5 important things happening in South Africa today
·7 Mar 2024
Here’s what is happening in and affecting South Africa today:
- SAA-Takatso deal being renegotiated: During a press briefing on Wednesday, Public Enterprises Minister Pravin Gordhan revealed that the sale of 51% of South African Airways (SAA) to the Takatso Consortium for R51, which had caused controversy, is currently being renegotiated. Gordhan stated that due to the commercial sensitivity of the information, several documents related to the agreement must be kept confidential. [Moneyweb]
- No signs of eThekwini municipal strike easing: The municipal workers’ strike in eThekwini shows no signs of easing. Workers affiliated with the South African Municipal Workers Union have committed to holding out until their demands are met, demanding pay parity and being brought in line with Ekurhuleni workers. They say eThekwini municipal employees receive the lowest wages in the nation. [eNCA]
- Safair under investigation: Safair, the parent company to South Africa’s low-cost passenger airline, FlySafair, has captured 60% of the domestic air travel market and is making inroads into the region. However, it is currently under investigation for allegedly contravening its licence conditions requiring a majority local shareholding. [News24]
- Police minister has been working from home for the past four years: Police Minister Bheki Cele told parliament he has been working from home for the past four years due to the “terrible” state of the Telkom Towers building, which houses the police headquarters. “We paid more money trying to fix that thing than we paid for buying it,” Cele told Parliament. [GroundUp]
- Markets: – South Africa’s rand strengthened on Wednesday, with analysts pointing to a surge in gold prices as the reason for the currency’s recovery. On Thursday (7 March), the rand was trading at R18.83 to the dollar, R23.98 to the pound, and R20.53 to the euro. Oil is trading at $82.89 a barrel. [Reuters]
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