive products.

USA bottomline : Amidst all the ballyhoo about the USA and its policies, the nett surplus on the American federal budget of $127 billion on 30 September 2001, swung to a deficit of $159 billion on 30 September 2002, while it is expected to escalate to a deficit of $200 billion for 30 September 2003 and $300 billion for 30 September 2004.