CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
Christo Wiese, Shoprite founder, chairperson and major shareholder of the continent's biggest retail chain, said he intends to maintain a “decidedly” active role at Shoprite, now that a deal that would have seen him substantially reduce his shareholding has been cancelled.
2. There’s no truth to importers’ threats about ‘expensive’ chicken
Don't rely on the chicken importers for the facts. In a massive public relations exercise to turn opinion against higher import tariffs, they have relied on assertion, misdirection, misinformation and bluster. Facts are few and far between
3. Mantashe lashes Minerals Council over ‘mischievous’ approach
Mineral Resources and Energy Minister Gwede Mantashe yesterday hit out at the Minerals Council South Africa, describing the lobby group as mischievous in its legal battle to have certain aspects of the third version of the mining charter overturned.
4. Government sets Reserve Bank Mandate – Mboweni
The Minister of Finance Tito Mboweni on Tuesday refuted commitments to expand the SA Reserve Bank’s mandate after a briefing of the party's NEC Lekgotla stated that this was in the pipeline.
5. Westcon-Comstor achieves Level 1 B-BBEE rating
Westcon-Comstor Sub-Saharan Africa, a value-added distributor of ICT solutions, has attained a Level 1 Broad-based black economic empowerment (B-BBEE) rating in South Africa, moving from level 3 to level 1 in just less than two years.
6. ANC to lock horns with Reserve Bank over job-creation mandate
The ANC is set for a collision course with the SA Reserve Bank (Sarb) after a post-national executive committee (NEC) lekgotla reiterated that the central bank’s mandate should be extended to include job creation and economic growth.
7. GDP figures: The market doesn’t buy Ramaphosa’s new dawn
Solidarity on Tuesday expressed utter shock at the lates gross domestic product (GDP) growth figures saying the market doesn’t buy President Cyril Ramaphosa’s new dawn.
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