Nigerian Oil Union Opposes Chevron's Sale of Downstream Unit

By Dulue Mbachu

Sept. 24 (Bloomberg) -- A Nigerian oil union said it will resist Chevron Corp.'s sale of its fuel-marketing business in the west African nation, deepening a labor dispute.

Union members of the Petroleum and Natural Gas Senior Staff Association of Nigeria have been on strike at Chevron's downstream headquarters in Lagos for about two weeks. The industrial action has not affected production from oil and gas fields.

http://www.bloomberg.com/apps/news?pid=20601116&sid=a6FjYrTx5Xvo&refer=africa

South African Rand Rises After Manuel Says Ready to Serve Again

By Lukanyo Mnyanda

Sept. 24 (Bloomberg) -- South Africa's rand rose for the first day in three after former Finance Minister Trevor Manuel said he was ready to go back to his job in a new government.

The currency had its biggest drop in a week yesterday after Manuel, along with Deputy President Phumzile Mlambo-Ngcuka and 10 other ministers quit the government following the ouster of President Thabo Mbeki over the weekend. The resignations fueled concern the country's new leaders will boost spending and allow record inflation to accelerate.

http://www.bloomberg.com/apps/news?pid=20601116&sid=ajVPNJuLMiOs&refer=africa

AU dismisses worry over Zimbabwe with Mbeki gone

Wed 24 Sep 2008, 6:48 GMT

By Leslie Wroughton

UNITED NATIONS (Reuters) - African Union Chairman Jakaya Kikwete on Tuesday dismissed concerns that the ousting of South African President Thabo Mbeki could jeopardize a Zimbabwe power-sharing deal he helped negotiate.

"No cause for alarm, the South African government remains," and will continue to focus on the issue, Kikwete, who is president of Tanzania, told the U.N. General Assembly.

http://africa.reuters.com/top/news/usnJOE48N00K.html

Motlanthe needs to act swiftly to allay fears

Melanie Gosling
September 24 2008 at 10:34AM

It was naive of Jacob Zuma and the ANC national executive to think the axing of President Thabo Mbeki would not create a fall-out that would affect the economy and the entire country, political commentators said on Tuesday.

Reacting to the exodus of ministers on Tuesday, they criticised the ANC's national executive committee for putting its internal power struggles before the welfare of the nation, and said ANC deputy president Kgalema Motlanthe would have to act swiftly to restore stability and confidence after being sworn in as president tomorrow.
http://www.iol.co.za/index.php?set_id=1&click_id=594&art_id=vn20080924062755430C971676