Barclays Plc chief executive officer, John Varley, said the United Kingdom-based bank is committed to its South Africa subsidiary, Absa Group Ltd, which it bought for $4.48 billion in 2005.
One does not need licensing to construct a power plant in South Africa if it is for “own use”. Business can install power plants for own use without a licensing requirement. What about when it comes to municipalities if you develop a waste-to-energy project as a municipality. Would this still be defined as “own use”?
Last year’s recession has been hard for many South Africans, judging by employment losses (some 400 000 formal jobs gone), house foreclosures, nominal house price declines, reduced income and spending, the actual contraction in credit outstanding, huge bank bad debts written off, stock market still 20% off its all-time high and falling economic activity generally during 2009.