Here’s what is happening in and affecting South Africa today:
- Markets have responded poorly to comments from president Cyril Ramaphosa that the government will move ahead to nationalise the Reserve Bank. Ramaphosa insists that there is nothing sinister about the move, but the markets disagree – strongly. [Business Day]
- Critics have slammed the Eskom tariff hike granted by Nersa, saying it rewards corruption, and will put consumers under even more pressure. Economists are noting that even wiuth the above inflation the hike, government will still have to keep bailing Eskom out. [Reuters]
- EFF supporters are threatening critics with rape and violence – and South Africa’s electoral Act makes provision for parties that promote or condone such behaviour to face punishment. Parties could be restricted from campaigning, or even de-registered from the elections. [Daily Maverick]
- Uber could face a class action lawsuit in South Africa, from 11 customers who say they experienced criminal activity while using the service or from drivers. Charges include rape, attempted rape, kidnapping, robbery, assault and attempted murder. [News24]
- South Africa’s rand fell on Thursday, tracking the euro lower, while at home state power utility Eskom got smaller tariff hikes than sought. On Friday the rand was at R14.52 to the dollar, R19.01 to the pound and R16.26 to the euro.