Compiled by Dhivana Rajgopaul
CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. MTN prepares to exit from 'operationally complex' Middle East
Africa’s telecommunications giant MTN has flagged that it was selling its assets in the Middle East as part of a phased strategy to exit the region in the medium-term.
2. Boardrooms need more gender diversity and end to unfair pay gap
Corporate South Africa has more work to do to transform boardrooms and end the gender pay gap, despite the strides being made towards gender equality at the workplace.
3. Glencore scraps 2020 dividend as it pours cash into trading
Glencore ditched its annual dividend after net debt surged, because the commodities giant poured money into its trading business to cash in on volatile price swings.
4. Sanral 'shovel ready' to implement projects to boost weak economy
The SA National Roads Agency (Sanral) will implement R30billion worth of construction projects as part of President Cyril Ramaphosa’s call for “shovel-ready” infrastructure projects to boost the weak economy.
Mobile operator MTN yesterday said that it remained committed to delivering on its medium-term targets after a better than expected performance in the six months to June.
6. Wheels turn for RAF as it focuses on paying victims
Efforts by the Road Accident Fund (RAF) to focus on paying accident victims are proving fruitful, despite failure to have it declared an essential service during the lockdown.
7. Shoprite to close another store in Kenya, 115 jobs to go
South Africa’s Shoprite Holdings will lay off 115 staff and close another Kenyan store, less than a year after its opening as part of the supermarket’s expansion into the east African country, a letter seen by Reuters shows and the company confirmed.
BUSINESS REPORT ONLINE