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Monday, July 6th, 2020

Thuli Madonsela lashes CR over Covid-19 lockdown rules, NDZ under fire in court; Saffers 20% poorer – FNB; Sasol

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by June 4, 2020 Financial News

BizNews — in today’s news headlines:* Listen to the people, President Cyril Ramaphosa. That was the message from former public protector Thuli Madonsela in a hard-hitting Open Letter to the president, published in the Financial Mail, in which she sharply criticised South Africa’s strict lockdown rules;* Also this week: As BizNews editor-in-chief Alec Hogg reports, in a scathing judgment, Mr Justice Norman Davis has said many of minister Nkosazana Dlamini-Zuma’s lockdown regulations were “irrational, distressing, unconstitutional and paternalistic.”* The average income of customers at South Africa’sFirst National Bankplummeted by about 20% during thenation’s lockdownas peopletook pay cutsor had less work to do;* Managing director of EE Business Intelligence, and energy expert,Chris Yellandhas warned that consumers can brace themselves for a hike in electricity tariffs. This follows news that Eskom will miss the government target to split into three separate units by 2022 because it is being held up by legal processes; and* Sasol – one of the most closely watched stocks in South Africa – continues to power up returns for its shareholders. It was among the top 5 performers on the Johannesburg stock exchange at the close of the trading session on Thursday, gaining about 3.5%. …

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Author: BizNews The Daily Insider

This article was originally posted on BizNews.

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