CR on coronavirus: Don’t panic; Eskom targets Trillian; current-account deficit; Old Mutual, Rand

Loading player...
In today's business headlines:
- President Cyril Ramaphosa urges the country not to panic as the first case of the coronavirus was identified in a man from Kwazulu-Natal who returned from a trip in Italy. Minister Zweli Mkhize outlined the steps the government is taking to limit the outbreak;
- The Rand fell by almost 2.5% against the US dollar after the first confirmed case of the coronavirus in South Africa, trading at R15.53 cents and R20.24 against the British Pound as analysts indicate that the markets are nervous with many questioning the ability of the government to deal with the outbreak;
- Eskom is going to institute liquidation proceedings against the Gupta companies, Trillian Management Consulting and Trillian Capital Partners in the North Gauteng High Court in an attempt to recoup money owed to it;
- South Africa’s current-account deficit narrowed to a nine-year low in the fourth quarter as outflows decreased; and
- Old Mutual, locked in a prolonged spat with its fired chief executive officer Peter Moyo, said earnings from its operations probably fell as much as 5%, weighed down by a stuttering local economy. Learn more about your ad choices. Visit megaphone.fm/adchoices
5 Mar 2020 2PM English South Africa Investing · Business News

Other recent episodes

BNC#8; John Endres Q&A - Jobs, politics and the investment freeze no one wants to admit

South Africa’s future hinges on one simple truth: jobs come from growth, and growth comes from political choices. This sharp discussion unpacks how policy, ideology, and global alignment are choking investment and costing livelihoods. Inside the ANC, paralysis, fear, and patronage block reform - despite clear evidence of what works…
10 Apr 9AM 32 min

Roy Tilley: The municipal "Rates Randage Monster" strangling South Africa's property owners

Durban businessman Roy Tilley says a deeply flawed municipal rates formula is pushing property owners and small businesses toward a financial breaking point. In this interview, the Queensmead industrial property owner explains why he believes ever-rising rates are becoming impossible to absorb, hurting tenants, jobs and investment, and argues that…
10 Apr 9AM 20 min

BNC#8: Magnus Heystek Q&A - The brutal truth about South Africa’s financial future

A sharp, no-holds-barred conversation on South Africa’s financial reality - rising offshore limits, shrinking property values, and the struggle for economic revival. From Johannesburg’s decline to gold’s surge, and investor psychology to policy failures, this discussion cuts through the noise. It’s a candid look at risk, resilience, and the tough…
10 Apr 6AM 34 min