Last week when Public Enterprises Minister, Pravin Gordhan, announced that the Takatso consortium, headed by Harith General Partners, would acquire 51 per cent of beleaguered state-owned airline SAA, the financials around just how the transaction would be funded were left murky, reports Business Day. Harith will not commit any of “its existing private equity infrastructure …
Questions over funding land SAA in turbulent weather Read More »
South Africa woke up to a weaker rand following a public holiday yesterday in the country. The local currency traded above R14 to the US dollar after the Federal Reserve tilted toward tightening policy, aiding the greenback. Fed Chairman Jerome Powell said that officials would begin talks on tapering massive asset purchases while penciling in …
While you were asleep: Rand breaks above R14/$, former Eskom chair Jabu Mabuza dies Read More »
South Africa is back at Alert Level 3. The new restrictions on movement are necessary to save lives, President Cyril Ramaphosa said in a televised address on the eve of Youth Day celebrations, as eight of the nine provinces are experiencing rising infections, and four of them are officially in a third wave. The country’s …
While you were asleep: Restrictions place dampener on Youth Day celebrations Read More »
The rand traded in a narrow band with choppy trades between R13.70 and R13.80 on Tuesday, ahead of Youth Day, a local public holiday commemorating the Soweto uprising on June 16 1976, and ahead of the release of the latest US FOMC meeting minutes. According to TreasuryONE the market is pricing in a fairly dovish …
Daily Markets Wrap: Markets subdued as focus turns to FOMC Read More »
Paper and plastics packaging products company Mpact reported a 16% jump in group revenue to R4.8bn for the first five months to 31 May 2021 compared with the same period the year before. The group said in a trade update that trading for the period under review has been strong, with underlying profit exceeding pre-pandemic …
Mpact investors bag profits on positive trade update Read More »
Tomorrow is Youth Day. It will be the 45th year that we remember the hundreds of young students lives lost in clashes with apartheid police during the Soweto uprising on June 16. With youth unemployment at a shockingly high 63.3% for 15 to 24-year-olds and 41.3% for 25 to 34-year-olds, it is time to turn …
The rand wilted to a 12-day low, as the currency’s 2021 rally ran into some turbulence, reports Reuters. According to TreasuryONE there has been little in the way of the market providing much liquidity, keeping the rand trading in check in a narrow band of 10c. “We saw the rand touch the R13.80/$-level, but the …
Markets Wrap: Rand wilts, commodities mixed, and equities fall out of bed in New York Read More »
Embattled South African Health Minister Zwile Mkhize was placed on special leave by President Ramaphosa but is yet to be found guilty of a crime or corruption in the ongoing scandal surrounding Digital Vibes. But News24 editor Adriaan Basson believes that Mkhize should have been hauled over the coals for a much more egregious offence. …
Opinions of the Day: Why isn’t Mkhize held to a higher standard? Read More »
Eskom’s group capital division is at the centre of a criminal web that fleeced companies working on the Kusile Power Plant Project to the tune of around R15 million. An investigation into the misconduct by senior Eskom officials has led to many being suspended, reports News24. Law firm Bowmans worked together with Eskom to identify …
Eskom’s Kusile used as cover for improper payments Read More »
As South Africa’s vaccination drive suffered a huge dose-contamination setback just as the third wave of infections is gathering pace, parts of the world are readying to drop the mask. In Germany, the health minister recommended ending the mask mandate for outdoor activities as infections recede, and in the US Apple plans to drop its mask requirement …
While you were asleep: The two sides of the Covid coin Read More »
