File image: IOL
File image: IOL

7 things you need to know today

By Dhivana Rajgopaul Time of article published Sep 5, 2019

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

1. Mastercard focuses on gender: Failure to integrate women into economies costs Africa $95 billion

Mastercard put the spotlight on gender diversity and female entrepreneurship at the 28th World Economic Forum (WEF) on Africa during its “Together We Lead” event.

2. WEF Africa: Opening the doors to African innovation

Technology is the key to opening the doors to the African continent's sustainable future. This is a fairly broad statement, particularly as the word “technology” encompasses such a wide range of parameters.  

3. Discovery Bank says it already has more than 22 000 clients since its inception

Discovery, the JSE-listed financial services group, on Wednesday reported that its new banking offering has more than 22 000 clients, with more than 50 000 accounts as the group spent 21 percent of earnings on new ventures, including the bank.

4. Embattled Steinhoff closes in on ‘rogue’ executives

Embattled retailer Steinhoff International on Wednesday told legislators in Parliament that it was in the process of implementing claims against executives and directors implicated in the financial irregularities that nearly brought the company to its knees in 2017. 

5. Cyril Ramaphosa urges investors to help salvage economy in moves to revive investment drive

President Cyril Ramaphosa on Wednesday moved to revive his investment drive, vowing that the government would overhaul the foreign direct investment (FDI) promotion architecture in South Africa.

6. WATCH: Better than expected Q2 GDP release helps the rand carry positive momentum

Tuesday’s better-than-expected Q2 GDP release helped the rand carry positive momentum into yesterday’s European session to rally below the psychological R15/$ threshold amid easing global trade tensions according to NKC Research. 

7. Eskom promises to keep churning power

Struggling power utility Eskom promised to ramp-up the maintenance of its neglected generation units in the next seven months to ensure that the country had enough power to sustain its economic demands.


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