MTSHALI TAKES OVER THE REINS AT MTN IN ESWATINI
MTN IN MBABANE, eSwatini, the local unit of telecoms group MTN, yesterday appointed Wandile Mtshali as its chief executive, after his predecessor was appointed prime minister of the kingdom. Mtshali, who holds a Bachelor’s degree from the University of Botswana in electronics and computer engineering, is to take the helm on Monday, the company said. Former chief executive Ambrose Dlamini was appointed prime minister in 2018 by eSwatini’s King Mswati. Mswati is Africa’s last absolute monarch and exercises tight political control over the land-locked nation, formerly known as Swaziland. The king chooses the prime minister as well as the government. Mtshali worked for MTN eSwatini for 17 years before being appointed technical officer in South Sudan, and Guinea Bissau. He joined MTN’s competitor Swazi Mobile in 2017, as chief technical officer. Mtshali replaces Sibusiso Nhleko, who was acting chief executive following Dlamini’s departure.
Reuters
THE RESTRICTION of movements to and from China in the wake of the outbreak of Covid-19, caused by the coronavirus, has negatively impacted Zimbabwe’s tourism industry and small to medium enterprises, local media reported yesterday. The Herald newspaper said that due to the outbreak, entrepreneurs could not travel to China to import clothes, cellphones and vehicle spare parts for resale for fear of contracting the deadly virus. Chinese tourists have also significantly cut down foreign travel to avoid further spreading the virus, which has killed more than 2 700 people, mostly in mainland China. More than 79 000 cases have been reported. Earlier this month, news agency AFP reported that numerous Chinese shop owners in Namibia who had travelled to their country for the year-end break had opted to stay there instead of returning to Windhoek’s Chinatown, a vast complex of nearly 200 retail, wholesale, food and electronics outlets. In one block of 90 shops, 20 stores had reportedly not re-opened. On Monday, Standard Bank donated R750 000 to China through its embassy in South Africa towards the fight against Covid-19. “This disease, this epidemic has the ability to affect the entire world, so it is in our own interests to ensure the eradication of it. Secondly, and more importantly, as South Africa we believe in showing solidarity… with the Chinese people,” the bank’s chief executive Sim Tshabalala said. “This is not just a Chinese issue, it affects the entire world.” Reuters
SOUTH African food producer Libstar Holdings yesterday flagged annual earnings up as much as 12 percent, boosted by improved profits in each of the group’s product categories. Libstar, whose products include baking aids, snacks, confectionery and perishables, said normalised headline earnings per share (Heps) including the impact of first-time adoption of IFRS 16 and IFRS 9 for the year ended December 31, 2019, is expected to be between 79.9 and 83.7 cents per share, or 7 to 12 percent higher, compared with 74.6c in the year ago period. Heps is the main profit gauge in South Africa and strips out certain oneoff items. Reuters