5 important things happening in South Africa today
·3 Jul 2018
Here’s what is happening in and affecting South Africa today:
- Suspended SARS head Tom Moyane has been left battered after a judge denied every request he made in a bid to halt the inquiry into his conduct at the revenue service. Judge Robert Nugent dismissed Moyane’s application to have the process postponed until after his disciplinary hearing, in a scathing ruling. [702]
- Petrol will be increasing by 26 cents and 23 cents (for 95 and 93 octane, respectively) this evening, taking the price to record highs. Economists have warned that the hike will have knock on effects, and will ultimately hit economic growth as households have less money to spend. [News24]
- SARS is rolling back on some policy changes and will reconfigure some of its units to take on the illicit economy, targeting illegal cigarette, abalone, gold and other trade. This will mean the service will have to bring back special units that were taken offline by suspended head Tom Moyane. [IOL]
- The ANC is demanding that its political adverts get more screen time by the SABC, because the party enjoys wider support. The party said coverage should be proportional to percentage of the vote it achieved. The ANC got 62% of the vote in the previous national elections. [Mail & Guardian]
- South Africa’s rand weakened on Monday after the dollar rose as investors ramped up bets that escalating trade tensions between the US and its trade partners will hurt the world’s biggest economy the least for now. On Tuesday the rand was trading at R13.86 to the dollar, R18.22 to the pound and R16.13 to the euro.
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