Temu and Shein clampdown uncertainty, and Mandela’s grandson arrested

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

• Temu and Shein clampdown question marks: South Africa’s new e-commerce import tax system remains unclear, with SARS not disclosing key details. Local retailers accuse Shein and Temu of exploiting tax loopholes, while SARS has delayed planned tax hikes. Instead, a 15% VAT and 20% flat duty apply, but without clear thresholds, consumers and retailers remain uncertain about import taxes on international orders. [MyBroadband]

• Mandela’s grandson arrested: A search for a stolen vehicle found at the former residence of anti-apartheid icon Nelson Mandela led to the discovery of various illicit items and resulted in five people being arrested, including 33-year-old Mbuso Mandela. The five were arrested when officers traced the location of a hijacked car to the statesman’s former home in Houghton, Johannesburg. [News24]

• Slow JSE retention start: Only 17% of the companies eligible for listing on the general segment of the JSE’s main board have actually done so. Currently, the market capitalisation of this segment, which was established to simplify the strict listing requirements for smaller firms, stands at just below R20 billion. [Business Day]

• Higher education points the finger at basic education: The Department of Higher Education and Training has blamed the “quality of maths and science pupils” produced by the Department of Basic Education for universities producing 5,065 fewer engineering and science graduates in the past financial year. [News24]

• Markets: The rand weakened to a seven-month low as a buoyant dollar and disappointing domestic economic data releases weighed on the local currency. On Thursday (09 January), the rand was trading at R18.93 to the dollar, R23.31 to the pound, and R19.53 to the euro. Oil is trading at $76.05 a barrel. [Reuters]