Moody's downgrade fears; MTN slashes prices; Ramaphosa, business brainstorm Covid-19; Capitec; SAA; Kerzner

Loading player...
In today's news headlines:
* South Africa could lose its last investment-grade credit rating. Moody’s Investor Service is scheduled to release an assessment of the country on Friday. The loss of an investment-grade credit rating could lead to heavy fund outflows, battering the rand even further, warns Bloomberg.
* Tributes pour in for Sol Kerzner, one of the world’s most innovative hoteliers, founder of the Southern Sun hotel group, Sun International and Kerzner International, who died at the weekend.
* SAA has suspended all intercontinental flights until May 31 in response to a government travel ban aimed at stopping the spread of the coronavirus outbreak.
* MTN said it would reduce the cost of monthly data bundles of 1 gigabyte (GB) and below by between 25% and 50% from April 15, after a finding that South Africa’s mobile data prices were the highest on the continent.
* As global central banks and governments continue their running battle to allay market fears over the scale of their response, President Cyril Ramaphosa has met with business leaders to discuss ways to contain the economic damage from Covid-19 in South Africa.
* Looking at performances on the JSE, Capitec bounced back by more than an astonishing 40% on Friday after its share price was battered earlier in the week. Steinhoff shed 10%, with coronavirus-imposed lockdowns in Europe impacting negatively on operations overseas. Learn more about your ad choices. Visit megaphone.fm/adchoices
22 Mar 2020 1PM English South Africa Investing · Business News

Other recent episodes

Corné Mulder says SA could have a new government before 2029

South Africa just joined a short and unflattering list of countries facing individual US visa restrictions, and Freedom Front Plus leader Corné Mulder says he saw it coming from a manifesto launch stage days before it happened. He tells Alec Hogg why he thinks Cyril Ramaphosa's habit of avoiding decisions…
17 Sep 10AM 28 min

GG Alcock says SA's R1-trillion "informal" economy is anything but

South Africa's townships are not a side economy. According to GG Alcock, author of the Kasinomics book series, they're a trillion-rand-plus market that the country's biggest listed companies are already quietly fighting over, from Shoprite's cash-and-carry pivot to Capitec's entrepreneur accounts to Pepkor's handset financing. Alcock, who grew up in…
17 Sep 7AM 49 min

Solly Moeng: BOTH Cyril AND Mashatile are too ill to run the country

In their latest weekly chat, Chris Steyn and Political Commentator Solly Moeng talk about both President Cyril Ramaphosa and Deputy President Paul Mashatile having been declared unfit - because they are too ill - to perform official duties; the US the visa restrictions for certain - still unamed -government officials;…
17 Sep 6AM 16 min