CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
Economists and opposition political parties have called on Finance Minister Tito Mboweni to focus on cost containment and cost-cutting, or run the risk of rating agency Moodyâs downgrading South Africa to junk status.
Finance Minister is faced with the mammoth task of presenting the Medium-term Budget Policy Statement on Wednesday and it will not be easy at all with a VAT hike, rising fuel prices and real cuts in key social spending areas were announced in the February budget.
Southern Africa strengthened its relations with its largest trade partner, the European Union at the Fifth South Africa-Italy summit.
Two new hotels are to be developed in Waterfall City, while City Lodge is considering expanding its existing 150-bedroom hotel in the precinct by 50 rooms.
Moody’s Investor Services on Tuesday maintained a negative outlook on Cameroon’s sovereign credit rating following the announced election results.
The Public Investment Corporation (PIC) and Pelo Agricultural Ventures have acquired a majority shareholding in Karan Beef for a maximum consideration of up to R5.2billion.
Anglo American Platinum (Amplats) on Tuesday appointed Norman Mbazima as non-executive director with immediate effect.
BUSINESS REPORT ONLINE