5 important things happening in South Africa today
·25 Jan 2024
Here’s what is happening in and affecting South Africa today:
- Mashatile corruption scandal: An investigation by News24 reports that a company linked to Deputy President Paul Mashatile and owned by a popular ANC donor received payments from the Gauteng Department of Human Settlements totalling R134 million for a housing project in 2013, but no houses were built. Between 2014 and 2020, the department paid the company R828.2 million for other projects. [News24]
- ICJ to deliver Order on Friday: On Friday 26 January 2024, the International Court of Justice (ICJ) will deliver its order in the case filed by South Africa accusing Israel of genocide during its war in Gaza. The announcement will indicate whether the court will order emergency measures against Israel. [ICJ]
- Saudi Arabia ready for SA meat industry: The Kingdom of Saudi Arabia will add to its R37.6 billion meat market by importing South African beef and lamb products as part of an investment push into the continent’s most developed economy. After lifting a 20-year prohibition on South African meat imports in August, the final approvals to start shipments of large quantities of halaal cuts to the Middle Eastern nation are now in place. [Daily Investor]
- Gauteng road deaths are fine: Gauteng Transport MEC Kedibone Diale-Tlabela says the number of road fatalities recorded in Gauteng over the 2023 festive period should not raise any alarm considering the size of the population. This comes despite a 7.6% increase from the 2022 festive period, while the whole of the nation saw a nearly 1% decrease. [EWN]
- Markets: The rand strengthened after inflation fell for the second consecutive month in December, ahead of an interest rate decision by the central bank later today. On Thursday (25 January), the rand was trading at R18.91 to the dollar, R24.09 to the pound, and R20.53 to the euro. Oil is trading at $80.30 a barrel. [Nasdaq]
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