ESKOM’s search for a new chief executive has advance further, an indication that it is confident of winning the lawsuit brought by former head Jacob Maroga.

South African economic cluster ministers who visited the UK have sold the idea of opening up a free trade zone that will run “from Cape to Cairo” in which South Africa would be the leapfrog spot for trade and investment on the continent.

Mexico’s Carlos Slim beat Bill Gates and Warren Buffett for the top spot on Forbes magazine’s annual list of billionaires, becoming the first person from outside the US to lead the rankings in 16 years.

Old Mutual is exploring the disposal of US Life, a unit whose serial underperformance forced former chief executive, Jim Sutcliffe, to resign about 18 months ago.

Building and engineering group Basil Read lifted net profit 34 percent to R274.3 million for the year to December following good performances by its construction and mining divisions.

South Africa might need to enforce power cuts or raise electricity prices further if a disputed loan from the World Bank is not approved, according to government officials.

Standard Bank has been accused of the multi-million-rand theft of Internet security systems from a local company, according to news reports.

South African stocks closed in negative territory on Thursday, tracking softer markets in the US and Europe.

South African petrochemicals group Sasol started building a project to double its production of hard wax to maintain its market share of 40 percent of global consumption.

Insurer Old Mutual said it would sell its life unit and list its funds operation in the United States as part of a strategic overhaul.