Police watching TikTok to fight crime, and South Africa’s R50 billion disappointment

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

• Climate billions disappointment: The first significant development since the $8.5-billion deal was signed is that the quantum has grown substantially and now sits at just $13.8 billion (R250 billion). However, only about $2.8 billion (~R50 billion) has moved or been committed to specific projects three years later. This includes about $200 million of the $820 million or so of grant money and $2.4 billion in concessional loans—less than a quarter of the funds in total. [News24]

• TikTok police: The South African Police Service (SAPS) has a team dedicated to monitoring social media platforms like TikTok, Instagram, WhatsApp, Facebook, and X (formerly Twitter) to spot criminal activity in the country. [MyBroadband]

• Taxpayers footing the bill for ICJ: International Relations Minister Ronald Lamola reiterated that taxpayers were paying for the case lodged in the International Court of Justice (ICJ) and not any other foreign funder. The government’s latest budget documents indicate an allocation of more than R57 million for the ICJ case. [EWN]

• Good news for employment: South Africa’s official unemployment rate has reached 32.1% for the third quarter of 2024—improving by 1.4 percentage points over the previous quarter. [BusinessTech]

• Markets: South Africa’s rand hit a three-month low on Tuesday, hurt by a stronger dollar and weaker gold prices, as markets grappled with what another Donald Trump presidency will mean for U.S. policy and trade relations. On Wednesday (13 November), the rand was trading at R17.96 to the dollar, R23.05 to the pound, and R19.11 to the euro. Oil is trading at $71.76 a barrel. [Reuters]