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Cape Town - A roundup of Friday's top economic and finance reads on Fin24.
Markus Jooste profited big time from Steinhoff land deal, filings show
Markus Jooste, who quit as head of Steinhoff International [JSE:SNH] in December amid an accounting scandal, oversaw a complex series of transactions where decisions made by the South African retailer benefited him personally, company filings show.
In a set of property deals reviewed by Bloomberg, companies linked to Jooste and Steinhoff associates profited by hundreds of millions of rand between 2002 and 2007.
6 ways the NHI bill will affect consumers' pockets
South Africans will have to regard the National Health Insurance (NHI) Fund as mandatory, in the same way they abide by the Constitution, says Health Minister Aaron Motsoaledi.
National Health Insurance is the government's plan for comprehensive health services for all South African citizens and long-term residents. According to the 2017 NHI White Paper, its goal is to create a "single, publicly owned and administered strategic purchaser" that will buy healthcare services for all South Africans public and private providers.
Unions welcome new healthcare laws – with a laundry list of concerns
South African unions and labour federations on Friday broadly welcomed the eventual release of the National Health Insurance Bill and the Medial Schemes Amendment Bill by Health Minister Aaron Motsoaledi.
But concerns about implementation persist, particularly around what the bills mean for workers' access to quality healthcare and the state of country's health sector.
Job losses can be avoided with National Minimum Wage exemption - Ramaphosa
Job losses that may result from the implementation of the national minimum wage can be avoided if businesses apply for an exemption, said President Cyril Ramaphosa.
In a written response to a question by DA leader Mmusi Maimane in Parliament, Ramaphosa clarified steps government is taking to mitigate an estimated 715 000 job losses resulting from the bill's implementation.
The bill was passed by the National Assembly in May, following months of engagement with various stakeholders.
BRICS tax officials put heads together to curb evasion, illicit financial flows
Information exchange, aimed at curbing illicit financial flows and tax evasion, dominated the BRICS Tax and Customs meeting which concluded in Johannesburg on Thursday.
According to SARS Acting Commissioner, Mark Kingon, the BRICS tax authorities had agreed to forge beneficial cooperation to improve tax bases in their respective countries and improve collection compliance in the era of digital economy.
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