Today’s business update — and where (and when) your car is most likely to be stolen or hijacked
1. The Development Bank of Southern Africa has committed R3.5bn to rescue SAA. The airline's business rescue practitioners encouraged South Africans to book flights on SAA now that funding has been secured. Read more.
2. Cell C has defaulted on an interest payment on a $184m loan (about R2.7bn at current exchange rates) which was due in December 2019. Read more.
4. The High Court in Pretoria has dismissed an application by former SAA chairperson Dudu Myeni for leave to appeal a ruling that Organisation Undoing Tax Abuse (Outa) has standing to bring a delinquency case against her. Read more.
5. Petrol prices should fall next week, by around 13c for 95 unleaded. Read more.
Graph of the day
Utterly useless fact of the day
The word stokvel derives from "stock fair." In the 19th century British settlers would buy cattle at stock fairs where participants rotated the management of the auctions. In the same way, many stokvels involve members pooling savings and take turns to receive a fixed amount on a regular basis. Read more.
Tweets of the day
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