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

1. #PICInquiry: Mpati must deal with our grievances this week, says PSA

As the commission of Inquiry into allegations of impropriety at the Public Investment Corporation (PIC) resumes this week, the Public Servants Association (PSA) says it expects retired Judge Lex Mpati and his team to deal with its list of grievances.

2. Tiso sale will shake up SA’s media world

Lebashe Investment Group’s (LIG) acquisition of the media, broadcasting and content business of Tiso Blackstar Holdings (Tiso), including its publications such as Sunday Times and Business Day, would significantly transform the media landscape in South Africa, Lebashe chairperson Tshepo Mahloele said on Friday.

3. MultiChoice starts talks on retrenchments

Pay-TV service provider MultiChoice South Africa has officially informed employees within its customer care (call centre) and walk-in centres that it is starting a consultation process as part of the strategic realignment of its customer service delivery model.

4. Dis-Chem profit margins down, so is executive pay

Dis-Chem Pharmacies has paid its chief executive Ivan Saltzman a total remuneration package of R12.84 million for the year to end-February, declining by 21.87percent compared with R16.43 million in 2018, with the group stating profit targets were not met during the year. 

5. WATCH: The rand dips just below the R14.10/$ mark

The rand managed to dip just below the R14.10/$ mark as the United States and China committed to reignite trade negotiations once again at the G20 on Saturday according to Bianca Botes, Treasury Partner at Peregrine Treasury Solutions. 

6. Entrepreneur focused on growing youth-owned small businesses

Pearl Maphumulo, the founding managing director of the Business Development Agency (BDA),  30, is currently in N’Djamena, Chad, upon the invitation of the African Union’s secretariat of the African Peer Review Mechanism (APRM), which is hosting the First International Youth Symposium on July 1 - 2 in collaboration with the government of the Republic of Chad.

7. SA rates lowest among 5 countries

Auditing firm PricewaterhouseCoopers (PwC) sees South African hotel revenue growth at only 3.3 percent annual rate between 2019 and 2023.

BUSINESS REPORT ONLINE