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

1. Deputy Master appointed African Global liquidators

Under-fire Deputy Master of the High Court Christene Rossouw appointed the liquidators of the short-lived voluntary winding down of the affairs of African Global Operations – a group of companies that were formerly known as Bosasa.

2. Professional Provident Society assets up by 10%

The Professional Provident Society (PPS), a financial services company focused on solutions for graduate professionals, grew assets under management by 10 percent to R31.4 billion in spite of last year’s challenging market conditions. 

3. Households under pressure as buying power shrinks by R449.8bn

South African households suffered the biggest financial losses last year, with nearly half-a-trillion rand lost in net worth.

4. SARB felt heat after Gupta accounts closed

The governor of the South African Reserve Bank (SARB) Lesetja Kganyago has detailed the extent of the pressure that was brought on the central bank after the country's banks closed the Guptas’ bank accounts three years ago.

5. Lebashe, Coral Lagoon made PIC R1.7bn profit

The Public Investment Corporation (PIC) made a profit of about R1.7 billion in transactions it entered into with investment companies Coral Lagoon and Lebashe Investment Group.

6. Hollard's Sithega buys controlling stake in Prescient Holdings

South African insurer Hollard Group on Tuesday announced the acquisition of a controlling equity stake in financial services group, Prescient Holdings, by investment management company, Sithega.

7. WATCH LIVE: Former AYO executive testifies at the #PICInquiry

The Public Investment Corporation (PIC) Commission of Inquiry into impropriety, led by retired Judge Lex Mpati continues today in Pretoria.

BUSINESS REPORT ONLINE