Here’s what is happening in and affecting South Africa today:
- The Central Energy Fund will today detail how the recent attacks on Saudi Arabia’s oil reserves will impact the South African fuel price. Petrol prices were expected to come down in October, but the attack led to oil prices surging, which will adversely affect local prices. South Africa doesn’t have any oil reserves itself after they were sold off a few years ago. [ENCA]
- South Africa sits in an unenviable position of having to choose between coal power and renewable energy – with the entire South African economy hanging in the balance. According to analysts, pursuing coal power will ultimately result in the country being junked, as lenders are no longer financing these builds, and the costs are mounting. However, with Eskom in financial ruin, government lacks the room to manoeuvre through the transition. [Daily Maverick]
- Gauteng MEC for Education Panyaza Lesufi has accused Solidarity of racism, in the union’s bid to build a R300 million vocational university where the language of instruction is Afrikaans. He said that a race-based institution in a non-racial society won’t succeed, and that the plan was reminiscent of apartheid. Solidarity’s university will be privately funded, and promises world-class education. [EWN]
- President Cyril Ramaphosa has for the first time questioned public protector Busisiwe Mkhwebane’s motivations for pursuing him with such vigour, claiming that she appears to be driven by ulterior motives. Mkhwebane has pursued Ramaphosa and his appointees in several reports, many of which are being taken on review. The one now in question is where she dragged in ANC finances, which have little to do with the investigation she was pursuing. [Business Day]
- South Africa’s rand weakened on Monday, with global risk appetite dented by a weekend attack on Saudi Arabian refining facilities that hit global oil supplies and saw prices spike. Oil prices surged nearly a fifth following the strikes, which knocked out more than 5% of global oil production. On Tuesday the rand was at R14.70 to the dollar, R18.25 to the pound and R16.18 to the euro.