ArcelorMittal is about to add to the country's unemployment crisis as it prepares to mothball its Saldanha Works steel plant in the Western Cape. While the group says the decision has been a tough one, the plant is making unsustainable losses. More than 500 employees and hundreds of contractors will be affected as it places the plant on care and maintenance as part of a wider restructuring of its operations that may ultimately result in about 2,000 job losses.

More on that in today's newsletter, along with news that Aspen has sold its operations in Japan in a move that will help the pharmaceuticals group reduce its debt burden. And Prosus is meeting resistance from takeover target Just Eat and rival suitor Takeaway.com as it moves forward with its hostile bid for the food delivery group.

Also results from video entertainment giant MultiChoice and construction group Raubex.

Meanwhile, Vodacom has reported good first-half growth, helped by its businesses outside SA - including mobile money platform M-Pesa, which is growing faster than expected across the continent.

If you are looking for another route to jump on the fast moving digital currency/payment train, My-iMali Mobile Money has developed a unique platform and go-to-market strategy that Bridge Capital believes will catapult them to the front of a noisy pack.

While others have spent their marketing dollars on selling virtual money services and products to consumers and subscribers, My-iMali has built a product for a much more robust market - the upstream employer who currently shoulders the expense and administrative complexity of paying staff weekly or monthly.

This is why we recommend them as an exciting high-growth small company with potential for big returns. Click here if you'd like to know more.

I hope you have a good week.

Stephen Gunnion

Managing Editor, InceConnect

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