File image: IOL
File image: IOL

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published Nov 20, 2019

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

1. Reserve Bank likely to keep interest rates steady for consumers' benefit

Low inflation is set to benefit consumers this festive season as the South African Reserve Bank (Sarb) looks set to leave interest rates unchanged at its final meeting for the year tomorrow.

2. Bokomo buys 51% Tongaat Hulett Namibia stake for R220m

Sugar producer Tongaat Hulett said on Tuesday that it had sold its 51 percent stake in Tongaat Hulett Namibia (THN) to Bokomo for R220 million to reduce its debt.

3. Pick n Pay launches new products for health food range

Pick n Pay will now help customers make more informed choices in a major healthy eating drive to make healthier eating cheaper, easier, and more accessible.

4. Taste Holdings is getting ready to dispose of Maxi’s and The Fish & Chip Company

Taste Holdings on Tuesday announced it would offload food brands Maxi’s and The Fish & Chip Company as part of its continuing change and new strategic direction. 

5. Pravin Gordhan says there’s no money for SAA wage demand

Public Enterprises Minister Pravin Gordhan has washed his hands of strike-ridden SA Airways (SAA), telling the national carrier and unions that the government could not afford the unions’ wage demand, as it had no additional funding.

6. Telkom slump deepens after Cell C signs roaming pact with rival

Telkom SA SOC Ltd. shares extended their slump in Johannesburg after its acquisition target, Cell C Pty Ltd., agreed to an extended roaming deal with rival MTN Group Ltd.

7. WATCH: Greenback weakness offers reprieve to rand

The South African currency traded little changed as a US-Sino trade deal impasse curbed risk appetite. Broad-based greenback weakness however provided some reprieve to the local unit according to NKC Research.


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