Africa-Press – South-Africa. CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
1. MTN continues its spin-off of non-core assets
MTN yesterday announced that it had sold its 20 percent stake in Belgacom International Carrier Services (Bics) for R1.8 billion to Belgian digital services provider Proximus as part of a process to dispose of non-core.
2. Big businesses impacted by Covid-19 ‘should have their own recovery plan’
Big companies that have been hit hard by Covid-19 lockdown, such as the bus industry, should use reserve investments to revive their businesses instead of looking up to the financially stressed government to rescue them.
3. SA deficit could narrow due to more favourable revenue base
BNP PARIBAS yesterday forecast that South Africa’s main budget deficit could narrow by 2 percentage points due to a more favourable base for revenues.
4. Net1 appoints a CEO in a new position for its Southern Africa operations
Net1 has appointed Lincoln Mali as CEO of Net1 Southern Africa, a new position for the company, a statement said yesterday.
5. Canegrowers urge action on master plan for SA’s struggling sugar industry
The South African Canegrowers Association yesterday urged President Cyril Ramaphosa to fast-track action to implement the elusive master plan for the struggling sugar industry.
6. Rand trades firmer against the greenback
The rand was bolstered by US stimulus optimism, which fuelled risk appetite and lifted commodity currencies according to NKC Research.
7. Sanlam UK backs landmark R3 billion transaction
Sanlam UK, the JSE-listed financial services group’s indirectly held subsidiary, indicated yesterday that it would back the £144.62 million (almost R3 billion) deal between James Hay Holdings and investment platform business Nucleus Financial Group.
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