File Photo: IOL

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

1. Standard Bank and Founders Factory Africa launch 140 tech-enabled companies

Corporates can play a more significant role in working with small businesses to stimulate economic growth and job creation across the continent. 

2. Moody’s backs SA’s credit profile but warns of Eskom risk

Moody’s yesterday took South Africans into its confidence on its decision not to provide guidance on the country's sovereign debt on Friday as scheduled and said it backed the country's credit profile to remain in line with those of investment-rated sovereigns. 

3. Gmail announces new features to celebrate 15th birthday

G Suite’s journey began 15 years ago with the introduction of Gmail in 2004. 

4. Magula confessed to receiving R7.6m from VBS for personal gain

Former executive head of risk at the Public Investment Corporation (PIC) Paul Magula confessed to Terry Motau SC’s forensic investigators that he received about R7.6 million from VBS Mutual Bank for personal gain.

5. Investment by PIC into AYO remains viable

The investment by the Public Investment Corporation (PIC) into AYO Technology Solutions Limited (AYO) was a viable investment and remains a viable investment, the PIC Commission of Inquiry was told Tuesday.

6. Ithala announces winners of the Business Achievers of the Year Awards

Two KwaZulu-Natal women beat 30 nominees to take top honours in an expanded 2019 Ithala Business Achievers Awards, marking a milestone in the more than 15-year history of the competition.

7. #PICInquiry: Survé says BEE is a farce

The Public Investment Corporation’s investment strategy was racist and favoured white-owned and -controlled companies at the expense of firms started and managed by black entrepreneurs, the Mpati Commission heard yesterday.