ORGANISING COMMITTEE EARNINGS COULD REACH $100m - JORDAAN - South Africa's 2010 Local Organising Committee (LOC) is expecting to show a surplus of between $77-million (about R577-million) and $100-million (about R750-million) on its books once the final whistle blows on the 2010 FIFA World Cup on July 11 - the proceeds will flow to the South African Football Association (Safa). However, this surplus will also be dwarfed by the estimated $1-billion in profit that is likely to flow to FIFA, on revenue of between $3,2-billion and $3,4-billion - making Africa's first World Cup the most profitable in FIFA's history. CEO Danny Jordaan says that the surplus to Safa will arise should the LOC successfully remain within the confines of a $423-million budget ($200-million of which was funded directly from FIFA) and should ticket sales continue to exceed initial forecasts. The LOC had been budgeting to earn $203-million from ticket sales ahead of the tournament, but sales have already surpassed $310-million.
INQUIRIES ON SoEs WILL COMPLEMENT EACH OTHER - The two review processes into State-owned enterprises (SoEs) will complement each other and be "synthesised" into a single report to help Cabinet make policy decisions, the Presidency says. Harold Maloka, spokesperson for Collins Chabane, Minister in the Presidency for Monitoring and Evaluation, says that the two reviews will run parallel to each other. A review of the SoEs, run by Public Enterprises Minister Barbara Hogan and Finance Minister Pravin Gordhan was set up by Cabinet, while President Jacob Zuma set up his own review committee, headed by former Absa corporate affairs executive Mangwashi Phiyega, in March. Reports say that Hogan and Gordhan's review has been halted by the Presidency, until the Presidential review has been completed. However, Chabane says that Zuma has decided to set up a two-pronged review of SoEs after the Medium-Term Strategic Framework for 2009 to 2014 indicated that there was a need for a review of SoEs as part of the economic transformation agenda.
Africa & the world
CIVIL SOCIETY URGES ACTION ON ZIMBABWE DIAMONDS - Civil society groups have urged diamond trade regulators to suspend ties with Zimbabwe because of human rights abuses in its Marange diamond fields. A meeting in Israel of delegates from some 70 countries in the Kimberley Process (KP), a certification scheme set up to monitor diamond trades, will focus on trade in Zimbabwean gems after pressure on the regulatory body to tackle rights abuses. "Zimbabwe has been failing to meet the minimum requirements of the KP for a number of years now and we call on the KP to suspend Zimbabwe's membership," says Annie Dunnebacke, of the London-based watchdog group Global Witness. Civil society groups, which are part of the KP, are facing public calls to leave the regulatory body, given its failure to suspend trade in diamonds from Zimbabwe. "The situation of nongovernmental organisations in the KP is becoming more and more difficult to explain," Dunnebacke says. "So, if it becomes ever more difficult for us to explain our position at the table, then we may not be able to be here anymore."
SOUTH SUDAN CREATES PEACE MINISTRY IN NEW CABINET - South Sudan's President, Salva Kiir, has created a Ministry of Peace as part of a new Cabinet as the oil-producing region prepares for a referendum that could see it split away as an independent country. Southerners are widely expected to choose secession in the vote that is promised in the 2005 Comprehensive Peace Agreement (CPA), which created a semiautonomous southern government and ended more than two decades of civil war with the north. Kiir has named Pagan Amum, secretary-general of his Sudan People's Liberation Movement, the south's new Minister of Peace and CPA implementation, according to a copy of the Presidential decree. It is expected that Amum will take a leading role in the countdown to the referendum. Northern and southern leaders have yet to resolve flashpoint issues, such as the position of their shared border and the sharing of oil revenues and debts in the event of a split.