Mantashe sends a warning to Trump, and trouble for Uber in South Africa

South Africa’s rand was steady in early trading on Friday (7 February) after President Cyril Ramaphosa said his government would launch a second wave of reforms to try to boost economic growth.

The rand traded at 18.4325 against the dollar, not far from its previous close.

On Monday (10 February), the rand strengthened slightly, trading at R18.51 to the dollar, R22.95 to the pound and R19.09 to the euro. Oil is trading lower at $75.16 a barrel.

Here are five other news stories making waves in South Africa today:

Mantashe’s threat: Neal Froneman, CEO of Sibanye-Stillwater, one of the world’s leading precious metals producers, says Gwede Mantashe’s “ill-advised” threat to withhold minerals from the US could trigger a retaliatory response from President Donald Trump. [Business Live]

Uber troubles: After operating in South Africa for over eleven years, Uber is collapsing, with customers reporting problems with driver behaviour, poorly maintained cars, and torpid customer support. [MyBroadband]

15,000 jobs at stake: In a detailed presentation to Parliament’s portfolio committee on health, Motsoaledi revealed that more than 15,000 people, including nurses, pharmacists and directors, were paid with Pepfar aid. [Daily Maverick]

Transnet’s massive finance hole: Transnet will need R14 billion annually for the next five to six years to fix its rail infrastructure that has fallen into disrepair or was vandalised. This is according to Road Freight Association CEO Gavin Kelly, who outlined the challenges facing the state-owned utility. [Daily Investor]

Ramaphosa faces backlash: President Cyril Ramaphosa faces criticism over the SANDF’s deployment in the Democratic Republic of Congo, where 14 soldiers were killed. Congolese politician Dr. Alexis Ruberwa criticized Ramaphosa’s description of the deceased as “African heroes.” [IOL]