Latest Business News: Telkom’s financial boss moves to MTN, Strong sales for Oceana & Glasenberg to retire

Telkom’s financial boss moves to MTN

Telkom’s chief financial officer Tsholofelo Molefe has resigned to join MTN. She has been Telkom’s CFO for two years, and joined the company in 2016.

She will be joining recently appointed CEO, Ralph Mupita’s team. Mupita took over as CEO of the mobile operator in September this year after the departure of Rob Shuter

Glasenberg to retire

South African Glencore CEO Ivan Glasenberg has announced that he will retire early next year after 36 years with the company.  He will be succeeded by Gary Nagle, who is currently head of the company’s coal division. Nagle is a South African, and according to The Sydney Morning Herald, known as a “mini Ivan”  – like Glasenberg, he also studied accounting at the University of Witwatersrand, for example.

Nagle will have his work cut out for him – Glencore is currently being investigating by regulators for alleged corruption and bribery. The company – which is one of the world’s biggest polluters – has also pledged to cut its greenhouse gas emissions to net zero by 2050.

Pick n Pay, Shoprite wants to help with vaccine

Pick n Pay and Shoprite have confirmed that they can play a part in distributing vaccines in South Africa.

Govt wants $400m for SAA stake

Government wants to raise $400 million from the sale of a stake in SAA, Bloomberg reports. This looks doubtful.

Strong sales for Oceana

The fishing group Oceana saw its annual revenue increased by 9% thanks to by increased fishmeal sales volumes, and sustained demand for canned fish.

Business Insider SA

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