How IDC was forced to invest in Oakbay

2017-12-10 06:00

A last-minute, hand-written amendment to a contract forced the Industrial Development Corporation (IDC) to trade R256 million for now-worthless shares in the Gupta family’s Oakbay Resources and Energy at inflated prices in 2014.

IDC legal action against Oakbay 'too little, too late' - banker

2017-11-24 18:26

The Industrial Development Corporation should have foreseen that it was risky to convert a loan to Oakbay Resources into shares, says a corporate banking principal.

SA can't be 'trust fund kid' living solely off mineral resources - Patel

2017-10-24 06:00

South Africa’s can’t be a "trust fund kid" living off its mineral resources but not developing new skills, Minister of Economic Development Ebrahim Patel told a group of entrepreneurs on Monday.

Multi-year budget system mooted for construction sector

2017-09-11 12:54

The Department of Economic Development is consulting with Treasury on the possibility of a multi-year budget system to mirror the build cycle of mega constructions, says Ebrahim Patel.

Patel: Corruption toll could be R27bn to GDP, 76 000 job losses

2017-08-31 21:30

The culture of "rampant acquisition" is spreading so widely that the professional standards of integrity that is a hallmark of functioning institutions are under enormous pressure, says Minister of Economic Development Ebrahim Patel.

State to focus on LPG proposals that cut gas costs

2017-08-13 06:02

The government will give priority to the proposals contained in the Competition Commission’s report on the liquefied petroleum gas (LPG) market that would have the best impact on lowering the cost of gas and improving market access in the sector.

Patel: Govt wants workers to become shareholders

2017-05-26 06:00

Economic Development Minister Ebrahim Patel announced that government will look to create opportunities for workers to participate as shareholders in companies.

Govt's new R1.5bn steel fund to help SMMEs - Patel

2017-05-25 19:13

Government will make a R1.5bn steel competitiveness fund available which will be administered by the IDC, says Economic Development Minister Ebrahim Patel.

Patel: State capture could wreck radical economic transformation

2017-04-24 16:06

Corruption, maladministration of public institutions and state capture will undermine radical economic transformation efforts, says Economic Development Minister Ebrahim Patel.

SA economy still in slo-mo

2016-12-18 06:03

The economy will recover and avoid a recession, but will continue to grow more slowly than many countries in Africa, says Finance Minister Pravin Gordhan.


Subtlety over brute force

2017-12-03 13:01

New Competition Act drastically changes the enforcement landscape and focuses on concentration of ownership.

Patel orders Oakbay to pay back R293m

2017-11-23 21:22

Minister of Economic Development Ebrahim Patel gave Gupta-linked company Oakbay Resources until midnight on Thursday to pay back R293m to the Industrial Development Corporation.

Patel warns of complacency in beneficiation

2017-09-17 14:10

Economic Development Minister Ebrahim Patel says more needs to be done to implement beneficiation, but shares on the progress that has been made so far.

Patel: Structural features diminish effective competition, limit inclusivity of growth

2017-09-01 06:00

Given economic concentration and social exclusion, it is time for practical approaches to high levels of concentration in the economy, says Minister of Economic Development Ebrahim Patel.

ConCourt ends four year scrap metal legal battle

2017-08-14 18:44

The Constitutional Court has dismissed an application by SA metal Group to challenge the state’s scrap metal export provisions.

This is what changes to the Competition Act could look like

2017-06-04 13:56

Competition law expert Gomolemo Kekesi shares her views with Fin24 on what changes to South Africa's Competition Act, which is currently before Cabinet, could entail.

Radical changes to competition law underway

2017-05-25 21:12

SA’s Competition Act will undergo radical changes so that competition authorities can act against companies who perpetuate skewed ownership structures.

Liquified petroleum gas price could be deregulated

2017-05-07 06:10

The price of liquified petroleum gas should be deregulated once South Africa has the facilities to import large quantities of the gas, the Competition Commission has recommended.

Patel: No timeframe yet for IDC/NEF marriage

2017-03-27 18:39

There is no timeline yet for the proposed amalgamation of the Industrial Development Corporation and the National Empowerment Fund, says Economic Development Minister Ebrahim Patel.

Numsa congress: Danny stands in for Thuli

2016-12-15 07:26

Former public protector Thuli Madonsela was advertised as the guest speaker at the Numsa gala dinner, but actor and human rights activist Danny Glover has stepped in.

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