Business

5 important things happening in South Africa today

Staff Writer

 ·3 Feb 2020

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

• Dutch foreign affairs minister Stef Blok has asked for clarity on South Africa’s contentious land expropriation bill and the impact it could have on the economy. “Like the SA government, we attach great value to the respect for property rights and the rule of law. When these two are endangered, it will affect existing and potential investors alike. It is important to have clarity on issues like these,” he said. [BusinessDay]

• Eskom has extended load shedding until Thursday (6 February) as it replenishes diesel supplies for its open-cycle gas turbines. The power utility said that it will try to avoid load shedding between 06h00 – 09h00 to minimise the impact the power cuts will have on traffic. [Eskom]

• The DA has called for a national debate on the Wuhan coronavirus and other pandemics. The party said that it is concerned that South Africa’s emergency protocols may not be enough to prevent the virus from entering its borders and that stricter measures need to be put in place at all our ports of entry. [DA]

• Tshwane mayor Stevens Mokgalapa said he will resign this month to end political wrangling over his continued presence in office. Stevens Mokgalapa has faced pressure to quit since a leaked audiotape indicated that he allegedly disparaged officials in a conversation with a mayoral council member and engaged in a sexual act with her in the municipality’s offices. [Bloomberg]

• The rand has continued its slide with the weakness attributed to the continued selloff of emerging market assets as panic surrounding the coronavirus continues to grip markets. On Monday the rand was at R14.99 to the dollar, R19.74 to the pound and R16.61 to the euro.