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May 25 2012 13:58
The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
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 25 2012 11:36
The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
Johannesburg - South African power utility Eskom said on Thursday Jacob Maroga was no longer chief executive officer, putting an end to a long leadership battle at the troubled state-owned power group.
Eskom's acting chair Mpho Makwana told a press conference that he had been entrusted to run the company until the appointments of a new chair and CEO. Over the past two weeks, Maroga dismissed reports by Eskom's board members who said he had resigned at the latest board meeting following a clash with the company's chairman Bobby Godsell, who stepped down on Monday.
Maroga's tenure has been marked by power shortages, a record loss of R9.7bn in the year to March and electricity price rises criticised for stoking inflation as South Africa battles recession.
- Reuters