Cape Town to take over from Eskom, 10-day Makro strike starts, Coronation backs Transaction Capital, Belgium criticises South Africa’s stance on Ruiis
: The City of Cape Town says discussions are underway with Eskom to take over the electricity supply of areas of the city that the embattled power utility still supplies. CoCT Mayor Geordin Hill-Lewis said that he could not discuss specific details as he signed a non-disclosure agreement as it relates to negotiations with unions and other parties. Hill-Lewis added that he hoped Eskom’s incoming management is as committed to the talks as the outgoing management.
[: Transaction Capital’s second-largest shareholder fund manager Coronation says the former’s share price can recover as two of its businesses look great in the long term. Last week, Transaction Capital’s shares lost nearly 70% of their value after it said that SA Taxi had structural problems, which meant they could stick with the company for an extended time. It also said that its core earnings could drop by nearly 50%.
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