Business

5 important things happening in South Africa today

Staff Writer

 ·28 Oct 2019

Here’s what is happening in and affecting South Africa today:

• Eskom has agreed to a landmark deal with businesses in a Free State town that will see the two parties effectively bypass the municipality as a middle-man. The Harrismith Business Forum signed a contract with Eskom on Friday whereby the power utility will deliver power directly to the town’s 100 biggest power users – setting a precedent for other towns across the country.. [Rapport]

• The City of Cape Town will fight the new Administrative Adjudication of Road Traffic Offences (Aarto) Act and its incoming demerit system. Member of the mayoral committee for safety and security, JP Smith,  says the two Aarto pilot projects in Johannesburg and Tshwane failed to reduce road fatalities and destroyed municipal revenue from law enforcement. [Moneyweb]

• Government is looking to change its existing marriage laws to recognise a wider range of relationships. Home Affairs minister Aaron Motsoaledi says that none of the three (policies) recognise Muslim, Hindu or Jewish marriages or the marriages in traditional royal families. [IOL]

• The EFF is set to see a major leadership shake-up at its elective conference scheduled for 13 December. While leader Julius Malema and his deputy Floyd Shivambu are likely to keep their places, the rest of the party’s top six is expected to be replaced. [City Press]

• The rand traded stronger on Friday as tensions between the US and China seem to be closer to signing a trade deal next month, while the UK appears to have secured an extension to the Brexit deadline from the EU. On Monday, the rand was at R14.62 to the dollar, R18.74 to the pound and R16.21 to the euro.