Good morning. This is all the latest business news that you need to know today.
1. Breather for rand kills rate hike fear
South Africa’s battered rand got a reprieve yesterday, with inflation surprisingly on the downside, alleviating concerns that the South African Reserve Bank (Sarb) will hike interest rates next month.
2. Farmworkers suffer as corporations coin it
Nearly 90 percent of women on grape farms in South Africa have reported not having enough to eat the previous month.
3. WATCH: 5 SA startups selected for Startupbootcamp finals
Five South African startups have been invited for the Final Days Selection of the Startupbootcamp accelerator competition.
4. Tiger Brands won’t know how bacteria entered plant
Tiger Brands is reportedly concluding it’s three-month long investigation into how the listeriosis bacteria entered it plant and its CEO, Lawrence Mac Dougall reportedly said that the reason may not be determined, reports Fin24.
5. Rand Water invests R300 million in emergency power stations
Rand Water reportedly invested R300 million in emergency energy supplies in order to maintain a smooth flow of water supply, reports Business Day.
6. Old Mutual seeks opportunity abroad
Old Mutual is reportedly looking at investment opportunity in Brazil and Mexico, following SA’s slow economic recovery, reports Business Day.
7. The rich will subsidise the poor
Health Minister, Aaron Motsoaledi is reportedly expected to release proposals surrounding the universal health coverage of SA, reports Eyewitness News.