Business Wrap

Buying Barclays… junk status and the rand… Capitec Bank in hot water… (and more)

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Most read, most talked about business articles of the past week:

1. Patrice Motsepe? Bob Diamond? PIC? Who is buying Barclays Africa?

“It’s a very, very short-sighted and bad decision to sell this stake,” says Vestact MD Paul Theron in this discussion of the sale Barclays Africa and rumours of who is likely to buy chunks of it.

2. The Sarb expects a downgrade to ‘junk’. What’ll (probably) happen to the rand…

“A ratings downgrade is almost a foregone conclusion,” says Kaon Capital CEO Brigid Taylor who discusses the likely impact on interest rates and the rand should it happen.

3. Consumer watchdog to take Capitec Bank to court over lending practices

Clark Gardner – the consumer watchdog who last year busted Lewis Group for breaching the National Credit Act – is taking Capitec Bank to court over a payday loan facility he says charges interest of 150% to 600%.

4. How is Zimbabwe doing? An Africa expert reports from Harare...

Dianna Games, Executive Director of the SA-Nigeria Chamber of Commerce, in Harare, shares her general impressions of the country and city.

5. Want to be rich in retirement? Why it's a no-brainer to use a retirement fund

Using a retirement fund (e.g. a retirement annuity) to save for retirement is a no-brainer.

6. How Tracey Chambers is helping unemployed moms become entrepreneurs

Meet the inspirational CEO of The Clothing Bank, a social enterprise that helps unemployed moms start their own businesses.

“We have a single mother with seven children. Before she joined she couldn’t feed them. Now her two oldest daughters are enrolled in Technicon!”

7. Elon Musk’s lossmaking Tesla to produce 500 000 cars in 2018

Tesla’s share price is plummeting; Elon Musk is breaking his promises,” says Mark Smyth, Motor News supplement Editor in The Business Day.

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Elon Musk’s lossmaking Tesla to produce 500 000 cars in 2018

Elon Musk’s lossmaking Tesla to produce 500 000 cars in 2018

The electric car manufacturer will reach this target two years earlier than expected.

Patrice Motsepe? Bob Diamond? PIC? Who is buying Barclays Africa?

Patrice Motsepe? Bob Diamond? PIC? Who is buying Barclays Africa?

Barclays is selling about 20% of its stake in Barclays Africa Group to money managers for $879 million.

The Sarb expects a downgrade to ‘junk’. What’ll (probably) happen to the rand…

The Sarb expects a downgrade to ‘junk’. What’ll (probably) happen to the rand…

South Africa faces a medium to high probability of a downgrade to non-investment status, according to the SA Reserve Bank.

Consumer watchdog to take Capitec Bank to court over lending practices

Consumer watchdog to take Capitec Bank to court over lending practices

Ray White interviews Clark Gardner, the consumer champion who last year exposed Lewis Group’s unlawful credit practices.

Want to be rich in retirement? Why it's a no-brainer to use a retirement fund

Want to be rich in retirement? Why it's a no-brainer to use a retirement fund

5 reasons retirement funds rule (compared to the alternatives), according to Corporate Consultant Erhard Theunissen.

How Tracey Chambers is helping unemployed moms become entrepreneurs

How Tracey Chambers is helping unemployed moms become entrepreneurs

The Clothing Bank gives women access to discounted merchandise and 500 hours of training in money management and business skills.

How is Zimbabwe doing?  An Africa expert reports from Harare...

How is Zimbabwe doing? An Africa expert reports from Harare...

Africa expert Dianna Games, from Harare, gives her general impressions of the city and country as a whole.

Meet Clark Gardner, the consumer champion that has Lewis shaking in their boots

Meet Clark Gardner, the consumer champion that has Lewis shaking in their boots

Clark Gardner, CEO of financial well-being firm Summit Financial Partners, is a slayer of garnishee orders and credit crooks.