EDITOR’S LUNCHBOX: SABC board flounders again as directors flee
NHI Bill still needs attention, and Spur Corp’s shareholders shoot down group’s pay policy again
Stories of note
Bytes from the digital world
The National Health Insurance (NHI) Bill needs more work, the cabinet told health minister Aaron Motsoaledi.
The resignations of SABC nonexecutive directors Mathatha Tsedu, John Matisonn, Khanyisile Kweyama and Krish Naidoo in response to communications minister Stella Ndabeni-Abrahams's refusal to allow the state broadcaster to cut its bloated wage bill, has left its board without a quorum.
In my opinion
Matters of debate
The average SABC staff member gets paid about R600,000 a year, and the organisation is losing about R600m a year. So former Nestlé executive Madoda Mxakwe who took on the job of trying to salvage the SABC has little option but to cut its headcount, writes Tim Cohen.
“If we are to ever solve our country’s problems, which are real and substantive, we can’t, ironically, obsess myopically about what we perceive to be the negatives,” says Discovery CEO and student of behavioural economics, Adrian Gore.
The long and the short of the markets
The yield on Eskom's $1.25bn of eurobonds maturing in 2025 jumped an enormous 46 basis points to 9.35% after the utility admitted it was in crisis.
For the second year in a row, Spur Corporation’s shareholders have shot down the group’s pay policy, this time with an unprecedented three-quarters of the vote.