Good morning. This is all the latest business news that you need to know today.
The African National Congress (ANC) on Wednesday, said the rate at which costs were increasing in South Africa is unbearable and said strong action was needed after the July fuel increase.
The proposed nationalisation of South Africa's central bank would cut out private shareholders whose involvement helps ensure greater openness and provides transparency to the operations and auditing of the institution, think tank Free Market Foundation (FMF)
3. The Competition Commission set to release its findings into the private healthcare system today.
The findings will look at the differences between public and private healthcare and assess the costs and operations, as well as how medical aid schemes fit in.
South Africa's trade and industry department said it would in partnership with the department of small business development, the Eastern Cape provincial government and Buffalo City municipality host a two-day broad-based black economic empowerment summit.
5. Rand has gone down again
South Africa’s rand weakened on Wednesday, giving up earlier gains. On Thursday the rand was trading at R13.73 to the dollar, R18.16 to the pound and R16.02 to the euro.
The National Treasury has extended the guarantee of deposits at VBS Mutual Bank to R100,000.
Details on how deposit holders will be able to access their money will be available on Monday the9th of July.
7. The Post Office to take over social grant payments
The Post Office says it can not guarantee there won't be more glitches as it takes over the payment of social grants – such as the issues this week that left hundreds of thousands of people without access to their payments.
- BUSINESS REPORT ONLINE