Reserve Bank deputy governor Francois Groepe has resigned.
Reserve Bank deputy governor Francois Groepe has resigned.

7 things you need to know today

By Compiled by Gabriella Steyn Time of article published Jan 3, 2019

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

1. Zimbabwe senior doctors join strike as health crisis deepens

Senior doctors in Zimbabwe have joined the strike started last month by their junior colleagues who are demanding to be paid in US dollars as that country's surrogate currency - bond notes - rapidly lose value and face growing market rejection.

2. Apple’s share price slumped 7% in after-hours trading last night

Apple’s warning on Wednesday about weak iPhone demand in the holiday quarter is a gloomy omen for Wall Street bulls hoping for an early gift in 2019 following December’s steep selloff.

3. The deputy Reserve Bank governor Francois Groepe unexpectedly resigned

 The South African Reserve Bank (Sarb) on Wednesday announced the resignation of deputy governor Francois Groepe effective January 31, 2019. 

Groepe tendered his resignation during December to pursue outside opportunities. 

4. Rand falls to 3-month low in global selloff

The rand tumbled to its weakest in three months on Thursday as emerging market currencies were hit by a wave of risk aversion as fears about global growth intensified according to a report by Reuters. 

5. Total starts production at Nigeria's deepwater Egina oilfield

Total SA said on Wednesday it had started production from the Egina oilfield off Nigeria’s coast, part of a shift by the French energy firm towards deepwater oil and gas projects to its drive cash flow.

6. Delta Beverages to accept cash only amid currency crunch

Zimbabwe’s largest brewing company Delta Corporation said on Wednesday that its beverages subsidiary will accept hard currency only from Jan. 4 to protect itself from a crippling shortage of US dollars in the country.

7. Mobile Network Rain is successfully testing eSIM technology

According to a report by my Broadband, Rain CEO Willem Roos made the statement saying that they are working to commercialise their eSIM offering in the first quarter of 2019.


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