Business

5 important things happening in South Africa today

Staff Writer

 ·28 Aug 2018

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

• South Africa’s fuel levy could be a thing of history in the next decade, according to an expert, who believes that it could be replaced by a kilometre-based road user charge system using an on-board GPS. The advent of electric vehicles would necessitate a move away from levies attached to the fuel price. [Business Report]

• Multichoice is expected announce the replacement for Afro Worldview (formerly Gupta-run ANN7) today. The winning bidder is a black-owned news channel. Afro Worldview’s contract with Multichoice ended on 20 August, with the media group opting to not renew. [eNCA]

• The DA and EFF coalition has unraveled, with Nelson Mandela Bay mayor Athol Trollip being ousted on Monday – and DA mayor of Tshwane, Solly Msimanga, next in line. The DA managed to take over key metros in 2016 thanks to a shaky coalition with the EFF. [IOL]

• Testimony from former ANC MP Vytjie Mentor to the state capture commission has revealed that the Guptas were purportedly lined up to be the main supplier for South Africa’s shelved nuclear energy programme, which would have scored the family billions. It was announced on Monday that the nuclear plans are now on ice. [Daily Maverick]

• South Africa’s rand firmed by 1% against to the dollar after the greenback weakened for a second straight session, while stocks firmed across the board tracking the stronger rand. On Tuesday, the rand was trading at R14.22 to the dollar, R18.29 to the pound and R16.59 to the dollar.