Eskom spokesperson Khulu Phasiwe, responding to questions from Business Report, said the power utility had secured 14 new coal contracts in September and October and some were for Majuba Power Station. Photo: Nadine Hutton /Bloomberg.

CAPE TOWN – Good morning. This is all the latest business news that you need to know today.

1. Telkom interim earnings down 3.3%

Telephone company Telkom said on Tuesday its headline earnings per share were down 3.3 percent to 288 cents in the six months to September.

2. Payroll Association points out Sars account mistakes

The South African Payroll Association (Sapa) has laid down the marker for the SA Revenue Services (Sars) over what is called an ongoing statement of account errors in some of the country's biggest companies.

3. Group Five accused of lying to shareholders

Listed Group Five has been accused of being untruthful to shareholders in claiming last month that it would complete its troublesome $410 million Kpone power plant in Ghana by the end of that month.

4. Vodacom surpasses expectations, raises interim dividend payout

Vodacom yesterday increased its interim dividend payout for the six months to September to R7.52 billion, beating expectations and signalling it was poised for growth.

5. Eskom in frantic search for coal amid load-shedding fears

Eskom is pursuing urgent coal purchasing from current suppliers and those suppliers that are not currently contracted to Eskom as the stockpile at its power stations dwindle, forcing the state-owned entity to resort to burning diesel.


6. Expropriation without compensation in SA will lead to economic disaster

South Africa would experience an “imminent socio-economic disaster” if expropriation without compensation (EWC) was pursued, with the anticipated decline in gross domestic product (GDP) possibly leading to a loss of more than 2.28 million jobs, according to an independent economic impact assessment of the proposed policy.


7. Mettle releases first results after its unbundling

Alternative Exchange (AltX) listed company Mettle Investments released its first set of results after it was unbundled from Tradehold in May, boosted by its investment in Reward, which contributed the most of the group's profits for the six months to end August. 


BUSINESS REPORT ONLINE