Johannesburg – Stern words, standing ovations, and raw emotions dominated the final send-off for ANC veteran Ahmed Kathrada on Wednesday.
Friends, family, dignitaries, activists and struggle veterans said their last goodbyes to Kathrada at the Westpark cemetery, Johannesburg. Throngs of mourners gathered at the Houghton mosque early on Wednesday morning before heading to the cemetery for the last rites.
The 87-year-old stalwart’s coffin arrived draped in an ANC flag in a marquee almost filled to capacity.
Mourners sang revolutionary songs and veterans and former [...]
Global companies were supposed to be more efficient, leveraging resources from across the world, from places where they are best sourced, to create value on an unprecedented scale. That seemed to be the case in fact.
Western multinationals used cheaper labour in underdeveloped countries to manufacture products that relied on inputs from all over the world and technologies developed in their more expensive labour markets. Studies now suggest these advantages are being lost. Labour is no longer as cheap in many places.
In China, for example, lifestyles are becoming increasingly aspirational – more Chinese are now seeking the good life and consequently demanding higher [...]
South Africa’s MTN Group has appointed Rob Shuter as chief executive after the mobile phone network company announced a R2.6bn ($198m) loss in earnings in 2016. Shuter, who previously worked for London-headquartered Vodafone, was appointed on Monday to head up the revamped senior management team, following the completion of a strategic review.
MTN’s earnings loss was the first time in its 23-year history that the telecoms giant had reported a fall in income. Meanwhile, pre-tax profits fell from R36.5bn ($2.8bn) in 2015 to R18.2bn ($1.4bn). However, MTN’s consolidated revenue increased year-on-year by 0.4% in 2016 to R146bn ($11.1bn), while its subscriber base in Africa and the [...]
South Africa’s economy contracted to 0.3 percent in the last quarter of 2016, due to a fall in mining and manufacturing production.
According to the country’s statistics office, the shrinkage in the two key sectors of the economy pulled growth into negative territory.
Figures from the agency indicate, the mining industry’s 11.5 percent drop in production was the main contributor to the economy’s slowdown, brought about by a fall in production of coal, gold and other metal ores, such as platinum and iron ore. While manufacturing dropped by 3.1 percent.
Overall, the economy grew by 0.3 percent last year compared to 1.5 percent in 2015.
Africa’s most [...]