Eskom said in a statement that the initial schedule was to implement stage two load shedding on Monday as a result of generation shortages over the weekend and constraints in diesel supply.

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

1. Eskom board meets with Gordhan over unexpected #loadshedding

The Eskom Board on Monday convened an urgent meeting with the company’s executive management and the Minister of Public Enterprises Pravin Gordhan following the unexpected introduction of load shedding.

2. Eskom stage 4 load shedding wipes away rand gains

The rand on Monday surrendered its gains this year, backtracking nearly 1 percent to R13.769 against the dollar at 5pm, after Eskom implemented stage 4 load shedding for the first time in nearly five years. 

3. Ramaphosa puts process in place to probe Treasury DG Dondo Mogajane

President Cyril Ramaphosa yesterday effectively put in place a process to probe National Treasury director-general (DG) Dondo Mogajane, putting his 20-month tenure a risk. 

4. Woolies takes a knock two more directors call it quits

Woolworths extended its losses on the JSE yesterday after the food and clothing retailer announced the surprise resignation of veteran banker Gail Kelly and businessperson Patrick Allaway as independent non-executive directors with immediate effect.

5. New Ford Rangers roll off R3bn upgraded assembly line

 Production has commenced of the new Ford Ranger at the vehicle manufacturer’s assembly plant in Silverton in Pretoria, following an investment of more than R3 billion in extensive upgrades to its plant and its local operations.

6. SAVE OUR SUGAR: Desperate sugar cane farmers send SOS to Ramaphosa

The sugar industry growers are calling for President Cyril Ramaphosa’s intervention in an effort to help save the multibillion-rand sector from imminent collapse. 

7. Soweto businesses get full land ownership rights

Some 36 business owners and non-governmental organisations in Soweto on Monday received title deeds through the Johannesburg Property Company’s Land Regularisation Programme, mayor Herman Mashaba said.

BUSINESS REPORT ONLINE