A good week

Many business leaders prefer to operate in a bubble, too timid to speak up about the country’s problems and how to face them. But it was just like Johnny Copelyn to step up to the plate.

At a time of acute national unease over the state of the economy, and with factional knives out for his old comrade Cyril Ramaphosa, the redoubtable former trade unionist and boss of HCI (the JSE’s largest empowerment group), had the guts to spell out, in the company’s latest annual report, certain home truths about SA and its challenges.

A bad week

While he must know the government has the scalpel out for private medical aids, Discovery CEO Adrian Gore was no doubt stung by the extent of the beating his company’s stock took on the JSE after the National Health Insurance Bill appeared on Thursday.

Discovery’s share price has dived more than 19% on the bill’s release, wiping R16.5bn off its market cap. It’s unlikely the bill will be passed as is, yet Discovery’s share has shed 32% since July, compared to a 10.3% drop in the health-care index. Is there more going on?