7 things you need to know today, Newsline

Compiled by Dhivana Rajgopaul

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

1. South African Treasury seeks conditions on SAA loan guarantees

South Africa’s National Treasury wants strict conditions attached to any guarantees it provides for loans to the country’s embattled state airline, according to two people familiar with the matter.

2. Jan Oberholzer cleared in R42m pay dispute

Eskom’s chief operations officer, Jan Oberholzer, has been cleared of wrongdoing in a R42million payment dispute with Aveng over a Majuba Power Station rail project.

3. Telecom regulator should look into lowering price of 5G at auction

World Wide Worx said on Friday that the telecommunications regulator should look into lowering the price of the 5G frequency spectrum auction so that South Africa could enjoy the best quality internet services.

4. Rand gives way to rising greenback

The South African currency slumped during afternoon trade to pare early session gains as a resurgence in Covid-19 infections saw investors shed risk assets according to NKC Research.

5. Mauritius opens up for business, investment opportunity

A prominent Cape Town-based entrepreneur and businessperson, Chris Engelbrecht, the managing director of Supertech Yachts, Super Syrups and various other companies, and also the chairperson of Asasi, spotted a unique opportunity for investors interested in broadening investment portfolios in Mauritius.

6. SAA Technical withdraws services to parent company over non-payment

South African Airways’ maintenance subsidiary has withdrawn services to its parent after the struggling airline failed to pay money owed to the unit, an SAA spokesman said on Saturday.

7. Omnia turns tide amid virus storm, set to expand

Omnia Holdings is emerging from the coronavirus pandemic on top after the agricultural and chemicals enterprise flipped from big financial losses and surging debt to better liquidity and with expansion plans on the horizon.

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