Shareholders of Tongaat Hulett's reject a plan to exchange the company's debt for fresh equity | More "tiering" of bank licenses is permitted by SA's banking watchdog.

Stephen Grootes talks with analyst and shareholder activist Dave Woollan about Tongaat Hulett's shareholders' rejection of a plan to convert the company's debt into equity, which would have drastically reduced their ownership stake.  Hilary Joffe, columnist and editor-at-large at Business Day with Stephen Grootes discuss how South Africa's banking regulator is considering extending the number of "tiers" for commercial banking licenses. And more…See omnystudio.com/listener for privacy information.