Government

5 important things happening in South Africa today

Staff Writer

 ·8 Jun 2022

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

• Gas power: Speaking at an energy industry conference, the chief executive officer of Eskom, Andre de Ruyter said that despite gas being a polluting fossil fuel, South Africa’s energy future can not escape it. He added that Eskom will continue to use coal for an extended period even beyond 2035, but gas could provide a secure supply. The executive said that Eskom anticipates investing in between 3,000MW to 6,000MW of gas-fired generation to achieve system stability. [News24]

• Oil reserve tapping: The National Treasury said it is considering selling more strategic oil reserves or making budget adjustments to fund new measures to control rising fuel prices. Speaking to Business Day, the finance minister said that if the department of energy does not spare more strategic oil to be sold, the Treasury will acquire funding from the fiscus through adjustment estimates. This follows the government’s extension of the general fuel levy more than a week ago. [BusinessLive]

• Income for Comair workers: The Metalworks union Numsa said that it will start discussions with the Department of Labour to try to secure an income for workers at airline Comair after management said that it could not secure the payment of salaries at the end of this month. Numsa, Solidarity and the Comair Pilot’s Association have met with the airline’s CEO and business rescue practitioners for an update on the process of securing funding. Union leaders said they would seek legal counsel to hold the company accountable after it stopped operations and grounded both Kulula and British Airways flights. [EWN]

• Zuma prosecution: The National Prosecuting Authority (NPA) has confirmed that the former president Jacob Zuma can pursue a private prosecution against State prosecutor Billy Downer, who leads the prosecution in Zuma’s arms deal case. The NPA said that the charges laid against advocate Downer are baseless and that he will continue to lead the prosecution. The granting of private prosecution to Zuma may be used to stall the arms deal case; however, it is a costly and often unsuccessful procedure. [Daily Maverick]

• Markets: The rand slipped early on Tuesday as an unexpectedly large rate hike in Australia heightened global investor caution. The Reserve Bank of Australia raised interest rates by the most it has in 22 years, stunning global markets ahead of US inflation data. The rand is currently trading at R15.43/$, R16.49/€ and R19.39/£. [Nasdaq]