The Lethabo Power Station outside Johannesburg, operated by Eskom. The crisis-racked utility was McKinsey’s biggest contract in Africa. Taking it on has become the worst mistake in the storied management consultancy’s nine-decade history. Picture: Gulshan Khan/The New York Times

Good morning. This is all the latest business news that you need to know today.
 

1. Jabu Moleketi rejects Holomisa claims

 Former deputy finance minister Jabu Moleketi has rejected claims by UDM leader Bantu Holomisa that the Public Investment Corporation (PIC) made special financial concessions to politically exposed individuals. 

2. Dudu Myeni caught up in SAA web of blame

National Treasury said it will continue to investigate and find the person responsible for the SAA's financial collapse.

Dudu Myeni, a close friend of Jacob Zuma’s has largely been blamed for the mess at SAA.


3. South Africa's Eskom raises wage offer to unions - NUMSA

South Africa’s state power utility Eskom has raised its wage increase offer for this year to 6.2 percent from 4.7 percent previously, the National Union of Metalworkers of South Africa (NUMSA) said on Thursday.

4. The rand makes a slight recovery

South Africa’s rand steadied on Thursday after sliding to a new seven-month low against the dollar.

On Friday the rand was at R13.70 to the dollar, R17.97 to the pound and R15.96 to the euro.

6. Africa's first Lego Certified Store to be launched in Sandton

South Africans will now be able to enjoy an amazing Lego experience with the launch of the first Lego Certified Store on July 28th in Sandton City.

7. Gold miner gets ok to fire up Obuasi

Anglo Gold Ashanti, the world’s third-largest gold mining company by production, yesterday cleared a major regulatory hurdle in its $500million (R6.77billion) investment in Ghana.

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- BUSINESS REPORT ONLINE