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

1. Cartrack expects double-digit growth

Cartrack Holdings’ management was confident that revenue, subscription revenue and earnings per share would achieve double-digit growth off a positive trading performance and the execution of the organisational plan for the 2020 financial year. 

2. Zimbabwe threatens to stop cross-border traffic with SA if xenophobic attacks continue

The Zimbabwe Cross Borders Transport Association (ZCBTA) has warned that it will stop all South African cross-border transport if reputed attacks by South African nationals on foreign truck drivers proceed.

3. Bidvest trading profit rises 3.5% to R6.7bn

Trading, distribution and services group Bidvest said on Monday its trading profit for the year ended June 30 rose 3.5 percent to R6.7 billion despite flat revenue.

4. DHL Express launches app to track and coordinate the delivery of shipments

DHL Express has announced the launch of a mobile app that will allow its customers in Sub Saharan Africa to track and coordinate the delivery of their shipments. 

5. Steinhoff plans to ditch Deloitte as auditors in favour of Mazars

Steinhoff said on Friday that it planned to task Mazars, the international accountancy, advisory and tax services firm, with the responsibility of balancing its books following the 2017 accounting scandal that brought the company to its knees.

6. NHI expenditure will be R450bn, projects Fitch

Fitch Solutions, a unit of the Fitch Group, said on Friday that it projects the government’s healthcare expenditure will reach nearly R450 billion by 2028 following its decision to implement the National Health Insurance (NHI) system.

7. WATCH: Rand rises on improved risk appetite

The South African currency advanced on Friday thanks to improved global risk appetite according to NKC Research.