Here’s what is happening in and affecting South Africa today:
- The country is gearing up for president Cyril Ramaphosa’s State of the Nation Address on Thursday (13 February), with some disruptions already expected. EFF leader Julius Malema said Ramaphosa has failed to listen to the party’s calls for public enterprises minister Pravin Gordhan to be fired and that they plan to interrupt proceedings as soon as he starts speaking. [EWN]
- SAA’s business rescue practitioners have defended their decision to cancel domestic routes as being in the best interest of the airline. The practitioners said the actions are aimed at improving SAA’s balance sheet which is intended to create a platform for a strong and sustainable airline and so ensure that the company is more attractive for potential strategic equity partners. [Fin24]
- Eskom lifted stage 2 load shedding on Sunday evening as emergency reserves adequately recovered to allow for a reduction in power cuts. However, the power utility said that it plans resume Stage 1 load shedding from 09h00 on Monday, with power cuts likely for the rest of the week. [Eskom]
- The property industry has cautioned that a new bill aimed at standardising the development charges municipalities can levy on property developers and owners could lead to serious abuse. The bill is aimed at ensuring property developers and owners pay for the costs local governments incur to install new infrastructure or upgrade existing infrastructure to service new developments. [BusinessDay]
- The markets will once again focus on China this week and whether the country will slowly return to normal. On Monday the rand was at R15.01 to the dollar, R19.36 to the pound and R16.44 to the euro.