Hits & Misses

It’s easier to get online, but retail turnaround is still buffering

MTN and partners, including China Mobile Communications Group, have developed an entrylevel smartphone costing just $20 (about R290) in a bid to boost internet penetration across its 22 markets. Largely due to the high cost of entrylevel data bundles and smartphones, only about a third of MTN’s subscribers in the Middle East and Africa use the internet regularly, said group CEO Rob Shuter.

PRESIDENT Cyril Ramaphosa’s investment drive is expected to give GDP a meaningful boost and make a dent in unemployment figures, PwC says. According to a PwC report, the R290bn influx in investment will add R338bn to GDP over the next five years, create 165,000 direct and indirect jobs a year and generate about R59bn in additional government revenue.

MOTORISTS could benefit from a “significant” petrol price decrease ahead of the festive season‚ said the Automobile Association. RETAIL sales grew at the slowest pace in 18 months in September, signalling a slow rebound for the economy from the recession it plunged into in the second quarter. Sales rose 0.7% from a year earlier compared with growth of 2.5% in August, Stats SA said, falling 0.6% in the month.

INVESTMENT house Brait reported a fall in net asset value (NAV) for the first half of its financial year, weighed down by a tough trading environment in both SA and the UK. Brait, which owns gym chain Virgin Active and British supermarket Iceland Foods, said net NAV was à336m, or R55.23 a share, from à416m, or R66.62 a share, in the same period a year ago.

STOCKS of coal remain low at Eskom’s 15 baseload stations, presenting a risk of power cuts at any time just as it makes efforts to regain investment. The utility was looking to procure the fuel immediately, spokesman Khulu Phasiwe said.