Good morning. This is all the latest business news that you need to know today.
The management exodus at Barclays Africa, soon to be renamed Absa, claimed its third victim on Friday, with the bank confirming that its head of consumer banking, Jan Moganwa, would leave the firm as its restructuring process heats up.
The latest Consumer price index (CPI) data published by Statistics South Africa showed that hotel prices in the Western Cape fell by 11.2% between May 2017 and May 2018.
3. Eskom, unions head for make or-break negotiations
Eskom and three unions will this week enter into do or die wage negotiations that would give an indication of the country’s energy security which has threatened to inflict further damage to the country’s hobbling economy.
4. Residential tenants payment trends deteriorating slightly
The percentage of residential tenants in good standing deteriorated to 82.3 percent in the first quarter of this year from 83.35 percent in the fourth quarter of last year, according to credit bureau TPN.
5. SABC names new executives in shake-up
Former Road Accident Fund (RAF) chief financial officer Yolande van Biljon will today start the unenviable task of sorting out the cash flow problems at the embattled South African Broadcasting Corporation (SABC).
6. Leaked SAP documents point to the Guptas
According to new leaked documents, SAP allegedly paid R100 million in commission to to a Gupta-linked company in order to secure contracts from Transnet and Eskom, reports Fin24.
7. ‘Remove the plundering managers’ – DA
Co-operative Governance and Traditional Affairs Minister Zweli Mkhize must instruct local councils to remove municipal managers and chief financial officers who “have plundered public money in the VBS heist”, the DA said yesterday.