File image:  Henk Kruger African News Agency (ANA)
File image: Henk Kruger African News Agency (ANA)

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published Nov 26, 2019

Share this article:

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

1. Ramaphosa urges business to do more for blacks

President Cyril Ramaphosa yesterday urged businesses to do more to end the legacy of apartheid and give black people a meaningful role in the economy, only a week after coming under fire for appointing a white man as head of the country’s largest state-owned company.

2. WATCH: Rand trades weaker overnight

The South African currency reversed initial gains yesterday as traders looked for trade deal clarity, while depressed sentiment owing to negative rating action by ratings agency S&P Global Ratings on Friday evening put further pressure on the local South African unit according to NKC Research.  

3. Sasol warns of 20 percent slump in half-year headline earnings per share

Sasol, the JSE-listed global chemical and energy giant, on Monday warned of a 20 percent slump in its half-year headline earnings per share (Heps) to December as it announced that it had enhanced its liquidity after securing a $1 billion (R14.70bn) loan from its lenders.

4. Eskom is named South Africa's top emitter

Eskom Holdings, which accounts for two-fifths of South Africa’s greenhouse-gas emissions, leads the country’s biggest emitters in its failure to set targets to reduce its impact on the climate, a report shows.

5. Pepkor mauled by contraction in building materials market

South African retailer Pepkor Holdings has suffered a write-down of goodwill and intangible assets of R1.2 billion in its building materials segment as a result of the contraction in the building materials market.  

6. Exclusive leases must fall: Commission cracks whip on Shoprite, Pick n Pay, Spar, Woolies

The Competition Commission Inquiry into Grocery Retail, published on Monday, called for an end to the exclusive leases negotiated by national retail chains in all shopping malls across the country in a bid to open up access to markets for smaller players.

7. Co-working spaces company Workshop 17 launches new office in Cape Town

Workshop17’s latest state-of-the-art collaborative facility in Cape Town’s City Bowl has 30 modifiable private offices, hot-desking, café co-working, meeting rooms, boardrooms and a top floor café area.


Share this article:

Related Articles