Good morning. This is all the latest business news that you need to know today.
1. Christo Wiese dumps R3.6 billion worth of shares in Shoprite
Christo Wiese on Tuesday offloaded R3.6 billion worth of his stake in Shoprite Holdings in a move that stunned the market and sent the company shares into a tailspin.
2. SA’s ‘construction mafia’ is spreading to Pretoria
The so-called “construction mafia”, which intimidate and harass builders on sites and demand work for their members, has spread its wings to Pretoria’s eastern suburbs of Arcadia, Menlo Park and Brooklyn.
3. Changes at the top as Telkom reshuffles
Telkom, South Africa’s largest landline operator, yesterday reshuffled its top executives as the group sharpens its investment team while eyeing deals.
4. See the salary increases SA can expect - PwC
Financial services PwC has released its HR report for June 2018, providing commentary on local and international developments in the people and reward arena.
5. EOH chief steps leaves to Nextec
EOH Holdings announced that its chief executive Zunaid Mayet has stepped down from his role to take over as the head of the group’s newly-created subsidiary Nextec, as part of the company’s restructuring process.
6. Volkswagen opens Rwanda's first car plant
Rwanda’s first domestically built car rolled off the assembly line at Volkswagen’s new factory in Kigali on Wednesday as Europe’s biggest carmaker taps into demand for ride-sharing to expand in the region.
7. Jaguar Land Rover promises a made-in-China electric car soon
Jaguar Land Rover is planning to build an electric vehicle in China as the iconic British manufacturer steps up its game in a fast-growing market where other luxury marques from Audi to Mercedes-Benz are plowing money to gain leadership.
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