File image: IOL
File image: IOL

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published Nov 27, 2019

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

1. South Africa is emerging as a new hub for Retail Forex Trading

South Africa's financial market is said to be the most developed & organized in Africa led by big Banks like: Standard Bank, ABSA, FNB, FirstRand, Nedbank & local Stock Exchange (JSE) which is the largest stock market in Africa with daily trading volume of R23.7 billion. 

2. Attacq forecast for distribution per share within the 8% to 10% range

Attacq real estate investment trust, which has Waterfall City as a key development, is holding its distribution per share guidance forecast at 8 to 10 percent for the financial year to June 2020, chief executive Melt Hamman said on Tuesday.

3. 'Tech, Green Economy key to SA finding new niches for a competitive edge'

Technology and the Green Economy could be the future for South Africa and the province in particular now that manufacturing was no longer the force in the economy it once was.

4. WATCH: Rand buckles under external factors

The South African currency buckled under external factors – including a more buoyant greenback – as well as fiscal and debt sustainability warnings according to NKC Research. 

5. African Bank takes its foot off the pedal, targets 25 000 customers a month

African Bank has moved to set a realistic target for its customer base, due to South Africa’s lacklustre economic environment, and has revised it down to 1.7 million customers in 2021 compared with a previous goal of reaching 2.5 million.

6. Omnia turnaround strategy stabilises the group’s debt

JSE-listed diversified chemicals group Omnia, which operates three segments – agriculture, mining and chemical – says its agricultural division is facing some headwinds as a result of a drought. Photo: Supplied’ turnaround plan has stabilised the group in the six months to end September as it cut its debt by R1.4 billion.

7. Sagarmatha applies for offshore listing

Sagarmatha Technologies Limited, a multi-sided African platform technology group, has started the process of securing an offshore primary listing and has been engaging with the SA Reserve Bank (Sarb) and the National Treasury. 


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