CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
Exxaro Resources yesterday said it expected both total coal production excluding buy-ins and sales volumes to increase 5 percent due to the increased Eskom demand at Medupi power station and the ramping up of production at Belfast.
2. Retail bounces back after crashing to a low during hard lockdown
Retail trade in South Africa bounced back in the fourth quarter after crashing to a 29-year low during the hard lockdown in the second quarter as confidence rose in wholesale and motor trade.
3. Cartrack in negotiations with major shareholder
Cartrack Holdings, the fast-growing mobility and telematics solutions group operating in 23 countries, said yesterday it had entered into negotiations and was exploring options with its major shareholder, Karoo Pte, which, if successful, may result in the restructuring of the group.
Alexander Forbes expected its earnings to continue to feel the impacts of the Covid-19 outbreak in the medium term, with top line growth expected to be under pressure for the next 18 to 24 months, it said yesterday.
5. Oceana delivers strong results despite challenges
Oceana Group yesterday said for the year ended September it had declared a dividend of 293 cents, up 22 percent on last year despite Covid-19 challenges.
6. Rand inches firmer overnight, unfazed by stricter lockdown measures
The South African currency traded sideways on Thursday, holding onto the notable gains made on Tuesday according to NKC Research.
7. New service to help African small businesses establish online presence
Website builder BaseKit will partner with Liquid Telecom to provide a website and e-commerce builder to customers of the African telecoms provider.
BUSINESS REPORT ONLINE