Expropriation battle ahead, and SA airports in trouble

Here’s what is happening and affecting South Africa today:
Expropriation battle ahead: President Cyril Ramaphosa has signed the controversial Expropriation Bill into law, giving a path for the government to expropriate land in the country with zero compensation. While the laws say this is can only happen in the public interest, critics and opponents are already gearing up for legal challenges. The laws are the third major ‘red line’ issue for the ANC’s GNU partner, the DA, and the party said it is consulting its legal team about the path forward. [BusinessLive]
Airports crisis: South Africa is facing mounting issues at its airports, with a fuel crisis and other technical issues stunting travel. Warnings of jet fuel shortages at large have been sounding since December, and local airports are becoming reliant on imports. Meanwhile a power outage at Cape Town International Airport this week caused further disruptions, with calls for further investment into better infrastructure to avoid this in the future. [Daily Maverick]
Towns collapsing: BusinessTech’s new series exploring the state of key towns in South Africa has shown that another important industrial town in the country, Lichtenburg, is collapsing amid infrastructure and service delivery failures. Residents have been crying out for help resolving the issues, but a turnaround seems out of reach. This echoes similar happenings in towns like Rustenburg and Zeerust. [BusinessTech]
University shutdown threats: Student bodies are threatening to shut down universities amid a host of demands over fees, NSFAS funding and allowances, and student housing in the new year. Political parties are also jumping on board to support disruptions should they occur. The Department of Higher Education has insisted that there will be no shutdown and that if anything happens, it will be a few protests. [News24]
Markets: The rand continued to edge stronger against the dollar this week, moving under the R18.50 levels seen since US President Donald Trump’s inauguration. Market tensions have eased slightly as the US has not taken direct action on tariffs; however, the threat of changes down the line is still possible. Locally, CPI undershot expectations, mining production was down, and retail sales were up. The market saw some jitters over the new expropriation laws. On Friday, the rand is trading at R18.41/USD, R22.81/GBP and R19.24/EUR. Oil is trading under $78 a barrel.