Weekly Press Review – 31 October 2017

 Transnet has instituted a group-wide investigation into its contracts and suppliers amid the rampant allegations of rent seeking and kickbacks at state-owned companies.

 According to the press, chief executive Siyabonga Gama said that the company was dealing with allegations of wrong-doing in its contracts, insisting that the problem was not about Transnet governance processes or integrity, but about suppliers.

According to the press this week, there is a growing optimism about the potential of Africa’s oil and gas development, given the sustained increase in crude oil prices.

Speaking at the open session of the 24th Africa Oil Week conference, held in Cape Town last week, Energy Minister David Mahlobo said, “This bodes well for many of the continent’s economies that had suffered when there was a downturn in commodity prices.”

Also making headlines this week is a statement from Premier Fishing and Brands saying that it would continue to grow its business both organically and through acquisitions in the future as it sought to diversify its portfolio.

“We will continue to grow our business organically and by acquisition, as well as focus on the expansion of our product basket to meet our customer’s demands,” said chief executive Samir Saban.

According to the press, despite the fishing season officially beginning on October 1, the delegated authority, Siphokazi Ndundane, has yet to determine the global rock lobster total allowable catch (TAC) for the commercial offshore and near-shore, small scale and recreational sub-sectors.

The Collective representing thousands of small-scale fishers from coastal near-shore fishing sectors says that the system used to allocate West Coast rock lobster fishing rights remains skewed and does not benefit small-scale and near-shore fishers.

Spokesperson for the fishers, Pedro Garcia, says, “When they eventually finalise the allocation for the TAC for the rock lobster, it will be percentages and not kilos. This will not address the imbalances in a system that still only caters for the commercial companies and keeps the indigenous and traditional fishers marginalised.”

Garcia added that the collective still felt that the best solution at this point would be to suspend the current allocations and implement interim relief for a period of three years.

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