5 important things happening in South Africa today

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

  • South Africa’s new driving demerit system will come into effect in June 2020, according to transport minister, Fikile Mbalula. He said that the system will fundamentally change driving in South Africa, and will have zero tolerance for drunk driving, which is something of a crisis in the country. Over 24,000 motorists were arrested for drunk driving over the festive season. Along with the demerit system, government will take action against unroadworthy vehicles. [Enca]
  • An analysis of Eskom’s finances lays bare the deep crisis the company finds itself in, claiming that the group is simply in financial ruin, and – if it were an option – liquidating the business would likely be impossible. Despite operating in a forced monopoly by the state, in a market that is extremely lucrative, where prices are not elastic, mismanagement, corruption and pure incompetence has driven the company into the ground. [City Press]
  • South Africa’s rand and stocks fell on Thursday, as world markets dropped on mounting concern over a coronavirus outbreak in China. The rand’s losses ate into some of the gains made on Wednesday, when demand for riskier assets had rebounded. While it has struggled with a weak economy and rolling power cuts, on Thursday the rand largely reflected trends on global markets. On Friday the rand was at R14.38 to the dollar, R18.87 to the pound and R15.89 to the euro.

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5 important things happening in South Africa today