7 things you need to know today
CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
The coronavirus has impacted agriculture and food production around the world. It is also exposing South Africa to an accelerated food-security threat,which requires action now from multiple players, from government to all involved in the food supply chain.
The rand slipped as markets digested the supplementary budget while dollar strength weighed according to NKC Research.
African Bank Holdings (ABH) suffered a R853 million hit to its profits as a result of the Covid-19 outbreak in the six months to the end of March.
Discount supermarket brand Boxer Superstores, a subsidiary of Pick n Pay, has opened its 300th store as it continues to expand, despite the tough economic climate, which has been exacerbated by Covid-19 disruption.
Salaries paid out in May fell significantly by 7.2 percent, reflecting the downturn in the number of people employed as well as financial pressure among low income earners from the Covid-19 lockdown.
Finance Minister Tito Mboweni on Wednesday projected total consolidated budget spending, including debt service costs, to exceed R2 trillion for the first time.
Mobile operator MTN Group will launch its 5G commercial network in South Africa next week, joining Vodacom Group and Rain in the race to expand 5th Generation technology in the country.
BUSINESS REPORT ONLINE