Flash Briefing: Discovery #2 insurance brand globally; Capitec business banking green light; BAT's Twisp deal challenged; MSM, Netcare still falling

Innovative South African group Discovery has been rated as the world’s second strongest insurance brand. South African banking’s great disruptor, Capitec, was yesterday given the green light to acquire a ready-made vehicle to enter the business banking market. More action will play out at the Competition Tribunal today where two large players in the cigarette sector, Gold Leaf Tobacco and Philip Morris South Africa, will be petitioning for a blocking of the proposed merger between their competitor BAT and the country’s leading Vaping brand, Twisp. South African share prices ended yesterday’s trading session slightly lower with a half percentage point drop reflected in 182 shares falling and 155 finishing higher.