Here’s what is happening in and affecting South Africa today:
- Eskom is reportedly considering tariff hikes, layoffs and asking for debt extensions to combat its current financial troubles. According to people familiar with the talks, about 15,000 workers could be affected – while tariff hikes and recovering unpaid bills could boost revenue by 50%. [Bloomberg]
- Striking Uber drivers have revealed a massive drop in income due to rising petrol costs, and are demanding that the ride-sharing company drop their take from 25% to 15%. Some drivers had experienced a drop in weekly takings from R3,500 to just R500. [TimesLive]
- Despite rainfall hitting Cape Town pushing ‘day zero’ off the map until after 2019, officials have warned that water restrictions will only be reviewed after the rainy season. Analysts have warned that there is a false sense of security around water now that it’s raining, and the Western Cape is just one poor rainy season away from crisis again. [IOL]
- Sassa grants recipients may struggle to draw their funds as the group moves over to a new system – while a strike by its workers looms. Sassa said that beneficiaries will be paid in full, but may have to wait a few days for that to happen. [Mail & Guardian]
- South Africa’s rand firmed on Tuesday, helped by a weaker dollar as investors awaited minutes of the US Federal Reserve’s June meeting and jobs data that should confirm whether policymakers will raise interest rates twice this year. On Wednesday the rand was at R13.63 to the dollar, R18.00 to the pound and R15.91 to the euro.