CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. Former President Jacob Zuma wants land to be nationalised
When speaking to students at the Walter Sisulu University in the Eastern Cape on Wednesday, Former President Jacob Zuma said the reason that black people are poverty stricken is that the land was taken from them.
2. SA gets a new debt relief bill
Parliament has approved a new bill aimed to help over-indebted South Africans who earn less than R7 500 a month. The bill was also set- up to encourage and enforce responsible lending and borrowing as illegal lending will be criminalised.
Mayoral hopeful Ian Neilson has been fingered to be partly to blame for the loss of R140 million of public money due to an alleged botched auction of prime land on the Foreshore.
The Special Investigating Unit (SIU) will investigate whether a kickback of more than R35 million was paid for a state contract with German software firm SAP, a spokeswoman for the unit told Reuters.
A legal battle may be looming over plans by South Africa’s ruling party to change the constitution to make it easier to expropriate land without paying for it, with widely divergent views over the process that needs to be followed.
The focus of this year event is to unlock Africa’s talent and to introduce it to the market, investors, collaboration partners etc.
Chicken came out as the clear favourite to be VAT-exempted for the support of South Africa’s poor, when stakeholders presented their responses to the Woolard Panel of Expert’s report in Parliament today.
– BUSINESS REPORT ONLINE