Business

5 important things happening in South Africa today

Staff Writer

 ·3 Dec 2018

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

• After a full weekend of stage 2 load shedding, Eskom has warned that things have not improved entering the new week, with stage 2 load shedding again expected to be in effect from 09h00 to 22h00 on Monday. The power utility has several units out of service due to breakdowns. [Eskom]

• Traffic on Gauteng’s roads are just going to get worse, says Sanral, with R130 billion of new tolling projects put on ice because they can’t be funded. Sanral was expected to pull in billions from e-tolling in the province, but has failed to get motorists on board. [EWN]

• South Africa may be out of recession, with the latest indicators pointing to a modest recovery in the third quarter. There have been recoveries in the trade and manufacturing sectors, which are driving GDP data upward – though pressure remains in the mining sector. [Bloomberg]

• Former Cape Town mayor Patricia de Lille has revealed the name of her new political party – GOOD. De Lille dismissed criticisms of her move to launch a new party, and said it will provide a viable alternative for those who want ‘GOOD’ governance. [Mail & Guardian]

• South Africa’s rand weakened against the dollar on Friday as demand for riskier assets remained subdued ahead of the G20 summit and a meeting between the leaders of China and the United States this weekend. On Monday the rand was at R13.71 to the dollar, R17.52 to the pound and R15.56 to the euro.