5 things you need to know in SA business today .

by TessaApril 1, 2019

 

Tito Mboweni has lashed out at Sanral, criticising the agency’s decision to suspend summonses to recover e-toll debt.

“They [the board] must reverse the decision. It has implications for the bond market, it has implications for the fiscus. It has implications for their own credit rating and the credit rating of the country,” Mboweni said.

 

  1. The repo rate remained unchanged yesterday, with the Reserve Bank worried about growth given loadshedding and weak business confidence. But it also expects that inflation will tick higher over the medium term due to the large Eskom tariff hikes and higher petrol prices.
  2. Trevor Manuel has threatened to sue the EFFif the organisation doesn’t retract a “racist” and “libellous” statement over his supposed connections to the new CEO of SARS, Edward Kieswetter. Manuel headed the selection panel. The EFF alleged that Manuel was related to Kieswetter and that they have close business ties.
  3. The Independent Regulatory Board for Auditors has struck a former KPMG partner off its rolls. Jacques Wessels audited a number of Gupta companies, and has been accused of dishonesty and negligence.
  4. Capitec announced its results yesterday: headline earnings grew almost 20% to R5.3 billion. Capitec now has more than eleven million active bank clients – which grew by 1.5 milllion over the past year.

 

Source : https://www.businessinsider.co.za/uk-is-like-an-emerging-market-thanks-to-brexit-says-mark-mobius-2019-3

 

 

 

 

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Tessa