Feeds

Y2K bug eats into South African economy

Damning report claims 80 per cent of country's transportation could fail

  • alert
  • submit to reddit

Internet Security Threat Report 2014

South Africa's lack of preparedness for the date change at the end of the year is starting to show. Cargill, the agricultural trading group, has said it will avoid trading in the country over the mid December to mid January period. The move has angered South African officials. The technology manager at the South African Reserve Bank commented in the Financial Times: "It's an insult to South Africa as a whole that we have been placed through some obscure method of assessment on a risk basis." He was referring to report from analysts Gartner Group that suggested that in a worst case scenario, up to 80 per cent of South Africa's transport systems and services could be disrupted. Mike Davies, the MD of Cargill, said that his company would be playing it safe. "We plan to avoid entering into or executing trades in any commodity in the period. Where we are a key supplier, we will build stock positions with our customers to provide them with sufficient material to operate until the end of January. We are trying to be sensible and conservative, but not alarmist." However, could this sort of action be too little too late? Or, too early. According to some industry experts, the real problems from the bug will not surface on the eve of the new century. The real test will be in the few weeks and months after the changeover, as corrupted data starts to make its presence felt. The National Year 2000 Decision Support Centre described Cargill's move as a 'bit of an over reaction'. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.