5 important things happening in South Africa today

Here’s what is happening in and affecting South Africa today:

• Vodacom has sparked anger among its users with new data rules which will reportedly see the group charging as much as R50 for customers to roll over 1GB of data for 7 days. The new charges are part of new data rules that are hitting the country from 1 March. [MyBroadband]

• Testimony before the state capture commission has pointed the finger to former Eskom executives as the next step to finding out the extent of state capture at the state power utility. Several former execs have been implicated, with billions said to have been looted. [ENCA]

• The PIC has been ordered to recover the R4.3 billion it invested into Ayo Technology Solutions, with claims that directors knowingly caused harm to the country’s largest asset manager. [Business Day]

• South Africa’s 5G capabilities are expected to get a huge boost through a push by Helios Towers to build over 1,000 new telecoms towers in the country. The group is also looking to acquire some of the 30,000 towers in SA, which are managed by telco groups like MTN and Vodacom. [Bloomberg]

• South Africa’s rand rose on Monday, holding onto its post-budget gains, after US President Donald Trump extended a deadline for China and the United States to reach a trade agreement. On Tuesday the rand was at R13.84 to the dollar, R18.19 to the pound and R15.73 to the euro.