Photo: IOL
Photo: IOL

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published Mar 11, 2020

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

1. MTN Chief Executive Rob Shuter steps down

MTN Group has announced the results for the year ended 31 December 2019 and the stepping down of the company's group president and Chief Executive Rob Shuter.

2. ‘SA needs to grow economy in face of virus, downgrade threats’

First National Bank (FNB) chief executive Jacques Celliers said yesterday that the country needed to grow its economy in the face of the threats posed by a possible downgrade by ratings agency Moody’s and Covid-19, which has had a negative impact on global and local markets. 

3. WATCH: Rand trades flat overnight

The South African currency staged a short-lived comeback as the wave of risk aversion receded to lift risk assets yesterday, sheltering the local unit from reflecting the impact of an unexpected escalation in power-shedding according to NKC Research. 

4. COVID-19: Effective employee communication is key to managing epidemic

As the global spread of the Coronavirus (COVID-19) continues to dominate both news and personal discussions, many employers are taking steps to mitigate the spread of the virus within organisations.

5. Vodacom to put R2.7bn back in its users’ hands

Vodacom said yesterday that it would put R2.7 billion back into the hands of consumers after slashing its data prices following an agreement with the Competition Commission. 

6. SA rand rebounds as global selloff slows

South Africa’s rand firmed on Tuesday, recovering most of its losses as emerging markets broadly recovered from heavy selling in the previous session triggered by a dive in oil prices and fears about the economic impact of the coronavirus.

7. High court gives Eskom another chance to hike electricity tariffs

Power utility Eskom has been given a chance to file a new application to hike electricity tariffs significantly, a move that could further deplete the pockets of struggling consumers amid a recession-hit economy.  


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