A good week
What started out as a side project to help China’s fledgling online shopping industry 16 years ago is set to become the world’s biggest-ever IPO, cementing founder Jack Ma’s status as one of the internet’s savviest entrepreneurs. So-called because of his belief that "small is beautiful, small is powerful", the Ant Group, part of Ma’s Alibaba empire, is set to raise $35bn when it goes public on the Hong Kong and Shanghai stock exchanges later this year, with an estimated value of up to $300bn.
A bad week
Mosebenzi Zwane’s testimony at the state capture commission of inquiry was telling. Aside from faking a cabinet decision on the Reserve Bank, alienating the mining sector, bullying the banks to reopen the Gupta bank accounts and funnelling money intended for poor farmers, he allegedly had a hand in looting a R1.6bn housing budget by being conveniently ignorant of procurement laws. It shows how culpable deniability, rank ignorance and a lack of accountability are rewarded in the ANC’s deployment process.
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