Business

In City Press Business: Moyo versus Manuel; Ngqura closure costs R1 billion; Limited power of rates

2019-07-21 07:14

Here are some of the headlines in your City Press Business section today:

Moyo versus Manuel

Old Mutual chairperson Trevor Manuel is alleged to have recused himself from an item that was up for discussion during a March 2018 board meeting, citing a possible conflict of interest – but he remained in the room while the board discussed the matter.

Ngqura closure costs R1 billion

The crippling strike that recently hit Transnet’s Ngqura Container Terminal in Port Elizabeth had an “unbearable” effect on the Eastern Cape economy, which lost about R1 billion in earnings, according to Eastern Cape Premier Oscar Mabuyane.

The limited power of rates

The ability to stimulate the economy through interest rate cuts is very limited if business is not confident about the economy, municipalities are dysfunctional and the consumer is under stress. This is according to SA Reserve Bank Deputy Governor Rashad Cassim during an interview.

Crisis of poverty

Zwelinzima Vavi, general secretary of the SA Federation of Trade Unions, writes that twenty five years after the end of apartheid, the working class face a catastrophe of poverty, unemployment, inequality, crime, corruption and racism.

Mango appointment whips up a storm

The parliamentary portfolio committee on public enterprises has written to the department of public enterprises requesting an explanation for the recent appointment of Nico Bezuidenhout as CEO of state-owned airline Mango.

For more on these and other stories, get your copy of City Press today.

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August 18 2019