Embattled auditing firm KPMG South Africa board chairman Wiseman Nkuhlu said KPMG had let the country down and gaining the trust lost was not an easy task. File Photo: IOL

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

1. KPMG 'a different company now', says chairman Nkuhlu

Embattled auditing firm KPMG South Africa board chairman Wiseman Nkuhlu says the company has changed after suffering reputational damage over its work for the fugitive Gupta family, the South African Revenue Service (SARS), and now defunct VBS Mutual Bank.

2. Nedbank offer at odds with prohibition

Nebank’s odd-lot offer to shareholders is at odds with the principles applied by the former Consumer Affairs Committee, now replaced by the National Consumer Commission (NCC), when it prohibited inertia or negative-option marketing in 2004 in terms of the Unfair Business Practices Act. 

3. Government resource plan blocking jobs for thousands in Northern Cape

Close to 2 000 construction jobs, over a period of five to 10 years, could be guaranteed for communities in the Northern Cape should the wholly black-owned firm Emvelo proceed to the next five planned stages of its 1000 megawatt solar power station project.

4. CPS must talk with Sassa about contract pricing – Concourt

Net1 UEPS Technologies, the parent company of Cash Payment Services (CPS), will have to negotiate with the SA Social Security Agency over the pricing of the last six months of its contract to distribute social grants after the Constitutional Court said it could not at this stage interfere.

5. Retail sector showing signs of revival

A study by the Bureau of Economic Research (BER) has shown that the retail sector showed signs of a revival in the last three months of the year after the sector ran into trouble in the third quarter of the year.

6.Erstwhile Necsa bigwigs to challenge dismissal by Radebe

The axed top brass of the South African Nuclear Energy Corporation  (Necsa) have launched a high court challenge to their removal by Energy Minister Jeff Radebe last week and alleged that the minister has tried to push an illegal agenda.

7. Net1 to negotiate the remainder of contract with Sassa

Net1 UEPS Technologies, the parent company of Cash Payment Services (CPS) will have to negotiate with South Africa Social Security Agency over the pricing of the last six months of its contract to distribute social grants after the Constitutional Court said it could not at this stage interfere.

BUSINESS REPORT ONLINE