1. Political parties had to submit their national candidate lists yesterday. So far, the EFF has been the only party that revealed its national list – which features many young leaders in the Fees Must Fall movement. The ANC list includes Zuma-era stalwarts like Mosebenzi Zwane, Malusi Gigaba, Bathabile Dlamini and Nomvula Mokonyane, it has been confirmed. Former president Jacob Zuma declined a nomination .
2. Meanwhile, local business confidence has slumped to its lowest level in two years – and is almost at levels last seen during the global financial crisis and in the period after Zuma fired former finance minister Pravin Gordhan, and the country saw a ratings downgrade.
3. SA’s largest property company, Growthpoint, yesterday warned that "property fundamentals remain weak and are worsening". The company, which owns dozens of office buildings and malls (including a 50% stake in the V&A Waterfront), reported a half-year profit of R4.3bn, compared to R6.6bn in the previous year.
4. The UK parliament will vote today on whether to seek a delay to Britain's March 29 departure from the European Union. The UK government yesterday announced that in case of a no-deal Brexit, tariffs will be cut to zero on 87% of imports to the UK for a period of 12 months. This will benefit South African exports of grapes and citrus products. But the UK will also impose duties of 10% on cars, which would mean SA would have to stop exporting vehicles to the UK, according to trade and industry minister Rob Davies. Outstanding issues of SA's post-Brexit trade agreement with the UK are expected to be resolved tomorrow.
5. It looks like MTN Nigeria will list on the local stock exchange “probably more towards April and May”, Ferdi Moolman, chief executive of MTN Nigeria, told Reuters.
A graph that shows how SA's construction sector fell of a cliff This week, Group Five became the latest construction company to file for bankruptcy protection. Others include Basil Read Holdings, a unit of Esor Ltd. and the Liviero Group.
It is sad to think that SA's construction firms were some of the mightiest companies in the country slightly more than a decade ago, says Schalk Louw, portfolio manager and strategist at PSG Wealth Old Oak told Business Insider SA.
In March 2008, Aveng, Aveng, Murray & Roberts and the cement producer PPC were big constituents among the top forty companies of the JSE, the FTSE/JSE Top40.
Today, all three companies together are smaller than the smallest company in the Top 40 index on 31 Maart 2008, which was Netcare.
Louw compiled a graph charting the stunning fall from grace of these companies on the JSE:
Source: Schalk Louw, PSG For more, go to Business Insider South Africa . Receive a single WhatsApp every morning with all our latest news: click here . Also from Business Insider South Africa:
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