Photo: Reuters
Photo: Reuters

7 things you need to know today

By Dhivana Rajgopaul Time of article published Jan 15, 2021

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

1. Moody’s flags SA’s funding as a drag that won’t come down soon

Moody’s yesterday flagged South Africa’s higher funding costs and debt burdens as drags that would not come down in the foreseeable future as revenue generation capacity remained weak.

2. Motor trade in negative territory as vehicle sales continue to slide

Sales in the motor trade industry slipped into negative territory for the ninth month in a row in November, although the contraction was slower than anticipated.

3. Judicial inspectorate for correctional services underspends on staffing

The Judicial Inspectorate for Correctional Services (JICS) has underspent by more than R10 million in its annual budget of R77.2m, the JICS 2019/20 annual report has revealed.

4. Strong support sees AYO shares rocket

The share price of the largest listed black-owned ICT firm, AYO Technology Solutions (AYO), with a net asset value of R5 billion, has rocketed in recent days as the group appeared to attract renewed interest from investors.

5. Rand trades little changed overnight

The South African currency oscillated during yesterday’s trading session on rising bets for a repo rate cut at the upcoming MPC meeting according to NKC Research.

6. More worries for economy as Eskom implements new power cuts

Eskom yesterday put further pressure on the country’s struggling economy, announcing yet another four days of power cuts till Sunday.

7. MTN hails Icasa’s temporary spectrum release

MTN yesterday said the temporary release of high demand spectrum during the national lockdown was a boost to its network performance.

BUSINESS REPORT

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