ANC controls Joburg again; Private sector activity shrinks; RBM shuttered; Mining charter in court
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In today's business headlines:
The ANC is back in power in Johannesburg, the country’s economic hub after Geoff Makhubo was elected as the city’s mayor.
Activity in the private sector in South Africa shrank for the seventh consecutive month due to reduced output, less new orders and a contraction in employment. That is according to IHS Markit’s Purchasing Managers’ index, which fell from 49.4 in October to 48.6.
Mining companies will be challenging the key provisions of the Mining Charter in court in April. They are testing three aspects of the government’s revised charter, which set out rules on ownership, investment and exploration.
Cell C’s creditors aren’t giving up on a takeover offer from rival Telkom which South Africa’s third-largest mobile-network operator rejected last week. Meanwhile MTN said it would vigorously oppose recommendations from the Competition Commission after the regulator instructed MTN and Vodacom to lower data prices.
Saxo bank have issued what Bloomberg regards as outrageous predictions for 2020. One of the predictions is that the value of the Rand would plunge to R20 for a dollar.
The ANC is back in power in Johannesburg, the country’s economic hub after Geoff Makhubo was elected as the city’s mayor.
Activity in the private sector in South Africa shrank for the seventh consecutive month due to reduced output, less new orders and a contraction in employment. That is according to IHS Markit’s Purchasing Managers’ index, which fell from 49.4 in October to 48.6.
Mining companies will be challenging the key provisions of the Mining Charter in court in April. They are testing three aspects of the government’s revised charter, which set out rules on ownership, investment and exploration.
Cell C’s creditors aren’t giving up on a takeover offer from rival Telkom which South Africa’s third-largest mobile-network operator rejected last week. Meanwhile MTN said it would vigorously oppose recommendations from the Competition Commission after the regulator instructed MTN and Vodacom to lower data prices.
Saxo bank have issued what Bloomberg regards as outrageous predictions for 2020. One of the predictions is that the value of the Rand would plunge to R20 for a dollar.
