Money News - In Brief

Mergers, Acquisitions and Financial Results

- Pretoria — Finance Minister Pravin Gordhan has announced a proposal that will bring about relief for Gauteng motorists with regard to e-tolling fees. Delivering his Budget Speech, Gordhan said a special approbation of R5.8 billion was being proposed to reduce the toll burden on motorists as a result of the Gauteng Freeway Improvement Programme (GFIP). The R5.8 billion is to be included in the 2011/12 expenditure. "This will reduce the debt to be repaid through the toll system, and will make a steeper discount possible for regular road users," he added.

- Malian fixed line incumbent Societe des Telecommunications du Mali (SOTELMA) is expected to begin trading on the Abidjan-based West African regional bourse by the end of June 2012, following a share sale to be conducted in April this year, Reuters claims.

- Econet Wireless Zimbabwe has announced in a public notice that as the Ecolife agreement with Trustco has expired, the mobile operator is unable to continue offering the mobile life insurance product. Econet says it will honor any claims from beneficiaries entitled to the cover as at midnight 17 February 2012.