South Africa’s benchmark stock index plunged the most since the market crash of October 1997 as reaction to US measures aimed at curbing the spread of the coronavirus accelerated the sell-off.
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Rob Shuter’s announcement that he will not seek to extend his contract as MTN Group CEO a year before it ends will allow the board enough time to pick a suitable candidate.
Bitcoin slumped through $6 000 on Thursday, leading a rout of cryptocurrencies amid a wider global risk asset sell-off over the intensifying coronavirus crisis.
Many members of the Libra Association – a Facebook-led effort to create a global cryptocurrency – are now also backing a rival effort.
Leading MTN Group has come at an “enormous sacrifice”, outgoing CEO Rob Shuter said on Wednesday at a media conference following the presentation of the telecommunications operator’s 2019 financial results.
MTN Group CEO Rob Shuter will step down from his role at the end of his fixed four-year contract in March 2021, he announced in a conference call on Wednesday morning.
Eskom can’t say when exactly the current bout of rolling blackouts will end. The state-owned power monopoly said on Wednesday that load shedding will continue until at least the weekend.
South African business sentiment plunged to the lowest level in more than two decades in the first quarter and could weaken even further as the coronavirus hits the domestic and global economy.
All eyes are on MTN South Africa and Telkom, which have failed to reach an agreement with the Competition Commission to lower data prices within the specified deadline.
South African regulators are stepping up efforts to break the oligopoly of the country’s top auditing firms after accounting scandals involving two of the Big Four failed to do the job for them.