Today’s business update – and why SA faces a diesel shortage
From Business Insider South Africa:
1. Abel Sithole has been appointed as the CEO of the Public Investment Corporation. He currently heads the Government Employees Pension Fund
2. Woolworths may give its Australian businesses up to R1.1 billion in funding support to survive the impact of Covid-19.
3. Former SAA chair Dudu Myeni has been declared a delinquent director in terms of the Companies Act.
4. PSG will offload 28% of its stake in Capitec Bank to its shareholders.
5. SA banks may be better placed than their European counterparts to weather the Covid-19 storm, but they are not immune to collapsing, the South African Reserve Bank warned yesterday.
Chart of the day
Tweet of the day
If you don’t check Twitter for two days and come back, everyone’s already joking about a controversy you’ve never heard of. Suddenly every tweet is like “Buzz Lightyear is NOT misogynistic, here’s proof” and it’s a picture of a wheelbarrow and Danny DeVito with 40,000 likes— Dan Gurewitch (@DanGurewitch) May 27, 2020
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