Tag: covid-19 lockdown
Logistics and transport group OneLogix has reported a 46 per cent drop in headline earnings. The company has not declared a dividend, after reporting a profit decline for the first time in 11 years. And this is due to the uncertain economic environment created by COVID-19. OneLogix CEO, Ian Lourens joins CNBC Africa for more.
South Africa to go into alert level 1 as of Sunday 20th September 2020.
In its interim results, Brimstone Investment reported a loss of R129.6 million. This is with the impact of COVID-19 on the company’s subsidiaries and investee companies.
All eyes in South Africa are on the ANC, as the governing party scrambles to reign in corruption. President Cyril Ramaphosa committed to rooting out corruption from the beginning of his term. The theft of COVID-19 relief funds has put pressure for him to fulfil his promise and to hold perpetrators accountable. Joining CNBC Africa to provide insights into Ramaphosa’s attempts to clean up the ANC is Daniel Silke, Director at Political Futures Consultancy.
The increase of digital transactions in South Africa, has given rise to fears of fraud. To mitigate those risks, Standard Bank has bought a 35 per cent stake in Trade Safe. The fintech company provides a platform to keep a buyer’s funds safe, until they receive the goods or services. Joining CNBC Africa to discuss this deal is Kuben Chetty, Head of Client Solutions at Standard Bank and Jethro O’Brien, CEO of TradeSafe.
Businesses are looking at more cost-efficient services that also increase their productivity levels. With this in mind, African Rainbow Capital has made an additional investment in Linebooker.
The Financial Sector Conduct Authority has slapped Tongaat Hulett with a R20 million fine. This is after an investigation found significant accounting irregularities. Joining CNBC Africa to give insight into the investigation is Brandon Topham, Divisional Executive for Enforcement at the Financial Sector Conduct Authority.
Famous Brands is selling its 51 per cent controlling stake in Tashas, to the founding family. This is in line with the group’s three year strategy to focus less on its signature brands portfolio. The founding family of Tasha’s currently holds the remaining 49 per cent. Tashas Founder, Natasha Sideris joins CNBC Africa for more.