9.12.2019 11:41 am
The share price has rebounded after the recent huge sell-off, but investor confidence needs rebuilding to reverse the last few years’ losses.
By Friday’s close, Nampak’s share price had recovered to R5.70 from its recent low of just above R5 – when announcement of worse-than-expected results had shareholders falling over each other to sell shares.
It has recently been criticised by, among others, ANC secretary-general Ace Magashule and deputy secretary-general Jessie Duarte.
The minister said it would be part of ‘an orderly and methodical restructuring process at SAA’, and government will no longer be able to meddle.
Government has come under fire for trying to keep Saldanha Steel, a subsidiary of ArcelorMittal South Africa (Amsa) open at all cost, to the extent of resorting to protectionist tactics that adversely affect downstream steel firms.
The presidency has expressed concern that the news was leaked in an unofficial manner, but has nevertheless confirmed it.
There has been a huge turnout at the company’s facilities in Krugersdorp despite the wet and chilly weather.
The City wants to turn part of the Racing Park into emergency housing units.
South Africa’s latest gross domestic product (GDP) figures mark the fourth quarter of decline during President Cyril Ramaphosa’s tenure.
Taxi World editor Joel Mafenya calls for an end to the carnage and urges government to be ‘proactive’ not ‘reactive’.
The embattled company appears to be retaining a never-say-die attitude about its troubles.
Stats SA released the latest GDP figures on Tuesday, offering South Africans more grim news about the state of the local economy, which contracted by 0.6% in quarter three of 2019.
The country is on the verge of a cannabis industry boom worth billions of rands, but government must first provide a legislative and regulatory framework, experts say.
The Competition Commission warns cellphone giants they could face prosecution for excessive if they do not adhere to the ruling, but they point to government’s delays.
Mobile data is about to become a lot more accessible in the country if the Competition Commission’s recommendations are not taken on legal review.