EOH's toxic soup, Dan Matjila dishes out favours; SARB could cut rates

[Spread Business Maverick and share the knowledge.]( [Web version here.]( [Business Maverick with Tim Cohen]( Wednesday, 17 July 2019 "Power does not corrupt. Fear corrupts... perhaps the fear of a loss of power." John Steinbeck Story of the Day [A R1.2-billion pot of toxic soup at EOH]( [By Sasha Planting]( Eight people out of EOH’s staff of 11,500 put the entire organisation at risk through a systematic process of fraud, corruption and bribery that saw R1.2bn of irregular payments flow out of the company between 2014 and 2017. The company believes it has stemmed the rot. ON THE MARKETS Exchange Rates R/$ = 13.94 +0.27% R/£ = 17.24 -0.88% R/€ = 15.64 -0.12% R/BTC = 144,199 +0.61% At -+5am or latest: % open to close Trading the Markets JSE All Share = 58,052 +0.90% Dow Jones = 27,336 -0.09% Oil ($/bbl) = 64.45 -3.08% Gold ($/oz) = 1,405 -0.06% WHILE YOU WERE SLEEPING [Lawyer Who Took on Brexit May Sue Over Suspending Parliament]( The lawyer who won a landmark ruling that allows the UK to reverse Brexit is considering what could be one of several lawsuits seeking to block any attempt to suspend Parliament to force through a no-deal departure from the bloc. [US to Withhold F-35 Fighters From Turkey]( Donald Trump said the US would withhold sales after Ankara received a new air-defence system from Russia, putting new strains on the North Atlantic Treaty Organisation. [Limited Liability of Big Tech Under the Microscope]( US senators used a Congressional hearing on Tuesday to push the idea of overhauling a law that protects YouTube, Facebook and other internet services from being sued for the content users post. [Five Things You Need to Know to Start Your Day]( Donald Trump threatens more China tariffs. Oil slides on the prospect of easing the geopolitical risk. And North Korea is probably suffering its worst downturn since its 1990s famine. Here are some of the things people in markets are talking about today. In Numbers R1-billion That is the budget for the Small Business and Innovation Fund, which is jointly run by the departments of small business development and science and technology for the 2019/20 financial year. The Small Enterprise Finance Agency (Sefa), which administrates the fund, will announce details on how entrepreneurs, innovators and small businesses can access financing in the first week of August. Fact of the Day A $50-million rhino bond, the world’s first financial instrument dedicated to protecting a species, has been launched. Investors will be paid back their capital and a coupon if black rhino populations across sites in Kenya and South Africa increase over five years. The yield will depend on the change in the rhino population. The so-called “outcome payments” model has been used by other issuers to finance health and education projects in the past. Featured Articles [Dan Matjila, a man who dished out favours to politicians and their next of kin]( [Dan Matjila, a man who dished out favours to politicians and their next of kin]( By Ray Mahlaka [Reserve Bank is likely to cut rates, but how low can it go?]( [Reserve Bank is likely to cut rates, but how low can it go?]( By Ed Stoddard Opinionistas [OPINIONISTA: Small Biz Bites: Life’s a pitch, get used to it]( A column by Sukasha Singh [OPINIONISTA: Appointments to SOEs show that a new elite displaced an old elite at Nasrec]( A column by Xolisa Phillip [FORWARD THIS EMAIL TO A FRIEND]( [Fb]( [Tweet]( [Yt] Copyright © 2019 Daily Maverick, All rights reserved. You are receiving this mail because you are awesome and on the Business Maverick subscriber list. Interested in advertising with us? [Click here to sign the pact.]( [Getting too many emails from us? Manage your preferences]( [Unsubscribe](