JOHANNESBURG -Take a look at the biggest stories from this past week.
1. SIM TSHABALALA assumes sole leadership Africa’s biggest lender by value, Standard Bank, following the stepping down of Ben Kruger. The 154-year- old bank, which operates in 20 countries, says it has decided to drop the joint-group chief executive structure which was implemented in March 2013 when Tshabalala and Kruger succeeded Jacko Maree. “The board is satisfied that the structure, which was necessary in 2013, has met and in many respects exceeded expectations,” Standard Bank says. - Read more here.
3. PUBLIC Investment Corporation (PIC) chief executive Dan Matjila battles attempts to oust him from his position. Matjila says the allegations that he channelled an R21 million to an alleged girlfriend does not have merit. He says he is determine to continue his tenure at the helm of one of the largest investment managers in Africa. Read more here.
5. THE DEPARTMENT of Mineral Resources (DMR) orders Lonmin to rectify non-compliance with the Mineral and Petroleum Development Act (MPRDA) after an audit reveals that the miner have fail to meet its Social and Labour Plan (SLP) commitments between 2014 and 2017. In a letter to the Bapo Ba Mogale Tribal Authority in August, the department says the audit shows that the world’s third biggest platinum producer has not complied with commitments made in 2014 - two years after 44 mineworkers died violently in what ultimately became known as the Marikana massacre. - Also read: SA KPMG CEO resigns following Gupta scandals
- BUSINESS REPORT