5 important things happening in South Africa today
·18 Mar 2024
Here’s what is happening in and affecting South Africa today:
- Unbundling of Eskom taking shape: Numerous decisions were announced by energy regulator Nersa over the weekend, including those related to power purchasing agreements, generation licenses, and decisions relating to cost recovery. These indicate a big step forward in the unbundling of Eskom – particularly in the establishment and operationalising of an independent transmission company. [Moneyweb]
- Godongwana slams Nelson Mandela Bay: Political instability in Nelson Mandela Bay is in the spotlight again, with finance minister Enoch Godongwana sending a letter to its mayor slamming him for the city’s R20 billion in irregular expenditure, as well as for suspending the fraud-accused City manager for a second time, instead of taking permanent action. [News24]
- Rand Water warns Gauteng metros of system collapse: Rand Water called an emergency meeting over the weekend with officials from Johannesburg, Ekurhuleni and Tshwane to warn of a potential collapse of water systems. As a result, Tshwane immediately put in place water restrictions while the latest water crisis in Johannesburg, which started on 3 March, extended into its third week as many taps remain dry despite promises of restoration. [Daily Maverick]
- Transnet prepares for private sector participation: Transnet Freight Rail (TFR) is continuing its plans for rail reform, which includes opening up 21,200km of its network for private sector participation. This is expected to begin in April, with the company currently boasting a maintenance backlog of R31 billion and debt of R39 billion. [Business Day]
- Markets: The South African rand firmed at market close on Friday after slumping the day before on a stronger U.S. dollar and mixed local data. On Monday (18 March), the rand was trading at R18.77 to the dollar, R23.87 to the pound, and R20.41 to the euro. Oil is trading at $85.65 a barrel. [Reuters]
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