The Covid-19 pandemic is putting South African small and medium enterprises (SMEs) under enormous pressure. 
Photo: African News Agency (ANA) Archives
The Covid-19 pandemic is putting South African small and medium enterprises (SMEs) under enormous pressure. Photo: African News Agency (ANA) Archives

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published May 13, 2020

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

1. SA auto industry welcomes green light for car dealers to re-open

The National Association of Automobile Manufacturers of South Africa (NAAMSA) on Wednesday welcomed the move by trade, industry and competition minister Ebrahim Patel to allow car dealers to resume business which was halted when the country embarked on a lockdown in late March to combat Covid-19.

2. WATCH: Rand rises on softer greenback

The South African rand edged modestly firmer as the greenback stumbled over a sombre inflation report, outweighing lingering fears surrounding a second wave of Covid-19 infections according to NKC Research. 

3. Premier Fishing and Brands profits fall to R20 million due to pandemic

Premier Fishing and Brands, one of the largest black-owned and managed fishing companies, said yesterday that taxed profit fell 63.6percent to R20million in the six months to February 29, mainly due to factors outside its control, such as the impact of Covid-19 on export markets and lower total allowable catches. 

4. Troubled CEF plans to restructure its subsidiaries

The Central Energy Fund  (CEF) plans to restructure its subsidiaries to bring an end to the duplication of services as the depletion of its reserves threatens to bring the state-owned energy company to its knees.

5. Covid-19 threatens food systems raising spectre of malnutrition

Covid-19 is threatening to reverse the gains that have been made against malnutrition across Africa as the pandemic pushes the health and food systems to the limit, a new report has found. 

6. Small Business Institute joins list urging government to allow businesses to reopen

The Small Business Institute (SBI) yesterday joined a growing list of organisations that have urged the government to allow small businesses to reopen.

7. No rejections yet: Nedbank provides debt relief, consolidations for over 75 000 clients

Nedbank revealed on Tuesday that by April 23 the lender had provided relief to more than 75 000 clients, across both personal loans and student loans products, with no rejected requests recorded yet. 

BUSINESS REPORT ONLINE

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