Electricity price relief coming, and big changes to Gautrain ticket prices

The rand remained stable for most of the trading session on Tuesday, 6 May, following the release of a purchasing managers’ index (PMI) survey.

The survey indicated signs of stabilisation in the country’s private sector for April. The rand was trading at 18.25 against the dollar, showing little change from Monday’s close. 

On Monday, the rand appreciated by approximately 1% against a weaker dollar after Eskom, the utility company, expressed optimism about the power outlook for the next four months, aiming to avoid any electricity cuts. 

The dollar was last reported about 0.4% weaker against a basket of currencies, as investors expressed concerns over U.S. President Donald Trump’s recent tariff threats.

On Wednesday, 7 May, the rand was trading at R18.23 to the dollar, R24.33 to the pound and R20.68 to the euro. Oil was trading slightly lower at $62.73 a barrel.

Here are five other important things happening in and affecting South Africa today:

Electricity price relief: Electricity and Energy Minister Kgosientsho Ramokgopa says that Nersa is looking to revise regulations that will further enable third-party electricity wheeling, increase competition in the energy sector, and lower pricing. “South Africans can expect electricity prices to drop if the system is designed optimally,” said Ramokgopa. [MyBroadband]

Gautrain tickets: Gautrain has announced that it will provide affordable tickets for low-income commuters, including students, pensioners and Sassa disability grant beneficiaries. The company said a new product called KlevaMova will offer a 50% discount on tickets with weekly, monthly, and return trip options. [News24]

SAA hack: South African Airways (SAA) is investigating a cyber incident that disrupted access to its website, mobile app, and some internal systems. SAA has reported the incident to the State Security Agency and the South African Police Service, and has informed the Information Regulator of South Africa as a precaution under the Protection of Personal Information Act. [BusinessTech]

South Africa’s growth hit: Moody’s Ratings has lowered South Africa’s real GDP growth forecast for 2025 to 1.5%, a 0.2 percentage point reduction from February. While Moody’s is more optimistic than the IMF’s recent assessment, it is less optimistic than South Africa’s National Treasury projections. [Business Day]

FlySafair R11 ticket sale: FlySafair has announced that it will bring back its birthday sale today (7 May), with tickets selling for just R11. The sale will start at 09h00 and end at 23h59, and the airline will sell 50,000 seats across its domestic flight network. [BusinessTech]