Good morning. This is all the latest business news that you need to know today.
Former president Jacob Zuma's son Duduzane was ready to appear in court on a charge of culpable homicide as well as bribery allegations related to state capture, and has not been evading the law, his lawyer Rudi Krause told Independent Media on Sunday night.
It seems there is no end in sight for the problems experienced by Steinhoff Africa Retail (STAR) subsidiary Tekkie Town, which has resorted to obtaining an urgent court order from the Western Cape High Court against four senior members of its previous management team.
3. McKinsey is paying back R902 million it received from Eskom
McKinsey’s new global head will on Monday apologise to South Africans for work the firm did with friends of scandal-plagued former president Jacob Zuma, an ill-fated deal that tarnished the reputation of the world’s biggest consultancy.
but it will be keeping the interest that money has earned since 2016.
The South African Bureau of Standards (SABS) has been placed under administration.
This is after Trade and Industry Minister Rob Davies last month removed the entire SABS board because he had lost faith in its ability to effectively manage the bureau.
5. Land owned by black South Africans are safe
Government’s plan to expropriate land without compensation will not involve land owned and controlled by black South Africans according to president Cyril Ramaphosa and Deputy President David Mabuza.
6. Rand stands firm
South Africa’s rand firmed on Friday and On Monday the rand was trading at R13.45 to the dollar, R17.88 to the pound and R15.81 to the euro.
Entrepreneur Bongumusa Kunene says they started multinational startup Kevali Chemicals to be an inspiration to the younger generation.
- BUSINESS REPORT ONLINE