THIS DAY IN BUSINESS AT 12:50PM TODAY IS TUESDAY, THE 15TH OF OCTOBER , THE 288TH DAY OF THE YEAR , THERE ARE 77 DAYS REMAINING BEFORE THE YEAR ENDS . LOCALLY IN BUSINESS HISTORY 1.Queen Victoria issues charter for the formation of the British South Africa Company 1.Ngonyaka ka 1889 South Africa effectively became a British colony in 1795. This led to great number of changes, such as the expansion into the interior of South Africa and the discovery of gold and diamonds. By the mid-nineteenth century, the mining industry was well established, particularly under the leadership of Cecil John Rhodes, a politician and mining magnate, who sought to further the influence of the British Empire over the African continent. A royal charter was sought to establish a company, based on the British East India model (BEIC), in which this goal could be achieved. On 15 October 1889, Queen Victoria issued such a charter, and the British South Africa Company (BSAC) was established. Trade was undertaken with various African leaders, often unscrupulously, in which vast amounts of land were acquired. The BSAC recruited its own army, which it used to defeat the Matabele and to establish a colony, later known as Rhodesia (Zimbabwe). The charter was extended to 1914, but was eventually revoked in 1923 as the White settlers in Southern Rhodesia grew tired of company administration. Shares of the BSAC were eventually consolidated in various mining companies, one of which is Anglo American. 2.Five ANC leaders are released from prison 2.Ngonyaka ka1989, five of the eight African National Congress (ANC) long term political prisoners were released from Robben Island. Among those leaders who were set free were Walter Sisulu, Ahmed Kathrada, Raymond Mhlaba, Endrew Mlangeni and Elias Motsoaledi. Three of the eight prisoners who were released before and after 1989 were, Dennis Goldberg (1985), Govan Mbeki (5 November 1987) and Nelson Mandela (11 February 1990). They were arrested on 11 July 1963 when security police raided Liliesleaf Farm which was the ANC’s underground headquarters after movement was banned in April 1960 under the Unlawful Organisation Act. During the raid scores of ANC leadership members and uMkhonto weSizwe commanders were apprehended and a large number of ANC documents were confiscated. The trial became known as the Rivonia Trial. On 11 June 1964, almost a year into the trial, Judge Quartus de Wet delivered his verdict, where all the accused were found guilty with the exception of Rusty Bernstein as the evidence against him was not sufficient. 3.South African Parliament repeals The Separate Amenities Act of 1953 .Ngonyaka ka 1990 The Reservation of Separate Amenities Act, Act No 49 of 1953, formed part of the apartheid system of racial segregation in South Africa. The Act enforced segregation of all public facilities, including buildings, and transport, in order to limit contact between the different races in South Africa. The Act also stated that the facilities for different races did not need to be equal. In practice then, the best facilities were reserved for whites while those for other races were inferior. The act was part of the system of petty apartheid, the name given to apartheid laws concerned with the regulation of day-to-day life, most notably the Immorality Act, Mixed marriages Act, and the Separate Amenities Act. Petty apartheid is sometimes compared with similar Jim Crow laws in the United States. Unlike Jim Crow however, petty apartheid made no effort to create the legal fiction of separate but equal public facilities. catch this day in business history tomorrow at 12:50pm
Posted on: Tue, 15 Oct 2013 11:25:17 +0000
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