Here’s what is happening in and affecting South Africa today:
- Experts say that if Eskom doesn’t get its requested 15% tariff hike every year for the next three years, it’s going to have to get government bailouts for the next 10 years to address its R420 billion debt crisis. The group is appealing to regulator Nersa to grant the increases. [Mail & Guardian]
- Ster Kinekor, Primedia and the SABC have been found by the Competition Commission to be engaging in cartel conduct – fixing prices and trade conditions in the media space. The have agreed to pay penalties to the tune of R42 million, with millions more being paid over time. [CompCom]
- SAA CEO Vuyani Jarana says that the struggling airline has been hitting its operational targets in a very difficult situation, which is why banks have agreed to R3.5 billion in funding – at least in principle. The money will allow SAA to keep operating until the end of April. [Business Day]
- If you missed voter registration this weekend, you can still register to vote at your local IEC office weekdays, from 08h00 to 17h00. You will be able to register up until the proclamation of the election date, which is expected once parliament opens for the year. [IEC]
- South Africa’s rand firmed against the dollar on Friday, supported by a pick up in risk-taking, while banks topped the blue-chip index after Morgan Stanley raised their target prices. On Monday, the rand was at R13.59 to the dollar, R17.94 to the pound and R15.52 to the euro.