5 things you need to know in South Africa today
·28 Jul 2016
Here’s what is happening in and affecting South Africa today:
- Political candidates fear for their lives in the lead up to the 2016 elections, following the fatal shooting of an ANC candidate in the Eastern Cape. Meanwhile, the SAPS has said it will ramp up activity on elections day, with 100,000 police officers being dispatched to voting stations across the country.
- Contingency plans have been put in place to avoid fuel crises during an expected petrol worker strike. An expected 15,000 workers in the petroleum industry are to take to the streets to strike for a 9% wage increase. Sasol said it has put contingency plans in place to protect customers and employees, while it monitors the situation.
- South Africa’s rand traded slightly firmer against the dollar on Wednesday as investors speculated that the Federal Reserve would signal low rates for longer in the United States, boosting demand for high-yielding emerging markets. On Thursday the rand was at R14.22 to the dollar, R18.76 to the pound and R15.77 to the euro.
- In global news: Asian stocks were mostly lower on Thursday as Chinese equities deepened their losses, souring risk sentiment that had improved earlier after the Federal Reserve provided a positive assessment of the U.S. economy.
- Oil prices recovered slightly from April lows in early trading on Thursday, but the outlook for the industry remained weak as crude producers and fuel refiners continue to pump out more than the market can consume. Brent crude futures were trading at $43.61, up 14 cents. U.S. crude CLc1 was at $42.06, up 14 cents.
In other news: A man has come forward and claimed the R87 million jackpot that was won in the latest Powerball draw. The winnings went to a man from Limpopo, who purchased the golden ticket for R20 at a filling station in Mokopane.
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