File image: Supplied
File image: Supplied

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published Aug 29, 2019

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

1. MultiChoice declares R1.5 billion B-BBEE dividend

MultiChoice South Africa on Wednesday declared a R1.5 billion dividend to broad-based black economic empowerment (B-BBEE) scheme Phuthuma Nathi (PN) shareholders.

2. Eskom will go bust by March unless funding model is executed – Treasury

The National Treasury on Wednesday issued a strong warning to the country’s legislators, charging that Eskom could go bust by March next year if its proposed funding model was not executed.

3. Union UASA hopes new economic strategy blueprint will translate into action

South African trade union UASA has welcomed an economic strategy blueprint to boost growth and create jobs released by the National Treasury on Tuesday, although it said some of the proposals were not new.

4. Parliament committee opposes plans to cut jobs at SA Nuclear Energy Corporation

Parliament's portfolio committee on mineral resources and energy has signalled its opposition to any plans to retrench workers at the state-owned South African Nuclear Energy Corporation in response to cash shortfalls.

5. Strong African momentum drives Distell’s growth

 Liquor brands maker Distell said on Wednesday that it planned to split its international operations into three business units to double its revenue collection outside its home market of South Africa

6. SA Express flight cancellations ‘could be a sign that it and SAA should fold’

The abrupt cancellation of flights by SA Express on Wednesday could be a sign that it is now time for the state-owned airline and its parent company South African Airways to fold.

7. Economists give a cautious thumbs-up for Tito Mboweni growth plan

Economists bon Thursday gave a cautious thumbs-up to Finance Minister Tito Mboweni’s new growth plan, with most saying it could help to pull the country’s struggling economy from stagnation.


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