How much the average Eskom employee earns, and new US trade deal a step closer to reality
The rand weakened on Tuesday following the release of mixed economic data from various sources, including the central bank, the revenue service agency, the National Treasury, and the statistics agency.
The rand was trading at 17.29 against the dollar, approximately 0.2% lower than its closing level on Monday.
Data from the South African Reserve Bank indicated that M3 money supply growth in August was at 6.18%, down from 6.75% in July.
Credit growth for the same month recorded at 5.86% slightly surpassed July’s figure of 5.84% and was above the 5.20% forecast in a Reuters poll.
Additionally, the SARB’s quarterly bulletin revealed that the country experienced foreign direct investment outflows of R73.5 billion in the second quarter of 2025, in contrast to inflows of R11.7 billion during the first quarter.
On Wednesday, 1 October, the rand was trading at R17.25 to the dollar, R23.22 to the pound and R20.28 to the Euro. Oil was trading slightly lower at $67.02 a barrel.
Here are five important things happening in and affecting South Africa today:
How much the average Eskom employee earns: Eskom’s financial statements for the year ending 31 March 2024 reveal that the average employee costs R870,000 annually, significantly above the norm for other South African companies. The headcount reached 40,625, resulting in direct employment costs of R35.355 billion, or approximately R870,277 per employee. [Newsday]
New US trade deal a step closer to reality: South Africa and the US are set to finalise a revised trade deal in October, with only a few Agoa-related issues remaining, according to government officials. Trade Minister Parks Tau provided this update during a recent closed-door cabinet meeting, discussing the progress made from high-level trade talks held last week. [Business Day]
Official petrol price for October: The Department of Petroleum and Mineral Resources has published the official fuel price adjustments that will take effect on Wednesday, 1 October 2025. This resulted in an 8 to 10 cents per litre cut for diesel and a small 1 to 8 cents per litre hike for petrol prices. [BusinessTech]
Eskom halts legal action against private power trading licences: Eskom has temporarily halted its legal challenge against the National Energy Regulator of South Africa’s (Nersa’s) awarding of electricity trading licences to private companies. [MyBroadband]
Former South African police minister dies: South Africa’s ambassador to France has been found dead at the foot of the Hyatt Hotel, a high-rise tower in Porte Maillot in the west of Paris. [BusinessTech]
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