CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
1. New Development Bank’s $180m lifeline for Eskom
Cash-strapped power utility Eskom yesterday received a $180million (R2.56billion) cash injection from the New Development Bank (NDB) to fund the integration of renewable energy into the grid, and to augment transmission projects.
2. Squeezed consumers see new vehicle sales drop
Data from the National Association of Automobile Manufacturers of South Africa (Naamsa) showed that pressure was mounting on the new-vehicles sector due to consumers’ depressed disposable income and the weaker rand. Naamsa said new vehicle sales dropped 3.1percent year-on-year to 47718 units in March.
3. Umhlanga Ridge Town Centre merges residential, commercial and retail
Umhlanga Ridge Town Centre is one of Kwazulu-Natal’s prized live-work-play regions and is driving the definition of dynamic urbanism.
4. AYO shows excellent growth in profits and job creation
AYO Technology Solutions, one of the largest broad-based black economic empowerment (B-BBEE) information and communications technology company in South Africa announced on Monday that it now employs 1 400 people, compared with 250 in 2018.
5. WATCH: UK-SA Tech Hub to launch a future females business school
The UK-SA Tech Hub in partnership with Future Females are proud to announce the official launch of the Future Females Business School Program at Work in Progress at the Woodstock Exchange in Cape Town.
6. Youth unemployment in SA a 'human catastrophe', says Nobel laureate
Nobel laureate Paul Romer on Monday described South Africa as an "economic disappointment", citing the high levels of unemployment among the country's youth, calling it a "human catastrophe".
7. Crowdfunding: an untapped funding resource for renewable energy
Small and innovative renewable energy projects battle to raise funds through formal channels.