Moody's next move: What's next for SA; Shoprite, Dischem, Multichoice, wine markets

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  • Most analysts following South Africa expect it to lose its final investment-grade rating. But they disagree over when that might happen and what the consequences would be, says Bloomberg. Here's what might be next for SA.
  • Shoprite’s lead independent director, Shirley Zinn, resigned abruptly, two days after Christo Wiese’s almost 30-year stint as chairman was extended despite a majority of investors voting against his reappointment to the board, says Bloomberg.

  • Dischem saw its share price perk up, even though the company reported a 39% drop in interim profit on Thursday. Reuters says Dischem was hurt by strike-related costs and lower demand from suppliers.

  • Africa’s biggest pay-TV group MultiChoice, spun off from Naspers, said on Thursday it expects its core headline earnings per share for the first half of the year to be between 20% and 25% higher than during the same period last year, according to Reuters.

  • China, the world’s second-largest wine market, is ramping up efforts to produce its own high quality wine. China is among the top 10 export markets for South African winemakers, but exports to China have been falling in value.

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