Flash Briefing: SA manufacturing growth spurt; Cape Town property plunge; Naspers' big fintech deal; Deloitte, KPMG face national ban
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In today's Biznews Flash Briefing:
South Africa's manufacturing sector has perked up, with more cars, electronics, metal products and furniture produced than expected.
Cape Town property prices have been falling. The latest data from FNB shows that house prices have been plunging in the most expensive suburbs and at best have moved side-ways in the more affordable neighbourhoods.
In global developments, South Africa’s Naspers has struck its biggest fintech deal yet. Naspers Ltd.’s PayU has agreed to buy Turkish digital payments company Iyzico for $165m.
Deloitte and KPMG have been in the spotlight in South Africa in connection with their complicity and/or negligence in corporate accounting scandals and state capture. While it’s business-as-usual for these Big Four accounting firms in South Africa, in India the government wants to ban these firms for similar wrong-doing.
Former tourism minister Derek Hanekom is the eighth ANC member to resign as an MP. Hanekom, an ally of president Cyril Ramaphosa, was not appointed to the new cabinet announced almost two weeks ago.
On the Johannesburg Stock Exchange, Kumba Iron Ore and Impala Platinum led stocks upwards, each gaining around 3%. Losing value were listed property company Capital Counties and Harmony, both shedding around 3%
The rand was trading at around R14.68 to the greenback, at about R18.68 to the British pound and R16.63 to the Euro on Tuesday evening.
South Africa's manufacturing sector has perked up, with more cars, electronics, metal products and furniture produced than expected.
Cape Town property prices have been falling. The latest data from FNB shows that house prices have been plunging in the most expensive suburbs and at best have moved side-ways in the more affordable neighbourhoods.
In global developments, South Africa’s Naspers has struck its biggest fintech deal yet. Naspers Ltd.’s PayU has agreed to buy Turkish digital payments company Iyzico for $165m.
Deloitte and KPMG have been in the spotlight in South Africa in connection with their complicity and/or negligence in corporate accounting scandals and state capture. While it’s business-as-usual for these Big Four accounting firms in South Africa, in India the government wants to ban these firms for similar wrong-doing.
Former tourism minister Derek Hanekom is the eighth ANC member to resign as an MP. Hanekom, an ally of president Cyril Ramaphosa, was not appointed to the new cabinet announced almost two weeks ago.
On the Johannesburg Stock Exchange, Kumba Iron Ore and Impala Platinum led stocks upwards, each gaining around 3%. Losing value were listed property company Capital Counties and Harmony, both shedding around 3%
The rand was trading at around R14.68 to the greenback, at about R18.68 to the British pound and R16.63 to the Euro on Tuesday evening.
