Photograph; Phando Jikelo/African News Agency(ANA)
Photograph; Phando Jikelo/African News Agency(ANA)

7 things you need to know today

By Staff Reporter Time of article published Oct 26, 2020

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

1. KZN food security in state of disaster – Zikalala

KwaZulu-Natal (KZN), the main provider of South Africa’s agricultural produce, is on the brink of a severe food crisis due to a drought that has ravaged the region in the past five years as well as Covid-19 disruption, KZN Premier Sihle Zikalala warned on Friday.

2. Covid-19: Mining companies urged to offer community testing

Bench Marks Foundation, the faith-based organisation which monitors corporate performance in the field of corporate social responsibility, has called on mining companies to open their health facilities to enable Covid-19 testing for mining communities.

3. Rand trades slightly weaker overnight

The rand oscillated during Friday’s European session, remaining at the mercy of external sentiment according to NKC Research.

4. Balancing debt against cost of boosting economy tightrope act

Finance Minister Tito Mboweni will have his work cut out in trying to reduce the country’s runaway debt amid growing expenditure meant to resuscitate the economy after the impact of Covid-19.

5. Logistics sector in Poland is proving to be a Covid-19 silver lining for Redefine

Poland-based European Logistics Investment (ELI), which is 46.5 percent owned by Redefine Properties, plans to increase the size of its logistics portfolio in Poland more than three times over five to seven years due to strong demand being generated by e-commerce.

6. Irregular spending goes off the rails

Transnet on Friday reported that it had incurred irregular expenditure of R9.965 billion in the 2019/20 financial year as the legacy of non-compliant procurement continues to have a lingering effect on the business.

7. Minister Mboweni in tight spot over MTBPS

Finance Minister Tito Mboweni is riding the storm with political parties calling on him to stick to his guns and cut spending in the wake of the impact caused by Covid-19.

BUSINESS REPORT ONLINE

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