Tuesday June 7, 2011

From Creamer Media in Johannesburg, I’m Jessica Hannah

Making headlines:

US Assistant Secretary of State for Economic, Energy and Business Affairs Jose Fernandez has argued that the decision by Wal-Mart to invest $2.3-billion to buy 51% of JSE-listed retailer Massmart epitomised a growing enthusiasm among US firms for South African and African business prospects. Speaking on 'Africa in the US Policy Landscape', Fernandez says the US government and American companies are increasingly "eager" to pursue opportunities in Africa, but are also increasingly aware that competitive pressures are rising, not only from Europe, but also from emerging-market giants such as China, India and Brazil.

Tunisia's main Islamist party says that delays to a scheduled election date or changes to other plans for a new political order could "drag the country into a spiral of violence". The country that served as a springboard for a wave of Arab citizen revolts had been due to hold its first ballot since the overthrow of President Zine al-Abidine Ben Ali on July 24. But electoral monitors postponed it to October 16, citing technical hold-ups. Larger opposition parties are demanding an early poll, saying they fear the interim government may renege on its promise to lead Tunisia towards democracy.

State-owned power utility Eskom hopes to conclude more funding for its renewable energy projects in the near future, the utility, which secured a $365-million African Development Bank (AfDB) loan, reported on Monday.
Eskom would use the AfDB loan towards financing its 100-MW series wind project in the Western Cape and a planned 100-MW concentrated solar plant in the Northern Cape. The utility said that the AfDB loan formed part of a broader funding plan for renewable energy projects, which includes other development finance agencies.

Also making headlines:

African National Congress Youth League (ANCYL) chairperson Lebogang Maile says that the ANCYL in Gauteng will back its current president Julius Malema for a second term.

The Presidential Review Committee on State-owned entities (SOEs) has appealed for public submissions and contributions to the review of SOEs.

And, Libyan rebels entered the mountain town of Yafran yesterday, driving out Colonel Muammar Gaddafi's forces in a sign that Nato air strikes in the area may be paying off.

That’s a roundup of news making headlines today.