CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. Spur banking on new tech opportunities
Spur Corporation plans to capitalise on the opportunities provided by technology to expand its customer base by using services like Uber Eats and Mr Delivery.
2. FirstRand braces for tough times
FirstRand is anticipating tougher trading conditions in South Africa as the country entered a technical recession, but the group remains confident that its diversified portfolio will pull it through as it continues to report top-line growth in its businesses.
3. President authorises SIU probes into water and santitation tenders
President Cyril Ramaphosa has authorised the Special Investigating Unit (SIU) to investigate suspected wrongdoing by public servants and persons or entities in the private sector in the awarding of tenders or contracts by the national Department of Water and Sanitation and the Ekurhuleni and Ethekhwini metropolitan municipalities.
4. City of Cape Town to take out R1.4bn loan... and ratepayers may have to pay it back
Despite the country’s economic stagnation and the recession, the City of Cape Town is planning a €80 million (more than R1.4 billion) international loan to upgrade its wastewater plants, but economists warn ratepayers will ultimately have to foot the bill.
5. Tweeps call out KFC's #DunkedBurger
South African chicken fast food restaurant, KFC hosted an event today, where they handed out their new "dunked burger" to those in attendance, including some celebrities.
6. Engineering institution cut the cord on CEO for sexist comments
The South African Institute of Civil Engineering (SAICE) announced in a statement that it will be parting ways with its CEO Manglin Pillay on Thursday after he made sexist comments questioning whether women are suited to high-powered careers.
7. Science minister to launch Mahikeng Astronomy Telescope in North West
Science and Technology Minister Mmamoloko Kubayi-Ngubani is expected to launch the Mahikeng Astronomy Telescope (MAT) at the North West University on Friday.