President Cyril Ramaphosa. Picture: Bongani Mbatha/African News Agency(ANA)

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

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President Cyril Ramaphosa will next week go on a charm offensive at the World Economic Forum (WEF) as he scrambles to raise $100 billion (R1.38 trillion) in new investments in an environment of heightened global trade tension.  

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Adherence to the companies’ Act, JSE regulations and King rules on corporate governance at Sygnia Asset Management have left minority shareholders hot under the collar, with some of them expressing their resentment at the way the company seems to value shareholder input.

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President Cyril Ramaphosa announced yesterday that power utility Eskom was “being handled” as he prepares to lead a delegation of government officials, business and labour leaders to the annual World Economic Forum (WEF) in Davos, Switzerland, to promote South Africa as a compelling investment destination.

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In a leaked letter to staff, confirming the resignation of Tony Powis, chief executive Dawie De Villiers said the company wanted to strengthen its competitiveness. He had earlier denied that executive members were purged for nefarious reasons.

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The SA Reserve Bank (Sarb) on Wednesday published its views on regulating cryptocurrency through a consultation paper in the country. 

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The South African currency benefited from a somewhat softer greenback, while a strong showing in November’s retail sales provided further support to the rand.

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Zimbabweans have been a frustrated lot after the government shut down the internet for more than 30 hours. 

BUSINESS REPORT ONLINE