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

1. GEPF has 30 days in which to decide on its Naspers shareholding

The Government Employees Pension Fund (GEPF) has about 30 days to make a decision on its interest in Naspers after the Public Investment Corporation (PIC) was reported to have advised it to reduce its shareholding.

2. Steinhoff hit by bad news of latest forecast

Steinhoff International fell nearly 10percent during early trade on the JSE yesterday, despite the retailer saying it narrowed its losses to 1.19billion (R19.53bn) for the year to end September 2018 from a 3.99bn loss in 2017.

3. Bolt, formerly known as Taxify, launches Bolt for Business in SA

Bolt has launched Bolt for Business, allowing companies of all sizes to manage and pay for corporate trips via a single, easy-to-use portal.

4. LOOK: New luxury hotel brand launches in Cape Town

Labotessa, a 17th-century congregational church now turned lifestyle hotel, will open in Cape Town in August 2019. 

5. African banks to fund construction of world’s biggest marine diamond mining vessel

Five African commercial banks have partnered in a $375 million financing deal to build a new diamond mining vessel for a subsidiary of Anglo American’s diamond unit De Beers.

6. LOOK: R600m retail boost on the cards for Port Elizabeth's Boardwalk Precinct

Made for locals, the Boardwalk Mall development will more than double the retail space in the Boardwalk Precinct when it opens in 2021.

7. Africa’s Wi-Fi growth in full force

World Wi-Fi Day is celebrated every year on June 20th, signifying a day where governments, industries and consumers recognise the important role of Wi-Fi in socio-economic development. 

BUSINESS REPORT ONLINE