Bathabile Dlamini Goes To Court

A hive of activity is expected when Dlamini gives answers to questions in relation to the ongoing social grants issue. On Monday, Dlamini and the South African Social Security Agency missed the 4pm deadline to answer the ConCourt’s questions in relation to the controversial contract with Cash Paymaster Services (CPS). The appearance will be televised live on ENCA from 10am and you can stream it here :

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CPS Threatens Govt With Ultimatum

The South African Social Security Agency (Sassa) has until Wednesday afternoon to sign a new contract with Cash Paymaster Services (CPS) or risk defaulting on social grants on April 1, according to CPS CEO Serge Belamant. Belamant dropped the bombshell in an affidavit to the Constitutional Court, answering the South African Post Office’s application to be admitted as a friend of the court. Basically holding the country to ransom.

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Cell C Posts First Ever Full Year Profit 

Cell C says it has swung into the black, reporting a surprise full-year profit of R540m after 16 years, the first since its start-up in 2001. The company increased earnings before interest and tax by R1.26bn in 2016 compared with 2015 and revenue for the 2016 financial year grew to R14.6bn from R13.2bn. Cell C has 15.3-million subscribers, up 20%.

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Kusile Reaches Full Capacity

Eskom on Tuesday said that Kusile power station’s Unit 1 had reached its full 800 MW load-generating capacity last week after the initial synchronisation on December 26.
Kusile Unit 1, which is in the final stages of the combustion optimisation phase, is now one step closer to commercial operation.

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Somali Pirates Hijack First Ship Since 2012

Pirates have hijacked an oil tanker with eight Sri Lankan crew onboard, a Somali official said on Tuesday, the first time they have successfully taken a commercial ship since 2012. The ship reported it was being followed by two skiffs yesterday afternoon. Then it disappeared.

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Apple Found Guilty Of Price Fixing In Russia

Apple has been found guilty of fixing the price of iPhones in Russia for several years.Russia’s antitrust regulator, the Federal Antimonopoly Service, said today that Apple’s local subsidiary coordinated the price at which businesses were allowed to sell its phones. If sellers tried to discount an iPhone, Apple would email them and ask for it to be changed; failing to do so could have led to their contract being terminated. Apple is said to have done this for the last several years of phones, from the iPhone 5 through the iPhone 6S.

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Canadian Marijuana Company To List On Stock Exchange

Canopy Growth, a marijuana-growing company based in Ontario, is being added to the S&P/TSX composite index. The company will be added to the index’s healthcare sector and start trading on March 20. Shares were down 0.72%, at 11.05 Canadian dollars, on Tuesday afternoon. Canopy is the largest legal grower of medical marijuana in the world, and has been hailed as the marijuana industry’s first unicorn — it blew past a $2 billion valuation in November, though its total valuation has slipped since then.

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Author: The Turk Report

Simplifying complex money matters

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