Ramaphosa reportedly presents final Cabinet offers to GNU partners; IEC asks court to dismiss MK’s case; Ayo agrees to pay R613 million to PIC; and Coronation shares rebound.
Ramaphosa presents final “take it or leave it” offers to GNU partners:that President Cyril Ramaphosa revised an offer, swapping a key performance ministry with a lesser portfolio that was never considered before. The DA is reportedly still offered six Cabinet seats, but one with a less impactful ministry. The ANC has given this as a final offer, with Ramaphosa planning to announce his Cabinet soon.
3 billion investment for a 29% stake by the PIC before Ayo’s 2017 JSE listing. The deal comes after the PIC, under former CEO Dan Matjila, sued to nullify their initial agreement with Ayo, claiming it was based on false representations. [The tax dispute between Coronation Investment Managers South Africa and SARS ended with the Constitutional Court favouring Coronation. This resulted in Coronation’s share price increasing by 10% in one week and 15% over the year.
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