Ebrahim Patel News
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Raubex Group Ltd., a South African road builder, is seeking contracts in sub-Saharan Africa to offset weaker margins in its home market, Chief Executive Officer Rudolf Fourie said.
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Eighteen South Africa construction companies, including the six biggest, have admitted to price- fixing and collusion, Economic Development Minister Ebrahim Patel said.
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South African Economic Development Minister Ebrahim Patel said labor unions, which have organized a series of strikes this year, must commit to increasing productivity as they demand higher wages.
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South Africa is considering building an integrated metal-processing factory that would require an investment of 15 billion rand ($2.05 billion) and have the potential to create 7,000 jobs, Economic Development Minister Ebrahim Patel said.
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South African Economic Development Minister Ebrahim Patel presents details on his New Growth Path, which aims to create 5 million jobs over the next decade, to lawmakers at 9 a.m. in Cape Town.
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South Africa’s new growth plan provides a fair balance between what the state and businesses can do to create jobs and boost economic growth, Economic Development Minister Ebrahim Patel said.
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South African investment in “green energy” such as hydropower, solar energy and biofuels may create 300,000 jobs in 10 years, Economic Development Minister Ebrahim Patel said.
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South African antitrust conditions imposed on Wal-Mart Stores Inc.’s acquisition of a controlling stake in local retailer Massmart Holdings Ltd. are insufficient and need to be tightened, government ministers said.
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South African Reserve Bank Governor Gill Marcus said the rand may strengthen as its decline beyond 9 to the dollar is overdone.
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South African Economic Development Minister Ebrahim Patel said growth in Africa’s largest economy is being restrained by structural issues, such as a shortage of skills and lack of competition.
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