CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
1. SA firms bring home two awards from Xerocon
Two South African accounting firms did the country proud by winning awards at Xero’s annual event, Xerocon London 2018 last week.
2. Standard Bank enters airtime and data market with new service
Standard Bank yesterday announced its foray into the lucrative airtime and data market with the launch of its mobile virtual network operator (MVNO) service, Standard Bank Mobile (SB Mobile).
3. UFO helping Lewis Group to fly higher
Lewis Group’s share price rose by more than 9 percent on the JSE after the credit retailer reported 25.9 percent growth in merchandise sales, driven by its acquisition of United Furniture Outlets (UFO).
4. Fuel queues resurface in Zim as forex shortages bite
Zimbabwean Energy and Power Development Minister Joram Gumbo on Wednesday, said fuel suppliers were demanding upfront payments before they could release the fuel into the market.
5. Deteriorating SOEs pose risk to economy – Makwetu
The finances of state-owned entities had deteriorated and remained a risk to the economy, auditor-general Kimi Makwetu warned yesterday.
6. Rand breaches R14/$ on rate hike expectations
The rand yesterday breached the R14 against the dollar mark as the markets anticipated an interest rate hike after October’s consumer inflation print spiked 5.1 percent year-on-year from 4.9 percent in September.
7. Makro says sorry for #BlackFriday website crash
Makro customers were left fuming earlier on Wednesday as the path to their anticipated black Friday deals were blocked after the retailer's website crashed.