Good morning. This is all the latest business news that you need to know today.
South Africans are paying too much for private healthcare, the country’s antitrust watchdog said on Thursday, adding patients have sometimes prescribed treatments they don’t need by an industry with limited competition.
A list of the Top 1000 banks in the world has been released by The Banker.
South African bank Standard Bank has topped the list of the best banks on the African continent.
3. Eskom and workers back at the negotiation table
Eskom and its workers are set to decide on the wage hikes for 2018 and the next few years.
The government recently increased its offer to 6.2%, and 6% for subsequent years, while unions were demanding 9%. Unions are expected to give feedback on the government’s offer.
President Cyril Ramaphosa will on Friday host a BRICS stakeholder round-table meeting with South African business people.
5. Mining Minister Gwede Mantashe wants to reopen mines to help the economy
Mining minister Gwede Mantashe hopes to get mines currently on care and maintenance reopened to boost the economy.
6. The rand stands firm
On Friday the rand was trading at R13.53 to the dollar, R17.90 to the pound and R15.83 to the euro.
Petra Diamonds has sold its stake in the Kimberley Ekapa Mining joint venture for about 300 million South African rand ($22 million), the miner said on Thursday.
- BUSINESS REPORT ONLINE