Business

5 important things happening in South Africa today

Staff Writer

 ·10 Nov 2022

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

• Public strike starts: The Public Servants Association of South Africa (PSA) and its members will go on strike from today (10 November) in all parts of the country, including Johannesburg, Pretoria, Cape Town and Durban. The union has warned South Africans to avoid the Department of Transport and Home Affairs offices, while border control will also be affected. The PSA said, however, that teachers are not expected to join the strike, with schools set to continue operations as usual in light of matric exams. [EWN]

• Alarming Dam safety: Information presented by the Department of Water and Sanitation (DWS) to Parliament shows that of the 20 large dams owned by the department, only two comply with dam safety evaluation requirements. This means that an alarming 90% of South Africa’s largest dams are not compliant with safety evaluation standards even as infrastructure continues to deteriorate, posing serious risks for dam failures, which would have devastating consequences for water supply. [News24]

• Illegal gun crisis: According to NGO Gun Free SA, there are over four million licensed guns in South Africa, and of those, more than 9,000 are reported stolen or missing every year. This has led to an average of 24 guns entering the illegal market and close to 30 murders with firearms per day in the country. [Mail and Gaurdian]

• South African pessimism: According to a new nationally representative poll conducted by the Rivonia Circle, almost 74% of South Africans believe that the country is moving in the wrong direction. Most voters cite unemployment as the most significant issue, while corruption, crime, load-shedding, and the cost of living are other significant issues South Africans want to address. [TimesLive]

• Markets: South Africa’s rand weakened in early trade on Wednesday (9 November) as traders awaited results from the U.S. midterm elections. ETM analytics said the dollar could extend its losses if the Republicans win a majority in the Senate and control more of the House. On Thursday (10 November), the rand was trading at R17.77/$, R17.84/€ and R20.27/£. Brent crude is trading at $92.58 a barrel. [Nasdaq]