5 things you need to know in SA business today and the 6 most beautiful bank notes in the world
1. The rand remains under pressure. It is currently trading at around R12.09 to a dollar - its weakest level in two weeks - as fears of a global trade war weigh on global risk appetite.
2. Bowler Metcalf will sell 41% of Softbev to a private equity consortium. Softbev has the exclusive licence to bottle Pepsi and Mountain Dew in South Africa, and also owns Jive and other softdrink brands. The deal values the company at up to R868 million.
3. The food group Libstar became the third company in the past two weeks to announce a JSE listing. Libstar owns a number of SA brands including Lancewood dairy products and Denny mushrooms. The company is controlled by a Dubai-based private equity firm.
4. Rand Water, which supplies water to Gauteng, reported a profit of R1.8 billion over the past six months - an increase of 21% over the same period the year before. This was due in part to a 10% increase in the price it charges for drinking water.
5. Denel has a new board. Led by the former chair of Airports Company South Africa, Monhla Hlahla, other new directors include Cheryl Carolus and Zoli Kunene.
The 6 most beautiful bank notes in the world:
These were the finalists for 'Bank Note of the Year' - a global competition organised by the International Bank Note Society:
And the winner of the coveted title was...
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