5 important things happening in South Africa today
·16 Jan 2019
Here’s what is happening in and affecting South Africa today:
- Bankrupt SAA has hired yet another high-profile executive as it tries to reverse its losses and salvage the company. The group has appointed former prosecutions boss Vusi Pikoli as its chief risk and compliance officer. He will report directly to CEO Vuyani Jarana from 1 February. [Business Day]
- Despite the ANC’s bid to push public pension funds to invest in SOEs as a way to resolve finance issues, the funds have drawn a line in the sand, saying they will oppose and fight back against any attempt to force them to plough cash into failing SOEs. [ENCA]
- The Gautrain is in trouble, with the rail service needing R1.5 billion to keep operating this year, amid a 3.5% drop in commuters using the service. It was revealed this week that taxpayers have been forking over R100 million a month in subsidies for the system, while shareholders take in the profits. [Citizen]
- Multichoice and the SABC are preparing their responses to proposed regulations that will tackle DStv’s monopoly on sports broadcasting in South Africa. The regulations want to make certain sports broadcasts available to free-to-air broadcasters. The regulations are currently going through the public comment process. [Sports24]
- The South African rand fell on Tuesday, after worse-than-expected mining data pointed to lingering weakness in Africa’s most industrialised economy. On Wednesday the rand was trading at R13.75 to the dollar, R17.68 to the pound and R15.69 to the euro.
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