In a half-year trading update, Pick n Pay reported proper sales growth at its cut-price Boxer stores – but its core brand continues to take strain.

An overview of the biggest business developments in SA and beyond.

Combined Motor Holdings, which sells vehicles under 29 different brands and also owns First Car Rental, has cut its dividend by almost a third after reporting a sales fall amid consumer pressure and a glut of vehicles among SA’s rental fleet.

President Cyril Ramaphosa has urged automakers to transition to new energy vehicles or risk being left behind by the country’s biggest trading partners.

PSG Financial Services’ share price shed 0.2% in lunchtime trade despite the group saying half-year earnings rose by almost a third thanks to a good showing from its wealth, asset management and insurance units.

African billionaire Aliko Dangote is wealthier than ever now that his long-awaited Nigerian oil refinery is up and running. But his mood suggests a man who just built his dream house only for the roof to start leaking.

Africa-focused ecommerce group Jumia Technologies, which is listed on the New York Stock Exchange, is shutting its Zando platform in SA after more than 10 years in the country.

An overview of the biggest business developments in SA and beyond.

Bailouts for cash-strapped South Africa’s state companies have cost taxpayers R456.5 billion over the past nine financial years, and the bill is set to rise to R520.6 billion by the end of March next year, according to the National Treasury.

Zimbabwe will begin compensating white farmers whose land was seized in 2000 and led to the decimation of agriculture and the economy.

Research from fintech group Altron has shown that the overall ability of SA’s households to take on and service debt improved in the second quarter of the year. But it was helped by a climb in employment, but more worryingly, long-term insurance surrenders that are providing a short-term boost.

SA’s only primary steelmaker ArcelorMittal warned on Wednesday its hopes for a better third quarter were derailed by a surprise downturn in global steel markets, as well as domestic woes.

Control of Roux Shabangu’s estate and that of his family trust now lies with the Master of the High Court, blocking him from selling or disposing of any assets.