THE WEEK IN FIVE

Weekend Argus (Sunday Edition) - - OPINION -

THE COUN­TRY’S busi­ness con­fi­dence in­dex im­proved to 99.7 points last month. The in­dex was 96.4 points in 2015, weeks be­fore Pres­i­dent Ja­cob Zuma fired re­spected bean counter Nh­lanhla Nene as fi­nance min­is­ter. In Oc­to­ber 2015 the in­dex was mea­sured at 102.3 points.

SPE­CIAL­IST bank­ing and as­set man­age­ment group In­vestec an­nounces former chair­per­son Fani Titi and In­vestec as­set man­age­ment ex­ec­u­tive di­rec­tor Hen­drik du Toit as joint chief ex­ec­u­tives, tak­ing over from long-stand­ing chief ex­ec­u­tive and found­ing mem­ber Stephen Kos­eff. Busi­ness Lead­er­ship

SA, how­ever, says it is con­cerned about the ten­dency to ap­point joint chief ex­ec­u­tives when “it is the black ex­ec­u­tive’s turn to oc­cupy the high­est of­fice”.

THE PAS­SEN­GER Rail Agency of South Africa de­nies re­ports that it has in­vested R1 bil­lion in VBS Bank, the lit­tle-known banker that granted Pres­i­dent Ja­cob Zuma a loan to re­pay about R7.8 mil­lion for non-se­cu­rity up­grades to his Nkandla homestead in KwaZulu-Natal. The em­bat­tled state-owned en­tity dis­misses the al­le­ga­tion as un­founded.

STAN­DARD Bank, which forms part of the Big Four banks in South Africa, launches its first ded­i­cated branch in Africa aimed at serv­ing the Chi­nese busi­ness com­mu­nity in the coun­try. The branch is sit­u­ated in Crown Mines, Johannesburg, and will be run by staff flu­ent in both Chi­nese and Eng­lish.

ESKOM’S new board led by re­spected busi­ness­man Jabu Mabuza says the power util­ity has de­cided to im­ple­ment life­style au­dits on the ex­ec­u­tive team, se­nior man­agers and mid­dle man­agers. Mabuza stressed that their man­date was to root out fi­nan­cial mis­man­age­ment, malfea­sance and mal­ad­min­is­tra­tion in or­der to re­store trans­par­ent and ef­fec­tive gov­er­nance.

Com­piled by Luy­olo Mken­tane

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