Ministry checks on rebel threats on MTN, SacOil

The Ministry of International Relations and Co-operation will investigate threats against South African companies with investments in Nigeria by the Movement for the Emancipation of the Niger Delta (Mend). The movement has threatened to attack the holdings of companies including MTN Group and SacOil Holding, saying President Jacob Zuma was interfering “in the legitimate fight for justice” in the Niger River Delta region. Mend said it had attacked and damaged a pipeline belonging to a unit of Eni of Italy. “It’s a matter we’ll look into definitely; terrorism has to be rooted out,” Clayson Monyela, the spokesman for the ministry, said yesterday. “The authorities in Nigeria have always been responsive to acts that are unlawful and will deal with this as they always have dealt with such threats.” MTN was leaving security matters to the Nigerian and South African authorities and has no further comment, said Rich Mkhondo, a spokesman for the cellular operator. – Bloomberg

Barclays chief ‘to get bonus of £3m’

Barclays chief executive Bob Diamond would receive a bonus of up to £3 million (R36.2m) for his work in 2011, reports said yesterday. Britain’s Sunday Times newspaper said the head of the British bank could expect a bonus of £2m, while the Sunday Telegraph said the figure was likely to be between £2.5m and £3m. “On top of that, he received a salary of £1.35m and could be given long-term incentives worth as much as £6.75m which would vest in three years,” the Telegraph said. The exact amount will not be known until the second half of March, when Barclays publishes its remuneration report as part of its annual report. – Sapa-AFP

SA gives Cuba R350m assistance

South Africa has provided a R350 million aid package to its “Struggle” friend, Cuba, in a deal signed by Cuban ambassador to South Africa Angel Vila and South Africa’s Trade and Industry Minister Rob Davies. Davies said the agreement, which he described as an “economic assistance package”, which had been offered to Cuba during President Jacob Zuma’s visit to that country in December 2010, included a R40m grant for the purchase of seeds by Cuba to promote food security. He said it was a condition of the grant that R5m should be used to buy seeds locally. – Donwald Pressly