Photo: File
Photo: File

7 things you need to know today

By Dhivana Rajgopaul Time of article published Jan 14, 2021

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

1. Rand struggles to find range on the dollar

The rand recovered some lost ground yesterday appreciating 0.14 percent to R15.25 against the dollar as concerns surrounding an extension of the adjusted level 3 lockdown were offset by optimism over vaccine progress.

2. Cell C migrating 1.1 million contract and broadband customers to Vodacom network

Cell C is in the process of migrating 1.1 million contract and broadband customers to the Vodacom network in line with the first phase of plans to become a significant wholesale buyer of network capacity and infrastructure services.

3. Talks to extend relief payments from UIF to affected workers

Government and business yesterday resumed negotiations about extending relief payments for affected workers from the Unemployment Insurance Fund (UIF) due to economic headwinds of the Covid-19 lockdown restrictions.

4. DHL spends R126m for new warehouse at OR Tambo

DHL Global Forwarding is investing R126.5 million into a new 13 000 square metre facility in Skypark Business Estate near OR Tambo International Airport.

5. Merafe reports lower ferrochrome production

Merafe Resources’ attributable ferrochrome production from the Glencore Merafe Chrome Venture in the fourth quarter and year ended December 31, 2020, fell by about 8 percent and 29 percent, respectively when compared to the quarter and year ended December 31, 2019.

6. Grindrod builds capacity with Swift acquisition

Grindrod subsidiary NovaTech, which trades as Hesper Engineering, a ship repair and general engineering company based in Cape Town, has purchased a 51 percent shareholding in Swift Engineering.

7. Lucapa Diamonds suspends its Lesotho operations

Australia’s Lucapa Diamond Company has announced the suspension of its mining operations at its mine in Lesotho, as the mountain kingdom imposes a two week hard lockdown from midnight to curb the spread of Covid-19.

BUSINESS REPORT ONLINE

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