Grahamstown bank raises its assets by a quarter
Business Report, 9 July 2004

Grahamstown-based GBS Mutual Bank increased its assets by almost 24 per cent to R371,8 million in the financial year to March, aided by significant growth in investments made with the bank and the expansion of the asset-based finance operations in the Western Cape through its Cape Town branch.

In its 127th annual report, the bank reported that share deposits grew by more than 60 per cent to R47.95 million, while fixed and other deposits increased just over 20 per cent to R284 million.

The growth largely came from Grahamstown and Port Alfred, which the bank said was in line with its stated policy of becoming the bank of choice in its prime operating region.

Moves afoot to get popular Apple Express back on track
The Herald, 8 July 2004

THE famous Apple Express could be in operation as soon as 28 August, just in time for the Great Train Race says Lesley Lowe, ward councillor for Humewood, who is spearheading the campaign to keep the train on the tracks.

The embattled narrow-gauge train which has been operating since 1902 stopped operating four months ago as there was no formal agreement between Spoornet and Port Elizabeth Apple Express, a section 21 company formed to save the train.

Now Spoornet has agreed to temporarily lease the narrow-gauge line and Humewood station to the Section 21 company for six months and give it opportunity to consider Spoornet’s conditions for a permanent agreement.

“Our re-negotiation of the agreement with Spoornet depends on the approval of our application by Transnet Heritage to have the line declared a heritage site,” said Lowe.

Budget airline to start flying from EL on 28 July
The Herald, 2 July 2004

South African budget airline 1time has announced it is to open ticket sales for a further expansion of its air services, effective from 28 July.

The airline will introduce a daily return air service between Johannesburg and East London and increase frequencies on the Johannesburg-Durban route to three return flights a day.

"The increased capacity is a direct response to market demand," the airline said in a statement. "After four months of operations, 1time has carried over 100,000 passengers," it added.

Casino hotel wins service award
Daily Dispatch, 1 July 2004

Service at the Holiday Inn in the Hemingway's casino complex has been rated as the best of all of the Southern Sun group’s 80 hotels including properties elsewhere in Africa and the Seychelles, the chain's operations director Andrew Rogers said.

The service was rated by chain customers who are contacted by independent staff and asked about their hotel experiences.

He said it was very unusual for any hotel to feature in the top customer service ratings until well after it was five years old.