LAST WEEK'S TOP STORIES ON FTW ONLINE

SA cuts red tape
for foreign-owned
businesses
The department of trade
and industry (dti) has,
over the last few weeks,
completed partnership
agreements with all of
South Africa’s major
banks to reduce the time
it takes for a foreignowned
business to begin
operating in the country.
KZN MEC welcomes
major Chinese
investment in ICT
production facility
The investment
by the Shanghaibased
Yangtze Optics
Africa Cable (YOAC)
into the fibre optic
manufacturing facility
within Dube TradePort
has the potential to
“significantly bolster
South Africa’s efforts to
grow exports and expand
its communications
infrastructure”, according
to the KwaZulu MEC for
Economic Development,
Tourism and
Environmental Affairs,
Michael Mabuyakhulu.
Pick n Pay renews
R400m contract
with logistics major
Pick n Pay has renewed
its R400m, five-year
contract with Resolve
after the logistics
company saved them
R600m over a five-year
period.
R36m worth of
sub-standard goods
destroyed in 2015
Last year, the National
Regulator for Compulsory
Specifications (NRCS)
destroyed over
R36 million of substandard
goods which it
believes were dangerous
to consumers and the
environment.
Bulk carrier sinks off
coast of Madagascar
Panamanian-f lagged
bulk carrier, New
Mykonos, broke into two
and sank off the coast
of Madagascar after
being stranded for three
months, online news
sources report.
New Transnet
leadership team
named
Transnet has announced
a new leadership team
which, in the words of
group chief executive
Siyabonga Gama, is
designed to “reshape the
core of our business along
with our aspirations and
strategic thrusts of being
agile, admired, digital
and united”.