5 important things happening in South Africa today

 ·17 Apr 2024

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

  • Sasol makes world CO2 emissions blacklist: A recent report from the Carbon Majors database reveals that Sasol is among the 57 companies responsible for 80% of the world’s CO2 emissions from 2016 to 2022, ranking 56th. The database tracks the production data of the largest global producers of oil, gas, coal, and cement. Leading the emissions during this period were Saudi Aramco, Chinese state-owned coal companies (considered as a single entity), Gazprom, Coal India, and the National Iranian Oil Company. [GroundUp]

  • Job cuts looming for Ster-Kinekor: Two years after exiting business rescue, Ster-Kinekor, South Africa’s leading cinema chain, is considering laying off nearly a quarter of its staff and closing up to nine cinemas in Gauteng, KwaZulu-Natal, and Western Cape due to declining attendance. The company, under the management of UK’s Blantyre Capital and Greenpoint Capital, said that it is restructuring in response to economic challenges and its financial state. [Business Day]

  • SAA ordered to destroy Airlink info: Yesterday, the Johannesburg High Court ordered South African Airways (SAA) to stop using and destroy confidential information owned by its competitor, Airlink. This decision followed revelations by The Citizen that Carla da Silva, SAA’s head of sales and marketing who joined in November 2023, allegedly shared Airlink’s sensitive commercial data with her team. [The Citizen]

  • Public protector accuses Mkhwebane of bleeding state coffers: Public Protector Kholeka Gcaleka said in an affidavit filed in the Gauteng High Court that her predecessor, Busisiwe Mkhwebane, left the Public Protector’s office in dire financial straits. An initial budget of R4 million for a Section 194 inquiry ballooned to over R147 million due to legal fees for defending flawed reports. Gcaleka argues that Mkhwebane’s demand for a gratuity of R10 million following her departure is unjustified, given her negative impact on the PPSA’s finances. [News24]

  • Markets: The rand extended its losses on Tuesday amid heightened tensions in the Middle East and dwindling bets that the Federal Reserve would cut interest rates any time soon. On Wednesday (17 April), the rand was trading at R19.03 to the dollar, R23.75 to the pound, and R20.20 to the euro. Oil is trading at $89.51 a barrel. [Reuters]

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