On the 8th of August the minister of health Zweli Mkhize proposed the National Health Insurance bill in the National Assembly. The bill has been of much consternation this week with health insurer Discovery seeing a knock to its share price. Joining CNBC Africa to discuss the ins and outs of the controversial bill is the Chairperson of the Portfolio Committee on Health, Dr Sibongiseni Dhlomo, Dr Johann Serfontein a Consultant at South African Private Practitioners’ Forum and Professor Alex van den Heever from Wits School of Governance.
Joining CNBC Africa to discuss the mix of global and local market news is Leigh Riley, Wealth Manager at AlphaWealth.
A downgrade to junk is a looming possibility for South Africa, and non-residents have sold a net R14.4 billion of the debt this month. Today bonds firmed, with the yield on the benchmark of 10-year government paper due in 2026 down 4 basis points to 8.395 per cent. Rashaad Tayob, Fund Manager at Abax Investments joins CNBC Africa for more.
Botswana supermarket chain Choppies plans to exit its South African operations. The retailer has been battling several mishaps since last year when its shares were suspended on the JSE and Botswana Stock Exchange over the delayed submission of its results. In May its CEO was suspended over allegations of accounting irregularities now an extraordinary general meeting will be held next month, where his reinstatement will be on the agenda. CNBC Africa is joined by the co-Founder of Choppies, Ramachandran Ottapathu.
Former South African Reserve Bank Deputy Governor, Daniel Mminele is expected to join Absa as its CEO on the 15th January 2020, according to a CNBC Africa source.