CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
MTN’s Nigeria listing is being investigated by local authorities, the latest in a series of disputes in the African wireless carrier's largest market.
International rating agency S&P Global on Friday warned that South Africa's fiscal position remained weak due to considerable deficits, ballooning debt and contingent liabilities largely tied to cash-burning power producer Eskom.
The share price of Old Mutual Limited (OML) declined by 6 percent after the financial services group announced the suspension of its chief executive, Peter Moyo, due to a conflict of interest between the two parties.
Power utility Eskom is set to have its 13th chief executive since 1994 after the resignation of Phakamani Hadebe on Friday, which laid bare the toxic nature of what is arguably the toughest job in South Africa.
South Africa’s largest cellular providers remain among the most highly regarded globally, although customer satisfaction is on the decline.
The General Industrial Workers Union of South Africa (Giwusa), whose members were dismissed by platinum giant Anglo American Platinum (Amplats) for embarking on an unprotected strike, said that it had approached the Labour Court to have the dismissals reversed.
The rand traded on a more bullish tone during the early European session (and carried that momentum into the afternoon session), in tandem with global risk assets as partial overturn of the previous day’s risk-off sentiment according to NKC Research.
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