Here’s what is happening in and affecting South Africa today:
- A massive increase in petrol and diesel prices hitting tomorrow will likely ripple through the economy, and impact prices in other places. The IRR said that consumers should prepare themselves for pressure on inflation, which could impact rates. [IOL]
- While churches and religious groups in South Africa enjoy tax benefits, SARS says leaders who earn an income from churches still need to pay the right taxes. The revenue service intends to crack down on these people, who may be dodging their tax responsibilities. [ENCA]
- Eskom has announced the team of experts that will try and help save the company from crisis. The panel includes 11 experts, including academic, engineering and power systems professionals. [Eskom]
- South Africa has the second highest number of departments and ministers in the world – and all indicators in a coming report from the department of Public Service and Administration point to a cutting of departments coming our way. [ENCA]
- South Africa’s rand ended firmer on Monday, boosted by growing hopes of a trade deal between the US and China, but trading was cautious ahead of crucial local and offshore data. On Tuesday the rand was at R14.21 to the dollar, R18.70 to the pound and R16.10 to the euro.