Economic & Industry News Snippets

Proposed Labour Laws Referred

Labour Minister Membathisi Mdladlana denied that the proposed amendments to the Basic Conditions of Employment and Labour Relations Acts are shoddily written and that the Cabinet had refused to accept it. “The Bills are being discussed by Cabinet Committees, Cabinet Clusters and Government Departments and it is incorrect to say the Bills have been thrown out in Cabinet because they have not been in Cabinet yet," he said.

Italtile Intends Growing Low-Income Market

JSE listed Tile and Hardware retailer announced that the company’s CTM brand, which targets middle-income consumers, accounts for 80% of its turnover but the lower end of the market could make up half of its turnover within 10 years. CEO Gian Paolo Ravazzotti said there was great potential for its Top T brand now limited to 11 stores in small outlaying markets.

Huge Costs of Road Accidents

Studies conducted by the Department of Transport and Human Sciences Research Council (HSRC) indicate a need for all road users to understand the major cost impact that road accidents have on the health care system in South Africa. Current direct and indirect costs of fatal vehicle crashes are estimated to top R1.23 million per incident. Damage only crashes cost in the region of R74 000 per crash. Almost one million road crashes were reported to the SAPD during 2008 which places a huge impact on the public and private healthcare systems.

New Hydroelectric Scheme Announced By Mozambique

Currently the Cahora Bassa Hydroelectric Scheme exports 60% of its power generated to ESKOM and 35% to the Zimbabwe Electricity Supply Authority with the balance used locally. The Energy Minister was recently quoted announcing the new Mphanda Nkuwa Hydroelectric Scheme to be constructed 60 km downstream from Cahora Bassa on the Zambezi River which will produce 1 500MW of power. The project is expected to commence next year.

Cape Concrete Agrees To Pay R 4M Fine

In terms of a negotiated settlement agreement reached with the Competition Commission, Cape Concrete agreed to pay a penalty of R4 m related to cartel conduct in the precast market in South Africa. Cape Concrete also agreed to provide evidence, written or otherwise, concerning the contravention which resulted from a leniency application the Competition Commission received from Rocla Pipes during December 2007 regarding its participation in a cartel in the precast concrete market. The Commission have previously reached settlement agreements with Infraset, Concrete Units and Cobro.

Pieter Rautenbach