Feeds

Y2K bug eats into South African economy

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

  • alert
  • submit to reddit

High performance access to file storage

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'. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.