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Flash Briefing: Gear change for Rand; Kazungula bridge opens trade gateway to Africa; Clicks buys Pick n Pay pharmacies

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* The South African rand continued to strengthen on Monday, breaking through R14.00 to the US Dollar. TreasuryONE currency strategist Andre Cilliers explains what’s behind the move.
* Southern African presidents attended the ceremony to open the $260 million Kazungula road and rail bridge between Botswana and Zambia that offers a faster and cheaper alternative to a route via Beitbridge on Zimbabwe’s border with South Africa.
* President Cyril Ramaphosa has warned against vaccine apartheid in his weekly letter to citizens.
* South African pharmacist Clicks said on Monday it planned to acquire 25 in-store pharmacies, their drug stocks and staff from retailer Pick N Pay.
* Stocks have ground higher in recent days after Federal Reserve officials reiterated their commitment to easy financing conditions to aid the economic recovery. Learn more about your ad choices. Visit megaphone.fm/adchoices
10 May 2021 11AM English South Africa Investing · Business News

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