The JSE closed weaker on Thursday as industrials and miners retreated on a stronger rand, and as Naspers lost ground following reports of impropriety at MultiChoice. At the JSE’s close the rand was at R13.5898 to the dollar, from Wednesday’s R13.6598. The all share closed below 60,000 points for the first time in two weeks, as the market took a risk-off view ahead of the ANC’s elective conference in three weeks time, while Finance Minister Malusi Gigaba said the government was working on the provision of free higher education "in a sustainable way". Naspers faced headwinds at its MultiChoice division, amid reports that management at the group’s pay-TV subsidiary may have unduly influenced government policy. Minutes of a high-level 2013 meeting between SABC executives and MultiChoice suggest the group tried to use a R500m payment for an SABC news channel as cover to secure influence over government policy on encryption. Naspers is yet to officially comment on the matter, but CEO Bob ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.