5 important things happening in South Africa today
·6 Jul 2018
Here’s what is happening in and affecting South Africa today:
- Discovery, Netcare and Mediclinic are planning to make submissions to the Competition Commission after they were singled out as being too dominant in SA’s private healthcare market. Discovery’s profits were brought into question when medical aid schemes were not supposed to be for-profit ventures. The group said it just runs its business really well. [Bloomberg]
- Eskom and its workers are back at the negotiation table to iron out wage hikes for 2018 and the next few years. Government recently increased its offer to 6.2%, and 6% for subsequent years, while unions were demanding 9%. Unions are expected to give feedback on government’s offer. [eNCA]
- Finance minister Nhlanhla Nene has been called on by business leaders to investigate the illicit cigarette industry in South Africa, which may account for a sizeable chunk of SARS R50 billion shortfall. Research has shown that illicit cigarette sales are costing South Africa R7 billion a year. [EWN]
- Traditional leaders have weighed in on the land debate and have warned government to keep its hands off of ‘their’ land. King and queens have warned government to exclude land control by local chiefs from its plan to redistribute land to black South Africans. [Reuters]
- South Africa’s rand rallied to its firmest in one week on Thursday, taking advantage of a slip in the dollar to push past key technical level as investors took profits on the greenback’s recent gains. On Friday the currency was trading at R13.53 to the dollar, R17.90 to the pound and R15.83 to the euro.
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