VENTURES AFRICA – South Africa’s telecommunication giants, Vodacom, MTN and Dimension are preparing for a hostile takeover of Neotel, the country’s fixed line operator, it emerged on Friday. It was speculated on Friday that these JSE-listed companies were at an advanced stage to take over the company. A well-placed source told Ventures Africa: “Things look [...]

VENTURES AFRICA – Sanlam, South Africa’s second biggest life insurer, on Friday said it was poised to acquire 49 percent stake in Malaysian short term insurer Pacific & Orient Insurance (POI) for R814 million ($86.5 million) “All conditions precedent have been met to conclude the acquisition… and the effective date of the transaction is 17 [...]

VENTURES AFRICA – Miners at JSE-listed Anglo American Platinum mine demanded an audience on Friday with President Jacob Zuma to solve the mine labour dispute, saying, otherwise the economy will “come to a stand still.” Joseph Mathunjwa, head of the Association of Mineworkers and Construction Union (AMCU), accused the ruling African National Congress (ANC) party [...]

VENTURES AFRICA – In a rush to seize multi-billion kenyan shillings mining deals, TransCentury, on Friday said it has capitalised civil engineering firm, Civicon Group, with Sh1 billion ($12 million). Nairobi-listed investment holding company disclosed this information in its latest annual report. It said Civicon will spend the money to acquire heavy duty equipment for [...]