South African cement manufacturer PPC has unveiled a black economic empowerment transaction that will see a 15% stake in the company, valued at R2.7-billion, being transferred to employees, an educational trust, a construction industry trust, two community service trusts and strategic black partners.

With the short-term inflation outlook likely to improve and the economy expected to weaken further, the SA Reserve Bank is likely to keep rates on hold for the rest of the year, says Nedbank Group's economic unit.

The attitude of credit bureaux has dramatically improved following the introduction of the National Credit Act, says National Credit Regulator CEO Gabriel Davel. The law has resulted in the registration of some 3 200 lenders and 480 debt counsellors, as well as the regulation of R1.1-trillion in credit.

Black empowered mining group Mvelaphanda Resources has increased its stake in Northam Platinum to 63%, in a R4-billion deal which will create the fourth-largest platinum producer in the world, as well as the first fully integrated, black-controlled platinum mining company.

South Africa's economy remains in good health despite a slowdown in consumer spending, with 80 new investments to the value of R336.1-billion being announced for the first half of 2008. While the bulk is attributable to Eskom's expansion, private sector investment amounts to R72-billion.