Zuma in spotlight; $2bn Tuna Bond twist; Hulamin slumps to loss; Huawei lays off US staff

Former South African president Jacob Zuma is back in the spotlight today when he takes the stand at the Deputy Chief Justice Raymond Zondo’s commission of inquiry into State Capture. There’s been another twist in Mozambique’s $2bn Tuna Bond scandal. South Africa’s new justice minister, Ronald Lamola, has blocked the release of former Mozambiquan finance minister Manuel Chang, who is deeply implicated in the scandal. China’s Huawei Technologies is planning extensive layoffs at its US operations, as a direct consequence of its blacklisting by US president Donald Trump. Embattled Tongaat’s one-time stablemate Hulamin has been hitting obstacles of its own with the share price losing almost 6% on Friday.