Energy

5 important things happening in South Africa today

Staff Writer

 ·16 Oct 2019

Here’s what is happening in and affecting South Africa today:

• Unless government stops playing political games with South Africa’s energy plan, and makes urgent changes, it’s going to be lights out for citizens once again. This is according to academics, commenting on the adoption of a new Integrated Resource Plan, which has been updated for the first time since 2010. The plan, however, tries to keep political interests happy, at a time that urgent action is needed to ensure South Africa has power sources. [Daily Maverick]

• Former president Jacob Zuma has once again dodged his day in court, this time taking his pending corruption trial to the Supreme Court of Appeals to try and have prosecution stayed. This delays the court case to a pre-trial date in February, with a trial date in April 2020. Zuma has deftly dodged this particular matter – charges of corruption relating to the arms deal – for 15 years. [Moneyweb]

• The PIC says it’s not going to stick its nose into the Old Mutual vs Peter Moyo saga as some arbitrator, but it has encouraged both parties to come together and settle the matter out of court. The investment body said that both Old Mutual and Moto appear determined to go the legal route, which protracts the whole thing, and has an uncertain outcome. [CNBCA]

• National Prosecuting Authority (NPA) head Shamila Batohi says that South Africa’s justice system has huge flaws, and the rate of conviction in the country is shockingly low. Despite seeing an increase in successful prosecutions, compared to actual reported crimes, the number is under 10%. Batohi said that the NPA has its issues, but it’s the entire criminal justice system that’s at fault, to the point of being “dysfunctional on many levels”. [EWN]

• South Africa’s rand steadied in late trade on Tuesday, struggling for momentum as fading optimism over the latest China-US trade truce weighed on risk appetite, while stocks rose, led by chemicals firm Sasol. On Wednesday, the rand was at R14.93 to the dollar, R19.04 to the pound and R16.47 to the euro.