Eskom miners' death knell; Land policy 2020 wrap; OM beat Moyo; New Woolies head cheered; Vodacom, Cell C
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In today’s business headlines:
• Eskom will be the “death knell” for South Africa’s mining industry unless the government enables mines to produce their own electricity;
• President Cyril Ramaphosa said land distribution must be finalised in 2020 and has asked business leaders to present solutions to redistribute land to the majority blacks and take up the issue of land reform more seriously;
• An appeal by insurer Old Mutual against a judgment delivered in July last year to temporarily reinstate fired CEO Peter Moyo was upheld by the High Court in Johannesburg yesterday with costs;
• Woolworths investors cheered the news that CEO Ian Moir will step down and be replaced by in a month’s time, sending the share price up 8.3%; and
• Vodacom is in talks with Cell C about taking on the smaller rival’s contract-paying mobile-phone customers, a move that would strengthen its position as South Africa’s telecom market leader, according to Bloomberg sources. Learn more about your ad choices. Visit megaphone.fm/adchoices
• Eskom will be the “death knell” for South Africa’s mining industry unless the government enables mines to produce their own electricity;
• President Cyril Ramaphosa said land distribution must be finalised in 2020 and has asked business leaders to present solutions to redistribute land to the majority blacks and take up the issue of land reform more seriously;
• An appeal by insurer Old Mutual against a judgment delivered in July last year to temporarily reinstate fired CEO Peter Moyo was upheld by the High Court in Johannesburg yesterday with costs;
• Woolworths investors cheered the news that CEO Ian Moir will step down and be replaced by in a month’s time, sending the share price up 8.3%; and
• Vodacom is in talks with Cell C about taking on the smaller rival’s contract-paying mobile-phone customers, a move that would strengthen its position as South Africa’s telecom market leader, according to Bloomberg sources. Learn more about your ad choices. Visit megaphone.fm/adchoices
