5 important things happening in South Africa today

Here’s what is happening in and affecting South Africa today:

• Banks ‘willing’ to give SAA 2.0 a R1 billion facility: John Lamola, SAA’s interim CEO, highlighted that while SAA could operate with 20 aircrafts without an equity partner, expanding to 30-35 aircraft would require a strategic partner. The airline’s strategy focuses on operational breakeven, influenced by the fleet plan from 2022 to 2029, which has been revised after the Takatso deal’s collapse. Despite challenges like skills shortages, SAA is exploring routes with an emphasis on self-sustainability and capitalising on property assets to bolster finances, with banks resultingly allegedly “willing to give us a R1 billion facility.” [Daily Maverick]

• Pick n Pay sues EFF: Pick n Pay is suing the EFF for R300,000, alleging disruptions and threats at a Westonaria store after a party member’s dismissal. The incident leading to the lawsuit occurred on 12 January. The court papers filed by the retail giant read: “Despite the EFF being aware of the interdicting court order, they still attended the premises and proceeded to unlawfully blockade and obstruct the entrance of the premises, incite the employees and interfere with the business of Pick n Pay.” [City Press]

• Man sentenced after pocketing R120 000 as fake Eskom contractor: A man accused of illegally connecting electricity for Mthatha residents by tampering with Eskom infrastructure received a conditional five-year suspended prison sentence. Additionally, Inkitha Royal Empire Construction, where he was a consultant, was fined R10,000. The man’s activities from January to April 2016 cost Eskom R231,000, although he earned R120,000 by falsely claiming to be an Eskom contractor. [News24]

• Didiza and agriculture department officials found in contempt of court: The Cape High Court found Thoko Didiza, Speaker of the National Assembly and former agriculture minister, and agriculture officials in contempt for not adhering to a court order regarding the restoration of a Beaufort West farm to its original land restitution beneficiaries. The case involves three Nuveld farmers, children of farmworkers, whose successful wool farming co-op was jeopardised by the government relocating other families onto their land despite the farmers being rightful beneficiaries of a 2009 land reform program. [Daily Maverick]

• Markets: The South African rand fell sharply on Thursday after media reports of a major disagreement between the Democratic Alliance (DA) party and President Cyril Ramaphosa over cabinet posts. On Friday (28 June), the rand was trading at R18.49 to the dollar, R23.20 to the pound, and R19.42 to the euro. Oil is trading at $86.85 a barrel. [Reuters]