Property sales perk up; PIC cleans up act; 570% Inflation shocks Zim; EOH blacklists 50 companies; Sasol faces JSE suspension
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South Africa’s residential property market has taken strain along with the country’s economy. But, the latest FNB Property Barometer suggests that the housing market could soon take a turn for the better.
The Public Investment Corporation, Africa’s biggest fund manager, is cleaning up its act following a series of controversial deals involving politically connected individuals. The PIC has featured in the enquiry into state capture. As a first step, the PIC is separating the roles of chief executive officer and chief investment officer after criticism that too much power was concentrated in the role of CEO.
Hyperinflation and currency devaluation have hit Zimbabweans hard. Bloomberg reports that inflation is estimated to be anywhere from 230% to 570%. And, while that percentage range is hard to digest, in reality what it means is that people can no longer afford to get transport to work.
EOH has blacklisted 50 companies in connection with corruption and has announced it will sell another R1bn in non-core businesses as it restructures. As Bloomberg reports, EOH will structure operations into three units and sell assets that don’t fit with the revised set up, the Johannesburg-based company’s chief executive officer, Stephen van Coller, said by phone.
Sasol, South Africa’s global energy and chemical company, could be suspended from trading on the Johannesburg Stock Exchange. The company said that it has not released its 2019 provisional financial results and annual financial statements in accordance with the JSE listings requirements. Learn more about your ad choices. Visit megaphone.fm/adchoices
The Public Investment Corporation, Africa’s biggest fund manager, is cleaning up its act following a series of controversial deals involving politically connected individuals. The PIC has featured in the enquiry into state capture. As a first step, the PIC is separating the roles of chief executive officer and chief investment officer after criticism that too much power was concentrated in the role of CEO.
Hyperinflation and currency devaluation have hit Zimbabweans hard. Bloomberg reports that inflation is estimated to be anywhere from 230% to 570%. And, while that percentage range is hard to digest, in reality what it means is that people can no longer afford to get transport to work.
EOH has blacklisted 50 companies in connection with corruption and has announced it will sell another R1bn in non-core businesses as it restructures. As Bloomberg reports, EOH will structure operations into three units and sell assets that don’t fit with the revised set up, the Johannesburg-based company’s chief executive officer, Stephen van Coller, said by phone.
Sasol, South Africa’s global energy and chemical company, could be suspended from trading on the Johannesburg Stock Exchange. The company said that it has not released its 2019 provisional financial results and annual financial statements in accordance with the JSE listings requirements. Learn more about your ad choices. Visit megaphone.fm/adchoices
