New threat to South Africa, and Public Works Minister receives death threats

South African assets experienced further declines on Friday as investors expressed concerns about the impact of U.S. President Donald Trump’s sweeping tariffs and the stability of South Africa’s coalition government.

The rand traded at 19.0175 against the dollar, representing a drop of approximately 1.5%.

Last week, the South African currency fell more than 3% against the dollar, suffering even greater losses against other currencies like the euro and the pound.

There are fears that a full-scale trade dispute could provoke a significant global economic slowdown and increase in inflation.

As a result, investors have been moving away from riskier currencies like the rand and seeking refuge in safer assets such as bonds and gold.

On Monday (7 April), the rand was trading at R19.43 to the dollar, R25.04 to the pound and R21.39 to the euro. Oil is trading lower at $69.43 a barrel.

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

New threat: Accenture Africa security lead Boland Lithebe has warned that the increasing use of ‘deepfakes’ presents a significant threat to South Africa and could lead to political unrest, financial fraud, and reputational damage. [MyBroadband]

Death threats: Public Works and Infrastructure Minister Dean Macpherson has received death threats following his investigation into an R800-million tender awarded to three companies to install oxygen infrastructure at hospitals. [eNCA]

Blow to farmers: Farmers who use solar power alongside Eskom electricity should expect increases in their electricity costs greater than the average 12.75% tariff hike approved by Nersa in January, with projections suggesting rises of over 20%. [Business Day]

GNU D-day: Today (7 April), the ANC’s national working committee will be tasked with deciding whether to keep the current composition of the GNU or change it. Some ANC leaders have publicly stated there cannot be ministers and deputy ministers in the GNU that will be tasked with implementing a budget they don’t support. [EWN]

Another Cadre scandal: A company operated by a member of the Johannesburg ANC and a close friend of Gauteng Health MEC Nomantu Nkomo-Ralehoko received a R2.5 million tender from the health department just months after the business was deregistered and quickly resumed trading. The three-year deal was awarded for golf shirts for health department staff. [News24]