Energy

5 important things happening in South Africa today

Luke Fraser

 ·4 Jul 2023

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

• Future load shedding warning: Electricity Minister Kgosientsho Ramokgopa says South Africa needs to ensure that it upgrades and expands the nation’s electricity grid to avoid another energy crisis in the future. He said that the current system cannot bring on enough new generation capacity from renewable energy sources from the areas best suited for it. He said that the grid capacity in the Northern and Western Cape is nearly exhausted, while there is insufficient capacity in the Eastern Cape to connect the amount of renewable energy that South Africa would need to meet future demand. [Business Day]

• DOJ gets record fine: The Department of Justice and Constitutional Development has been given a R5 million fine for failing to purchase antivirus software. The fine, handed down by the information regulator, is the highest penalty imposed for noncompliance with the Protection of Personal Information Act (Popia). In 2021, the department was hit by a cyberattack after failing to renew its antivirus software, including its intrusion detection license, which would have flagged the attack. [Business Day]

• amaBhungane vs Moti: The Johannesburg High Court has set aside a gag order preventing investigative journalists amaBhungane from reporting on leaked documents from the Moti Group. The group gained the gag order in secret, without submissions from amaBhungane, on the basis that the documents were stolen. The High Court called this an abuse of process while also finding no grounds for the order to be given. [EWN, Daily Maverick]

• DA’s attitude problem: Inkatha Freedom Party (IFP) leader Velenkosini Hlabisa says the multi-party pact can only succeed at next year’s election if the Democratic Alliance changes its “big brother” attitude. Hlabisa said that this attitude saw the DA’s former Johannesburg Mayor, Mpho Phaltase, removed from her role earlier this year. Several opposition parties, including IFP, DA, FF+, and Action SA, are set to hold a National Convention next month to discuss a possible pact ahead of the 2024 election. [SABC News]

• Markets: The rand strengthened on Monday, recovering some losses incurred last week along with other emerging market currencies. Analysts warned that the risk-sensitive rand was susceptible to further weakness in the near term amid hawkish tones by central banks worldwide, including the U.S. Federal Reserve. On Tuesday (4 July), the rand was trading at R18.77/$, R20.46/€, and R23.82/£. Brent crude is trading at $74.96 a barrel. [Nasdaq]