Ownership takes centre stage under updated BBBEE code
The updated codes essentially mean that the days of achieving suitable BBBEE compliance (level 4 or above) without doing some sort of ownership deal “are dead.”
The updated codes essentially mean that the days of achieving suitable BBBEE compliance (level 4 or above) without doing some sort of ownership deal “are dead.”
The South African rand weakened against the dollar on Monday, tracking a weaker euro after the Swiss National Bank’s move last week to scrap the cap on the value of its currency fuelled talk of imminent quantitative easing in Europe
South Africa’s rand slipped further early on Tuesday after hitting record lows against the dollar in the previous session and looked set to continue its slide before the release of mining and manufacturing data.
The rand slipped against the dollar in early Friday trade as stronger than expected mining output failed to shield the South African currency from fears of a further slump in global commodity prices.
South Africa’s rand weakened slightly on Monday against a stronger dollar, although the currency did manage to hold below the crucial 11.000 mark ahead of a busy data week that should set its short-term course.
South African stocks fell for a third straight session on Friday, with iron ore producer Assore down sharply as the commodity’s price was on track for its first weekly drop in a month due to Chinese steel mills keeping stockpiles low.
The rand held near recent highs against the dollar early on Friday, looking for direction after hitting the 10.92 area currently serving as a resistance barrier for rand bulls.
South Africa’s rand edged firmer against the dollar on Wednesday after pushing to its strongest level in 25 days in the previous session
The rand pulled back from the previous day’s one week lows against the dollar on Friday but was not of the woods as investors braced for a likely deterioration in economic growth and budget deficit forecasts next week.
South Africa’s rand edged firmer against the dollar on Tuesday and looked set to remain in a tight range.