Bad news for online shopping imports to South Africa, and no deal yet on budget

The South African rand strengthened on Monday (31 March) following reports that the two largest political parties in the ruling coalition government are close to agreeing to resolve the ongoing impasse regarding the national budget.

The rand traded at 18.38 against the dollar, which is 0.3% stronger than Friday’s closing level after experiencing an earlier increase of more than 1%.

Trading in the rand has been highly volatile as negotiations between the ANC and the DA over the stalled budget have continued for weeks. Concerns over U.S. President Donald Trump’s tariff plans have also contributed to the uncertainty.

On Tuesday (1 April), the rand was trading at R18.28 to the dollar, R23.64 to the pound and R19.79 to the euro. Oil is trading lower at $74.74 a barrel.

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

Bad news for online shopping imports: South African online shoppers and local businesses importing and exporting goods should prepare for longer processing times due to stricter customs procedures. The South African Revenue Service (SARS) plans to eliminate over 140 concessions that facilitate simplified import and export clearance at various customs offices nationwide. [MyBroadband]

No deal: The ANC and DA have made significant progress over the past three days in reaching an agreement on a long list of policy issues. However, there are still disagreements, and it remains uncertain whether they will finalise a deal before the joint finance committees of Parliament meet on Tuesday. [News24]

3,500 jobs saved: The state-owned Industrial Development Corporation (IDC) injects R1.7 billion into ArcelorMittal SA’s (Amsa) long steel business to keep it afloat. Amsa said on Monday that the IDC cash injection would defer the closure of its long steel plants in Newcastle, Vereeniging and Mpumalanga, a move that would have led to 3,500 job losses. [Business Day]

Eskom emissions exemptions: South Africa has allowed eight coal-fired power plants operated by Eskom to exceed emission regulations. This decision aims to help the struggling utility focus on providing reliable electricity. However, it may lead to significant health and environmental issues. [BusinessTech]

100 Afrikaners identified for relocation: According to a New York Times report, the teams deployed by the United States in Pretoria are currently studying more than 8,000 applications to relocate from South Africa to America. The team has so far identified only 100 Afrikaners to consider for relocation. [EWN]