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May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a considerable reduction in the local petrol price is anticipated, says governor Gill Marcus.
May 24 2012 15:29
The Reserve Bank will maintain current interest rates, says governor Gill Marcus.
May 24 2012 12:00
Britain fell deeper into recession than initially thought in the first quarter of 2012, upping chances that the central bank could inject more stimulus into the economy.
Johannesburg - Human Settlements Minister Tokyo Sexwale will resign as executive chairperson of the Mvelaphanda Group following his appointment to Cabinet, he said on Tuesday.
"I will be departing as the chairperson of Mvelaphanda, I will not be on any boards. I just became a minister only yesterday [Monday] afternoon so we are sitting with lawyers," Sexwale told SABC radio after being sworn in as the new minister of human settlements, which replaces the former housing portfolio.
He dismissed reports of a probe into his business interests as sensationalist.
"It sells newspapers. There's no probe that is happening. It's about the severing of ties with the office in which I had been," said Sexwale, a former Gauteng premier and one of the richest black businessmen in the country.
Asked if he would be relinquishing all his assets in the private sector, Sexwale replied: "No, you can't relinquish assets. I can't throw them into the sea.
"It's about operations. I cannot work in the private sector. It doesn't mean you cannot own in the private sector. I cannot work there; I'm not operational," said Sexwale.
Mvelaphanda Group has investments in construction, banking and property.
- Sapa