Fidentia curators coin it, widows weep; EU braces for hard Brexit; Discovery, Blue Label, Resilient

Loading player...
It was another rough day on the JSE for medical scheme provider Discovery, which lost 8%, and Aspen, which shed more than 4%.

Blue Label Telecoms also took a knock, losing more than 3% of its value after announcing a delay in the release of its financial results. It expects to produce figures that will disappoint investors, when it eventually posts its results.

Real Estate Investment Trust Resilient, which owns about 30 shopping centres around South Africa, moved up nearly 5% following the release of its financial results and a dividend increase of about 3% (on Friday). Total revenue for the period was recorded at R3.8bn (2018: R3.9bn), and profit before net finance costs turned around to R5.9bn (2018: loss of R2.7bn)

More than a decade after the Fidentia group was placed in curatorship, investors have recovered only a quarter of the R1,3bn in claims, reports Netwerk24. The curators made millions wrapping up the affairs of the company that squandered mineworkers' savings for widows and orphans.

The European Commission said on Monday that the EU was ready for a no-deal Brexit and that Britain would suffer most under such a scenario, reports Reuters. Learn more about your ad choices. Visit megaphone.fm/adchoices
19 Aug 2019 3PM English South Africa Investing · Business News

Other recent episodes

Boardroom Talk: RIP RW Johnson - leaving a huge hole in your nation's heart

In today's Boardroom Talk, Alec Hogg confirms the death of RW Johnson, one of South African political writing's sharpest and most combustible voices, and reflects on a decade of working with him: the audiobook that started it, the necrotising fasciitis he refused to let slow him down, the Steenhuisen column…
22 Jul 5AM 19 min

Unlocking High-Yield Private Debt: The Jaltech Income Opportunities Fund

Join the leadership team at Jaltech for an exclusive overview of the new Jaltech Income Opportunities Fund - a spin-off from their highly successful Section 12J investment strategy. Designed to target structured debt funding for established, mid-sized South African businesses, this fund addresses an unserved niche left open by traditional…
24 Jul 5AM 29 min

BN Daybreak: Zille on Joburg's last chance; AI stock warnings; Cape gangs; Civic tech

In today's BizNews Daybreak, Helen Zille warns Johannesburg faces its final chance to reverse municipal collapse. Heindrich Wyngaard explains why military presence alone cannot dismantle the Cape Flats' deep-rooted gang economy. Lance Dickson introduces "Ryze," a platform channeling public rage into organized civic action. Finally, Sean Peche cautions investors against…
23 Jul 11PM 15 min