7 things you need to know today
CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
South Africa’s agriculture economy rebounded in the first quarter of 2020 by 27.8 percent quarter on quarter on a seasonally adjusted and annualised basis after experiencing four consecutive quarters of contraction due to droughts, foot-and-mouth diseases among other factors.
The South African rand dipped in cautious trade ahead of a busy economic calendar this week, which kicked off with the Q1 GDP release according to NKC Research.
The economy has sunk deeper into recession after gross domestic product (GDP) contracted by 2 percent in the first quarter, which was better than expected, but economists’ forecasts are bleak, as economic activity has collapsed under the national Covid-19 lockdown.
All talk in the market of a retail property apocalypse, which had been made worse by the Covid-19 pandemic, was misplaced, Vukile Property Fund chief executive Laurence Rapp said on Tuesday.
Black-owned infrastructure investor and asset manager Thirdway Investment Partners, in association with Maia Capital Partners on Tuesday announced the launch of a R3 billion impact investing fund – the Maia Debt Impact Fund I – as one of the post-Covid-19 economy reset measures to build an inclusive and resilient economy.
The market expected the economy to shrink by 3.8 percent over the first quarter so the -2 percent print for Q1 2020 GDP (quarter on quarter, seasonally adjusted and annualised) might be slightly better than anticipated, but it almost means nothing.
Prosus yesterday reported double-digit growth in revenue for the year to the end of March on strong performance from its food delivery segment.
BUSINESS REPORT ONLINE