African countries have joined the list of nations wanting an end to a US veto on judicial appointments at the World Trade Organization (WTO), a statement showed on Wednesday, meaning a large majority of WTO member States now openly oppose the US position. The US is blocking new appointments because it says members of the [...]

Auditor General Kimi Makwetu on Wednesday revealed irregular spending at South Africa's municipalities decreased from R29.7-billion to R25.2-billion, but added the latter figure was likely to climb. Releasing the 2017/18 audit outcomes of municipalities, Makwetu said the irregular spend contributed to several municipalities' audit outcomes regressing - with only 18 clean audits recorded and only [...]

A Nigerian judge on Wednesday adjourned until October 29 a case to resolve a $2-billion tax dispute between telecoms company MTN Group and the country's attorney general. The attorney general demanded South Africa's MTN pay the $2-billion in September. The company has said the tax payment demand is without merit, it does not owe the [...]

Platinum group metals mining and marketing company Northam Platinum on Wednesday announced the company’s decision to recommence operations in the new 2020 financial year at the Kukama shaft situated at the Eland mine complex in Brits. Total developmental capital expenditure is estimated at R2.2-billion over five years and the  project will be fully funded from [...]

Volkswagen and FiatChrysler could face penalties of up to €1.83-billion and €746-million respectively, if they fail to meet the European Union's emissions targets set for 2021, according to AlixPartners. The study by the consulting firm, which was published on Wednesday, shows how hard it is for carmakers to meet European rules for cutting average fleet [...]

South Africa is working on a policy to govern the development of oil and gas resources after calls by potential investors to shield the industry from a long-running debate over laws that apply to mining exploration. The finalising of oil legislation has become more urgent since Total announced the first significant deep-water oil find off [...]

The Organisation Undoing Tax Abuse (Outa) says a Cape High Court case on Friday will determine the fate of South Africa’s strategic crude oil reserves that are worth more than R9.3-billion. Outa states that, between December 2015 and January 2016, South Africa’s strategic oil reserves had been sold illegally to several companies without due process [...]

Diversified chemicals group Omnia will, over the next two years, focus on improving the profit margins of its companies’ services and products, ensuring that its assets and investments deliver value, as well as on pursuing international expansion of intellectual property-based businesses that offer good prospects without requiring large capital investments, Omnia group MD Adriaan de [...]

The Department of Water and Sanitation (DWS) is taking legal action to force an Eastern Cape municipality to stop polluting the Great Fish River, it said on Monday.  DWS’ Andrew Lucas, responsible for water regulation in the Eastern Cape, said in a statement that legal action was being taken against the Inxuba Yethemba Local Municipality [...]

Zinc and copper exploration and development company Orion Minerals pleasantly surprised the market on Monday when it announced a bankable feasibility study (BFS) that paves the way for financing, concentrate offtake and mine construction of the Prieska project in the Northern Cape. The BFS calculates payback at 2.9 years from the start of production from [...]

President Cyril Ramaphosa’s latest pledge to support Eskom Holdings is good news for the cash-strapped electricity company -- but some investors are balking at the prospect of increased sovereign-bond issuance to pay for the bailout. Ramaphosa told lawmakers last week South Africa would bring forward part of the R230-billion rearmarked for Eskom over the next [...]

A federal court in Lagos on Monday adjourned until 22 July a case brought by local oil firm Oando to halt management changes the country's securities and exchange commission is trying to enforce. The SEC's action followed an investigation in which it allegedly found evidence of financial infractions by the company.