Sanlam said it would issue an aggregate of 5 percent of ordinary shares to a new broad-based group of empowerment shareholders and Ubuntu-Botho Investments (UB) which is Patrice Motsepe's company. Photo by Simphiwe Mbokazi

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

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Embattled state-owned entities Denel and Transnet yesterday moved to clean house after years of mismanagement and corruption. 

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South Africa trade balance data for September has resumed selling pressure on the rand on Wednesday. 

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Billionaire Patrice Motsepe is set to score big in Sanlam’s multi-billion expansion of its broad-based black economic empowerment (BBBEE) shareholding from 18 percent to 35 percent.

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For the first time in its 17-year history, guests at the Absa Champagne Festival will be able to bid on investment art.

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Impala Platinum (Implats) shares strengthened 6.98 percent to R26.37 a share in early trade on the JSE yesterday, after the miner revealed that it was involved in early talks to sell its 1 Shaft in Rustenburg.

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SoftBank Group has hired a Time Warner executive and former lawyer in the Clinton administration to spearhead its global communications strategy as the company transforms into one of the world’s largest technology investors.

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The rand fell against the US dollar during yesterday’s European trading session according to NKC Research. 

BUSINESS REPORT ONLINE