CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. PIC Inquiry: Dan Matjila hits out at R4.3bn recoup plan
Former Public Investment Corporation (PIC) chief executive Dan Matjila yesterday hit out at the asset manager's attempts to recoup the R4.3 billion it invested in the listing of AYO Technology Solutions in 2017.
2. WATCH: Rand trades steady overnight
The rand extended losses on Monday, reaching its weakest level in 11 months, as domestic political uncertainty compounded global risk-off sentiment entrenched in US-Sino trade uncertainty according to NKC Research.
3. Omnia’s downward spiral continues after news of R2bn rights offer
Omnia Holdings continued its downward spiral on the JSE yesterday, falling more than 8 percent in early trade after the group announced a R2 billion fully underwritten rights offer in an effort to reduce its debt.
4. Discovery the punchbag in health sell-off as shareholders jittery about NHI Bill
Discovery took the brunt of the health stocks sell-off yesterday, falling more than 12 percent in early trade before recovering to close 8.44percent lower at R105.72 after shareholders flagged industry uncertainty about the National Health Insurance (NHI) Bill.
5. PIC investment processes need to be free of external political influence
The former chief executive of the Public Investment Corporation (PIC) Dr Dan Matjila on Monday ended his 12-day testimony at the PIC Commission of Inquiry, by stating that that the processes of investment must be robust and free of external political influence.
6. Momentum launches #NoApologyForMySuccess campaign for Women's Month
Momentum has launched the #NoApologyForMySuccess campaign for Women's Month, a movement that aims to inspire women to talk confidently about their achievements.
7. SA Post Office now accepting bank card payments for car licence renewals
The South African Post Office said on Tuesday it would now accept debit and credit card payments, in addition to cash, for motor vehicle licence renewals at its branches offering the service.