Business News Leaders

EOH announces major management shakeup

Over the past year, technology services group, EOH's share price has declined about 74%. The company is trying to address concerns and has announced more management changes, again reconfiguring its board and putting a timeline to the business split it announced in March along with appointing CEOs to the future…

27 Jun 2018 12PM 7 min

LISTEN: South African Listed Tracker Funds Awards (SALTA) ceremony

The South African Listed Tracker Awards (SALTA) is a new initiative by three service providers to the South African Exchange Traded Funds (ETF) industry, to assess and reward ETF providers for their products in the local market. The awards recognise the leaders in the burgeoning ETF industry for: * The…

25 Jun 2018 7AM 28 min

OPEC heads for Vienna talks on oil output hike

The Organization of the Petroleum Exporting Countries (OPEC) is set to hold its biannual meeting in Vienna on Friday. And it's widely expected that an agreement to pump more oil is on the cards - seeing Oil prices come under relentless pressure. Bjarne Schieldrop, Chief Commodities Analyst at SEB joined…

21 Jun 2018 12PM 3 min

SA in 2030: Three possible scenarios

With South Africa's changing political, economic and social landscape, where will the country be in 2030? Multi-stakeholder and research-driven Indlulamithi has launched three possible scenarios namely, an enclave bourgeois nation, a nation in step with itself and a floundering false dawn. Andile Sangqu, Executive Head of Anglo American and Lumkile…

21 Jun 2018 12PM 7 min

NHI bill gazetted, makes way for NHI fund

Government has been mulling National Health Insurance for years and today, the National Health Insurance Bill was finally gazetted - paving the way for the Health Department to set up an NHI fund. Now, the public will have three months to comment on the Bill along with the changes being…

21 Jun 2018 12PM 9 min

Power struggle at Eskom as unions reject wage offer

Power utility Eskom has moved from its 0% wage increase stance and has tabled a new offer of a 4.7% increase. This against union demands of an increase of up to 15% along with housing allowance increases and payment of performance bonuses. Unions however have rejected the offer. Khulu Phasiwe,…

20 Jun 2018 12PM 7 min

May inflation surprises to the downside

Consumer Price Inflation slowed to 4.4% in May, just below economist's expectations of a rise to 4.6%. This as food prices rose at its slowest pace since 2013 but weighing on the index is fuel inflation, it rose by 3.6% month-on-month in May with the annual rate rising to 9.4%…

20 Jun 2018 12PM 7 min

Manufacturing Indaba 2018 kicks off

Manufacturing may have weighed heavily on first quarter GDP - which contracted by 2.2%, but it continues being punted as a potential growth engine for the country. And with the Manufacturing Indaba 2018 having kicked off today, what's being thrashed out are ideas on what it will take to revitalise…

19 Jun 2018 12PM 9 min

Mining Charter 2018 has been published

The long-awaited draft of Mining Charter 2018 has been published and is open for public comment over the next 30-days. In the meantime, the Minerals Council said it has noted material improvements on the 2017 Mining Charter but does not support some elements of the draft as it will not…

18 Jun 2018 12PM 7 min

Grindrod Shipping makes its Nasdaq debut

Grindrod Shipping made its Nasdaq debut today. Grindrod had signaled its intention to unbundle the unit earlier this year, and had said that the move would allow shareholders to clearly understand the difference between its various divisions and assist in valuing them separately. Grindrod Shipping's CEO, Martyn Wade joined Business…

18 Jun 2018 12PM 5 min

PPC profits were boosted by its African Operations

Cement maker, PPC released its full-year results today, revenue is up 7%, headline earnings per share has more than doubled to 15 cents. PPC's Southern African division suffered declines in sales as well as net profit while its rest of Africa division grew sales by 30% with the company expecting…

18 Jun 2018 12PM 7 min

Weekly gnashing of teeth is Sasfin Securities' David Shapiro

We are reaping the whirlwind but at least we can still make fire and our evolution in the alcohol making department has come a long way. So, light those candles, throw back the moonshine, play football world cup finger puppet games if you need to and let the weekend begin!…

15 Jun 2018 12PM 24 min

SA’s banking sector set to welcome new entrant

There's a new mutual bank in town, joining the influx of new entrants to challenge the big 4. The bank - called the 'Young Women in Business Network Co-operative Financial Institution' - will target informal traders and black business owners. The Managing Director, Nthabeleng Likotsi joined us on line to…

15 Jun 2018 12PM 7 min

What was the outcome of the Absa investment management conference.

Absa held its annual investment management conference today under the theme, ''Who moved my growth?'. Fitting after the first quarter showed a GDP contraction of 2.2%. Still, even with key industries like mining, manufacturing and agriculture not delivering much needed growth - National Treasury, the World Bank and the IMF…

14 Jun 2018 12PM 7 min

SA mining production drop 4.3% year-on-year in April

South Africa's mining production continued its slide in April. Output decreased by 4.3% year-on-year with the largest negative contributors being the platinum group metals with a slide of 6.5% while other metallic minerals dropped 36.3%, diamond and gold production fell 24% and gold nearly 6%. Mining production weighed negatively on…

14 Jun 2018 12PM 6 min

NERSA to allow Eskom further increase in 2018

The National Energy Regulator has given Eskom the green light to claw back more than 32 billion rand by hiking tariffs. This is to cover incurred by the utility over the past 3 years but it is only half of what Eskom had initially asked for. Nersa’s Nomfundo Maseti joined…

14 Jun 2018 12PM 7 min

Strong rand takes shine off Peregrine earnings

A strong rand has taken some of the gloss off financial services group Peregrine's FY numbers. That's with almost every business in the group benefitting from a weaker rand, with 42% of the group's operating earnings now emanating directly from offshore entities. So, while Group headline earnings rose 6% to…

13 Jun 2018 12PM 4 min

Business confidence retreats Q2

The second quarter RMB/BER Business Confidence Index has fallen by 6-points to 39 after an 11-point 'Ramaphoria' surge in the first quarter. This as the reality of subdued economic activity kicks in, business activity is worsening in some sectors, policy uncertainty around the country's land question persists, oil prices are…

13 Jun 2018 12PM 9 min

European union: an 'empire' crumbling?

Mobile giant, Vodacom is embarking on a R17.5 billion empowerment deal which will replace the current BEE deal which unwinds in October. This deal will give existing BEE partner, YeboYethu shareholders a more direct holding in Vodacom. The company says that the new transaction includes the newly formed employee share…

12 Jun 2018 12PM 8 min

Num & Numsa ready for 1-day strike at Eskom

Unions, NUM and Numsa will embark on strike action at Eskom to try force the power utility to increase wages by 15% across the board along with a housing allowance increase to R2000 but cash strapped Eskom is sticking to it's stance of zero increases and no bonuses for this…

12 Jun 2018 12PM 6 min