Photo: File
Photo: File

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published May 14, 2020

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

1. South Africa prepares to gradually reopen hobbled economy

South Africa’s government announced plans to further ease a nationwide lockdown as the fallout from shuttering much of the economy threatens to outweigh the damage wrought by the coronavirus.

2. Emergency Budget relief for economy

Finance Minister Tito Mboweni has given government departments until next Friday to submit the initial proposals for expenditure adjustments as he prepares to table an emergency Budget next month to reignite the economy.

3. Spur seeks credit facilities for an uncertain future

Restaurant franchisor Spur Corporation is engaging with financial institutions to secure credit facilities should the lockdown period extend beyond the current year as it saw a 46.7 percent decline in restaurant sales for March compared to the corresponding period in 2019.

4. Shoprite Checkers to halt enforcing exclusive leases

Shoprite Checkers on Wednesday agreed to and order by the Competition Commission to no longer enforce the exclusivity clauses contained in various lease agreements against SMEs and specialist line stores with immediate effect.

5. Yoco launches the Small Business Recovery Monitor

Yoco, distributor of point-of-sale devices to more than 80 000 merchants, will launch the Yoco Small Business Recovery Monitor today, which as far as is known, is the only live, publicly available, small business transaction data resource.

6. CFOs are optimistic they can keep their customers and employees safe

As work sites slowly start to reopen, CFOs are optimistic they can keep their customers and employees safe, according to a PwC survey. 

7. SA should open the economy more widely with stringent health regulations

South Africa should immediately open up the economy more widely with stringent health regulations in place, experts said yesterday, after the government expanded services and products to be sold during Level 4 of the national lockdown.

BUSINESS REPORT ONLINE

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