Photo: Bloomberg
Photo: Bloomberg

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published May 13, 2019

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

1. Molefe had 'unbundled' confinement tenders

Transnet's executive manager for governance, Peter Volmink, on Friday lifted the veil on the impunity with which former group executive Brian Molefe and chief financial officer Anoj Singh handled tenders at the company, going as far as keeping tenders secret up until they were awarded.

2. Vodacom group revenue up 4.3% to R90.1bn in year to March

Mobile phone company Vodacom said on Monday its service revenue rose five percent to R74.2 billion in the year ended March, while group revenue was up 4.3 percent to R90.1 billion.

3. Lonmin's swing to profit doesn't get it out of the woods

Lonmin's liquidity will continue to haunt it, despite the platinum producer swinging to a $70 million (R990m) interim operating profit, which was hampered by low staff morale and high management turnover.

4. Election win puts the focus on Ramaphosa

The rand was expected to test the R14 mark against the dollar today after the unit rallied on Friday night after the ANC’s election victory.

5. Global power management firm charts a path towards sustainable power for Africa

Microgrid energy systems that incorporate energy storage and renewable energy can be effectively used to address Africa's challenges of energy access, resiliency, and cost, global power management company Eaton Africa said on Friday.

6. WATCH: Rand garners support from improving global risk appetite

The South African rand garnered support on Friday from improving global risk appetite following a tumultuous week, while riding the wave of relief in the aftermath of an uneventful national poll according to NKC Research. 

7. SA NGO partners with Amazon Web Services to manage workload

Grassroot an NGO that was launched in 2015, is enabling communities on the ground to effect participatory democracy by providing them with the technology to organise themselves. 


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