Photo: Leon Nicholas/African News Agency (ANA)
Photo: Leon Nicholas/African News Agency (ANA)

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published May 4, 2020

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

1. Revenue shortfall justifies seeking loans from IMF, World Bank’

The government said the expected rise in revenue shortfall this year justified going to international financial markets for loans in order to mitigate the impact of the coronavirus pandemic on the economy.

2. WATCH: Rand loses most of its recent gains

The rand lost most of its recent gains as a result of last week’s rebalance of the World Government Bond Index (WGBI) according to Bianca Botes, Executive Director at Peregrine Treasury Solutions.

3. State mulls plans to create a ‘new’ airline

A plan to discontinue South African Airways (SAA) took shape this weekend after the government confirmed that it was developing a business case to create a “new” national carrier. 

4. Covid-19 will continue to hit SA property sales

The coronavirus  (Covid-19) pandemic is likely to hit property sales in South Africa as earnings potentials continue to take a knock despite online searches through the lockdown. 

5. SAA could shed staff from May 12, say rescue specialists

South African Airways could start shedding its 5 000 staff from May 12 if unions and workers do not accept a proposed severance deal, administrators trying to rescue the airline said on Sunday.

6. Bidvest Group sets aside R400m towards employee relief initiatives

The Bidvest Group has set aside R400 million towards employee relief initiatives as a result of the coronavirus (Covid-19) pandemic. 

7. SA podcast will allow startups to deliver one minute pitches to listeners

Disrupt Africa has launched Disrupt Podcast, offering listeners a fortnightly wrap-up of all the developments in the African tech startup ecosystem.


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