File image: IOL
File image: IOL

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published May 28, 2019

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

1. Smartphone sales in 7 percent decline

Smartphone unit sales in South Africa have declined by about 7 percent year-on-year in the first quarter of 2019, while the value of the smartphone market climbed by nearly 3 percent to around R8.6 billion, as shoppers splashed out on higher-end models with larger screen sizes. 

2. Lekwa municipality water supply problems hit Astral Foods poultry processing plant

Integrated poultry producer Astral Foods said on Tuesday the water supply constraints stemming from the deterioration of infrastructure in the Lekwa municipality which supplies its processing plant in Standerton were having significant cost implications for the company.

3. Ramaphoria spurs SA’s happiness index

South Africa warmly received the inauguration of President Cyril Ramaphosa on Saturday with the general happiness levels registering higher than other comparative days.

4. Stop graft in state and business for clean slate

Corruption within the government and state-owned enterprises (SOEs) has been very well covered, but not enough has been said about the role of the business sector, investment entrepreneur Steven Nathan said on Monday. 

5. Elections are done: Where to now for the SA economy?

President Cyril Ramaphosa inherited a multi-faceted socio-economic crisis when he took office in 2018. 

6. #PICInquiry: Head of HR denies wrongdoing

The executive head of human resources at the Public Investment Corporation (PIC), Chris Pholwane, strongly dismissed claims that he was implicated in wrongdoing at the embattled asset manager.

7. SA Agribusiness records $660m trade surplus in the first quarter

Data from the Agricultural Business Chamber (Agbiz), which represents commercial farmers and agribusiness enterprises, yesterday showed that the sector weathered the tough start to the year and recorded a trade surplus of $660 million (R9.53 billion) in the first quarter, up 11 percent from the same period last year.


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