Business

5 important things happening in South Africa today

Staff Writer

 ·26 Nov 2019

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

• Sanral is evaluating tenders for the continued management of e-toll collection, alluding to the system remaining firmly in place for the foreseeable future. Current toll collection company ETC’s contract expires next month, while motorists wait for the outcome of a special government process to determine what will happen with the controversial system. Motorists have rejected the system and largely do not pay toll fees. [Moneyweb]

• Critical water infrastructure in South Africa has been left in the lurch as the Department of Water and Sanitation is embroiled in a legal battle over an expired maintenance contract. The department has reportedly ignored legal advice to award the tender to preferred bidders, and is instead challenging the matter in court – but is failing to actually submit papers. It is now forced to contract costly suppliers to do emergency repair work in a crisis it created for itself. [City Press]

• The Standing Committee on Public Accounts has blasted SAA for failing to publish its financial results for the past two years, accusing the airline of disregarding parliamentary processes. SAA has posted losses every year for the better part of a decade, and finds itself once again in financial crisis. The group just came out of a week-long strike, which cost it millions. [Fin24]

• In her latest delaying tactic, former SAA chair Dudu Myeni now wants to change some of her pleas in the case brought against her by Outa, to have her declared a delinquent director. The case has been delayed four times already, due to Myeni simply not turning up to court. She now claims that her legal team misled her, and that’s why she pleaded guilty to some charges. [ENCA]

• South Africa’s rand weakened on Monday, giving up small early gains as uncertainty over a trade agreement between the United States and China outweighed relief from S&P’s decision to only downgrade the outlook, not the rating, on the country’s debt. On Tuesday the rand was at R14.75 to the dollar, R19.02 to the pound and R16.25 to the euro.