Photo: File
Photo: File

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published Mar 20, 2020

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

1. Lower rate is good news for homeowners

The property sector yesterday welcomed the SA Reserve Bank (SARB) decision to cut the repo rate by 100 basis points, charging that it would provide relief to consumers and homeowners.

2. MTN slashes data prices, offers data-free access to certain websites

South Africa’s MTN Group today made an announcement on data prices in the country. 

3. Motsepe's ARCI has spent R399m on acquisitions

Patrice Motsepe’s investment holding company, African Rainbow Capital Investment (ARCI), has spent R399 million on acquisitions and investing in businesses that it owns stakes in.

4. Capitec in move to calm bank's clients

Capitec, South Africa’s biggest bank by customer numbers, moved to calm its clients yesterday, saying the business had strong fundamentals after the stock plummeted more than 30 percent in early trade on the JSE before clawing back the losses to close 14.69 percent weaker at R682.50.

5. WATCH: Rand is expected to remain above the R17.00/$ threshold today

The South African rand remained under pressure as the Sarb surprised with larger-than-expected policy easing measures aimed at softening the Covid-19 pandemic landing according to NKC Research. 

6. Coronavirus: ‘1% interest rate cut no magic wand for debt’

Consumers will now have more disposable income after SA Reserve Bank (Sarb) governor Lesetja Kganyago announced a repo rate cut of 100 basis points (1 percent), bringing some relief to the cash-strapped.

7. Ecommerce key to businesses surviving Covid-19

While there is a lot of uncertainty around the economic impact of the novel coronavirus 2019 (Covid-19) outbreak, one thing that is certain is that it will change the way we do business in the long-term. 

BUSINESS REPORT ONLINE

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