5 important things happening in South Africa today
·15 Jan 2019
Here’s what is happening in and affecting South Africa today:
- Eskom is begging South Africans to give it more money. Eskom CEO Phakamani Hadebe has made a desperate plea for a 15% tariff hike every year for the next three years to help raise funds to get the company out of a debt trap. He acknowledged the problem was of Eskom’s own making, but said all South Africans were needed to avert disaster. [Business Day]
- Despite Vodacom drawing a line under the matter, its Please Call Me saga appears to be far from over. Nkosana Makate said he and his legal team are looking at options to challenge the payout from Vodacom for the idea. Makate wanted 15c for every R1 earned by Vodacom for Please Call Mes. [EWN]
- The state capture commission will resume on Tuesday – but with no clear indication on who will be testifying. The commission said that for the rest of the week it will hear oral evidence. Near the end of last year, ANC head of election Fikile Mbalula said he was prepared to testify in front of the commission. [ENCA]
- South Africa’s music industry is the next victim of the SABC’s money crisis, as the public broadcaster has been unable to pay service providers – including those who pay out royalties to local artists. The SABC reportedly owes over R55 million in royalties, which needs to be paid by the end of this month. [City Press]
- The South African rand was little changed on Monday as investors awaited closely watched data releases including mining output later in the week, while a plunge in investment firm Brait sent stocks lower. On Tuesday the rand was at R13.76 to the dollar, R17.75 to the pound and R15.79 to the euro.
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