CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. Solidarity to take further action against former Eskom boss Molefe
Labour union Solidarity said on Monday it would take comprehensive steps to bring former Eskom chief executive Brian Molefe to account over his role in the struggling state-owned power utility's woes.
2. Standard Bank Group's expansion across Africa pays off well
The Standard Bank Group’s diversification strategy across the continent has paid off in the first half of the year, as South Africa continues to face low economic growth with ongoing uncertainty weighing on business confidence, spending and investment.
3. WATCH: Rand tests the R15.30 mark
On Friday, while SA celebrated women’s day, the global market was anything but kind to the local currency. The rand started the day at R14.98/$, but rapidly made its way to R15.28 by the end of the US session.
4. SA horse racing industry bets on a single entity in major overhaul
South Africa's horse racing industry is set for a major overhaul following a meeting of key industry players to solve the impasse in the battling industry.
5. WEF ON AFRICA 2019: The mother continent to host the world in the Mother City
The World Economic Forum (WEF) on Africa will hold its annual regional summit in Cape Town on September 4-6, 2019, under the theme "Shaping Inclusive Growth and Shared Futures in the Fourth Industrial Revolution".
6. Higher taxes on the cards as government scrambles to implement NHI
South Africa’s embattled consumers are set to see a rise in taxes as the government scrambles to implement the much-touted National Health Insurance (NHI) scheme.
7. MTN loses nearly 2 million subscribers in six months
MTN lost almost 2 million subscribers in South Africa in the six months to June and service revenue growth slowed by 3.3 percent in a stubbornly weak economy.