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Five things making headlines in South Africa today 

Zuma’s end day looms, Spar releases a trading update, gold production falls by 12%, Multichoice secures ANN7 jobs, and the Mining Indaba closes.

Here’s what caught our attention on Thursday

  1. Zuma’s day zero is approaching

After days of anticipation and speculation over President Jacob Zuma’s fate, Deputy President Cyril Ramaphosa said on Wednesday that he had held talks with the president, over a transition of power. Ramaphosa said he would report back to the country in the coming days on what had been discussed and finalised. Reuters is reporting that this is the strongest indication yet that the president will step down.

 

  1. Spar trading update shows improvement

The Spar group released a trading update on Wednesday for the 17 weeks to January 27 2018, which showed a 7% improvement in sales to R 33.8 billion for the period.

Group sales increased by 7.9% and Spar businesses reported sales growth of 5.7%. Liquor sales remained strong, with growth going above 11.1%.

 

  1. Mining and gold production figures 

Mining production increased slightly for December, at 0.10%, after it increased 6.5% YoY in November 2017. This follows a 5.2% rise in the previous month, which was well above market expectations, data from Trading Economics shows. 

Gold production, for December dropped 12.4 % after a previous steep decline of 10.4% YoY in November 2017.                          

 

  1. MultiChoice will help reduce job losses at ANN7

MultiChoice, the owner of DStv, has agreed to cooperate with the Communications Workers Union on its concern around the job losses at ANN7, once the Gupta-owned channel is pulled off the DStv bouquet in August. MultiChoice has affirmed that it will develop practical solutions to reduce job losses at the channel, TechCentral reported

 

  1. Mining Indaba concludes

The Mining Indaba has reached its final day and positive sentiment is reverberating from the discussions. Members who were present have agreed on the need for more investment in the mining sector, a better political environment to operate in and work needed in the going concern of miners’ health and safety. On Wednesday it was reported that two Sibanye-Stillwater miners died, after a section of the Kloof gold mine collapsed.

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