CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. Eskom paid more than R1bn to Guptas
Eskom has paid a Gupta-owned mine nearly R1 billion this year for coal it has not received, despite the utility flagging that its coal supply was at record lows that has lead to blackouts.
2. Be prepared for loadshedding with these apps
In October, South Africa’s state-owned power utility Eskom warned of the risk of load-shedding following power constraints due to maintenance and unplanned outages at several of its electricity-generating units.
3. Shake-up at Sibanye on the cards
Sibanye-Stillwater is set to undergo an organisational review that would affect its management structure after the Competition Tribunal last week gave the group's multibillion-rand takeover of platinum producer Lonmin the green light.
4. R56m Toyota manufacturing institute opens in KZN
Representatives from national, provincial and local government, academia and the business sector today welcomed the establishment of South Africa’s newest manufacturing institute.
5. Vodacom appoints two new directors
Mobile telecoms giant Vodacom is appointing seasoned business executive Phuthi Mahanyele-Dabengwa along with Thomas Reisten as an independent non-executive director and non-executive director, respectively, on its board from January.
6. Accelerate's rental earnings deccelerate by 4%
Accelerate, the listed property fund, recorded negative rental reversions on renewals in the half-year to end September as tenants came under increasing pressure in a strained economic environment.
7. SA power system remains tight, low chance of load shedding – Eskom
The power system remained tight on Monday, with low to medium probability of load shedding during the week, Eskom said.