Picture: janwardenbach/Pixabay
Picture: janwardenbach/Pixabay

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published Dec 10, 2019

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

1. Stage 4 load shedding to continue until 11pm on Tuesday, says Eskom

Eskom says it will continue with rolling power cuts throughout Tuesday as it struggles to recover from a series of setbacks which saw South Africans subjected to Stage 6 power cuts on Monday.

2. WATCH: Rand trips as load shedding intensifies

The South African currency whipsawed during yesterday’s European session as markets reacted to the implementation of yet more load shedding according to NKC Research. 

3. Petra Diamonds halts mining due to load shedding

Mining company Petra Diamonds said it was in the process of halting its operations in South Africa following a request by state-owned power utility Eskom to reduce its electricity load.

4. Fikile Mbalula axes CEO Nkosinathi Sishi and entire Prasa board

Transport Minister Fikile Mbalula on Monday wielded the axe at the Passenger Rail Agency of South Africa (Prasa), firing acting chief executive Nkosinathi Sishi with immediate effect to dissolve the troubled parastatal’s interim board and place the entity under administration for 12 months.

5. Eskom load shedding devastating small businesses, says union

Rolling blackouts by state-owned electricity utility Eskom are hurting small businesses the most, as many cannot afford fuel-powered generators for alternative sources of energy, one of South Africa's oldest trade unions UASA has said.

6. Government will retain ownership of all strategic SOEs - Ramaphosa

President Cyril Ramaphosa said yesterday that the government was not ready to totally dispose of its loss-making core assets, including cash-strapped entities Eskom and South African Airways (SAA).

7. WATCH: Loot.co.za links up with Pargo to provide 2 500 Pick-up Points nationwide

Loot.co.za, one of South Africa’s leading online retailers, has partnered with Pargo, a smart logistics company that solves challenges of last-mile distribution, to give customers access to 2 500 Pargo Pick-up Points across South Africa.


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