Todays business update — and SAs best-run municipalities – Business Insider South Africa

Todays business update — and SAs best-run municipalities – Business Insider South Africa

1. The rand is starting the week with a bang: it was last trading at around R16.94, after weakening to above R17 on Friday. Asian markets are rallying this morning, with the Chinese market up more than 4%.

2. Iain Williamson has been appointed as Old Mutual’s permanent CEO after a year of legal battles with his fired predecessor, Peter Moyo.

3. Santam says it “agonised” over its decision to reject lockdown insurance claims, as the tourism and hospitality industry takes it to court over its failure to pay out business interruption claims.

4. Sasol has given up its licence to explore for gas off the Mozambique coast, Reuters reports.

5. Allan Gray’s head of investments Andrew Lapping has announced that he will leave the company. Duncan Artus will replace him from September 1.

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