Archive for November 10th, 2007

source: Mmegi

The CEDA Venture Capital Fund has made an investment into BizCapital, a working capital financing institution focusing on small and medium sized enterprises, it has been announced.

CVCF identified BizCapital as an intermediary financial institution to enable equity capital to flow towards a major constraint of small business, which is cashflow for trading and working capital purposes.

The Fund has partnered with Reuben Morapedi as the promoter of BizCapital, a statement from CVCF says.

Having worked for a number of years in risk management, Morapedi recognised the working capital finance requirements in small and medium sized entities that [continue reading]

source: ZimNews
author/source:Zimbabwe Independent
published:Fri 9-Nov-2007

Members of the Mujuru camp were told they would lose their individual businesses and farms
Constantine Chimakure

The arrest of Attorney-General Sobusa Gula-Ndebele this week is part of President Robert Mugabe’s succession battle and signals the beginning of an onslaught on the faction that was backing Vice-President Joice Mujuru’s presidential aspirations. Impeccable sources said the crackdown on the camp led by retired army general Solomon Mujuru was timed to take place before Zanu PF’s five-day special congress starting on December 11 to coerce the camp’s members to rally behind Mugabe. Gula-Ndebele became the first casualty as Vice-President Mujuru made a dramatic announcement that she had never harboured presidential ambitions. The sources said Mujuru was compelled to make the announcement after it became clear that members of her camp were under sustained attack from the pro-Mugabe faction.

Inside sources said yesterday that Mugabe and his backers in the ruling party were turning up the heat on the Mujuru faction to [continue reading]

Shaun Benton

9 November 2007

South Africa is to ensure that as much as 85% of government spending on selected goods and services will be directed to small, medium and micro enterprises (SMMEs), while also ensuring that they are paid out within 30 days, government spokesperson Themba Maseko says.

Although the government already procures many products and services from SMMEs worth millions of rands, this is the first time that a specific target has been set.

Briefing reporters following a Cabinet meeting on Wednesday, Maseko said the spending would be directed at 10 products and services, while the 30-day payment rule for paying small enterprises would be implemented with immediate effect.

The 10 selected products and services include advertising, media and communication products and services; interior and exterior cleaning services and cleaning product supplies; clothing and [continue reading]

source: IOL
Henri du Plessis
November 09 2007 at 03:10PM

Nationwide Airlines has praised the captain and crew of Flight 723 as the heroes of the drama that unfolded at Cape Town International Airport this week.

Chief executive officer Vernon Bricknell complimented pilot Trevor Arnold, co-pilot Daniel Perry and the crew of the flight for their “heroic efforts” that averted disaster after a Boeing 737 jet lost one its engines on take-off on Wednesday.

On Thursday the company insisted the incident had nothing to do with maintenance or the age of the aircraft.

Rather, the company said, the plane had done what it was supposed to do if a foreign object was sucked in, causing dangerous vibrations that might damage the wing: shear off its engine.

Preliminary investigations yesterday showed the engine had broken off the aircraft’s starboard wing because of vibrations from damage done to [continue reading]