Sunday Times

Confidence index picks up, but Cape’s ‘Day Zero’ races closer

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business confidence index rose 1.3 index points in December to 96.4 as business‘s mood improved. The South African Chamber of Commerce and Industry said anticipate­d policy certainty, sustainabl­e growth-oriented domestic economic policy and a “probable fresh approach“towards investor challenges should further lift business‘s mood.

class action brought by thousands of mineworker­s who contracted lung diseases working for gold miners has been postponed because the parties are close to a settlement. Attorneys requested the postponeme­nt as talks were at an “advanced stage“.

Naspers is in talks to lead an investment of as much as R2.5-billion in India‘s Swiggy to increase its stake in the online food-delivery company. In May Naspers invested an initial $80-million in Swiggy, the largest food-delivery business in India.

Town estimates that “Day Zero” will arrive one week earlier than predicted: on April 22. Unless residents reduce consumptio­n and additional water is found, that is the day on which the drought-stricken city will cut off water supplies. Dams supplying the city are at 29.7% of capacity, down from 31% a week earlier.

Liberty Holdings announced the departure of the group’s finance director, Casper Troskie. He will join Old Mutual as the financial director of soon-to-be listed Old Mutual Emerging Markets.

South Africa’s growth is

lagging substantia­lly behind other emerging economies as policy uncertaint­y continues to batter business confidence, according to a report from the World Bank. The bank expects South Africa’s economic growth to accelerate to 1.1% in 2018 from 0.8% in 2017. In comparison, emerging markets are expected to average growth of 4.5% in 2018.

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