SARS already scoring millions from two-pot, and strike warning for the Western Cape

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

• SARS already scores millions from two-pot: By Tuesday, the South African Revenue Service (SARS) said it had processed 2,424 tax directives, resulting in R6.7 million in tax revenue. This came from R103 million in requested retirement fund withdrawals since the launch of the two-pot on 1 September. Despite preparation and consumer education, pension fund administrator websites struggled with high call volumes. [Daily Maverick]

• Unions send warning to Western Cape education department: Teacher unions have warned the Western Cape education department to halt plans to cut over 2,400 teaching positions or face strike action. The SA Democratic Teachers Union (Sadtu) and the National Professional Teachers’ Organisation of South Africa (Naptosa) have filed formal disputes with the Education Labour Relations Council in response to the proposed cuts, which are due to a R3.8 billion budget shortfall. [News24]

• Shoprite plans to double Usave stores: Shoprite Holdings plans to more than double its Usave stores, aiming to add about 540 new locations within five years. Currently, Usave operates 463 stores in townships and rural areas, and CEO Pieter Engelbrecht believes there is potential for up to 1,000 Usave stores in South Africa. The expansion targets areas where Shoprite cannot own land, such as those governed by tribal authorities or with limited infrastructure. [Business Day] 

• Limpopo’s seven-year stadium dream: Construction of the Waterval sports stadium in Limpopo, which began seven years ago, remains incomplete despite spending at least R28 million. Originally intended as an eight-month project starting in 2017, the stadium has faced continuous delays. Local residents are frustrated with the municipality’s repeated promises and excuses. [GroundUp]

• Markets: The rand weakened on Tuesday after data showed the country’s second-quarter economic growth was slightly weaker than expected. On Wednesday (4 September), the rand was trading at R17.98 to the dollar, R23.53 to the pound, and R19.88 to the euro. Oil is trading at $73.35 a barrel. [Reuters]