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Cape Town - A roundup of Tuesday's top economic and finance reads on Fin24.
Pepkor's back, as Steinhoff Africa Retail announces name change in wake of scandal
Steinhoff Africa Retail [JSE:SRR] the JSE-listed company that contains Steinhoff's African retail assets, is set to change its name back to Pepkor Holdings.
The group, previously known as Pepkor, does business in 12 sub-Saharan African countries, including South Africa, Namibia, Botswana, Angola and Nigeria, and owns retail brands such as Pep, Ackermans, Tekkie Town and Timbercity.Bank looking for beneficiaries of R160m unclaimed policies
FNB Life has identified over R160m worth of unclaimed policies on its books, it said in a statement on Tuesday.
The bank has started an initiative to proactively identify customers who have not submitted claims in the past. It wants to track down nominated beneficiaries, family members or the next of kin.
MTN clinches deal to take Cell C roaming contract
Cell C, which has roamed on Johannesburg-based Vodacom’s network since 2001, will switch to MTN from next month, Cell C chief executive officer Jose dos Santos said in an email.
UDM ultimatum to Nene: Suspend PIC CEO Dan Matjila or else
The United Democratic Movement (UDM) has given Finance Minister Nhlanhla Nene until Thursday to suspend Public Investment Corporation (PIC) CEO Dr Dan Matjila pending an investigation, or face legal action.
"Come Thursday, if he doesn’t suspend him, we will meet in court… he must go and defend Matjila in court," UDM leader Bantu Holomisa told Fin24 by phone.
Africa's hidden oil hub near Cape Town booms after making millions for traders
For oil traders, there’s no place quite like Saldanha Bay. When prices slumped in 2014, trading houses generated outsize profits by storing millions of barrels of crude in the deep-water harbour north of Cape Town.
Now storage facilities at the port - where South Africa built vast concrete bunkers in the 1970s that helped insulate the apartheid regime from United Nations oil sanctions - are expanding.
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