5 important things happening in South Africa today

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

Load shedding: No planned load shedding today, though the system remains vulnerable. [Eskom]

  • Job cuts: South Africa’s jobs bloodbath continues with brewing giant SAB sending notice to 500 employees about retrenchments. The group employs 5,700 workers in South Africa. This would add to the likes of Telkom, Massmart, Aspen and others, who together have put over 9,500 jobs on the line. [Moneyweb]
  • Smart IDs and passports: The department of Home Affairs and South Africa’s banks will be expanding their partnership to more bank branches in 2020, with 19 more branches confirmed to be part of the rollout this year. Currently the in-branch Home Affairs services – which greatly reduce wait times for Smart IDs and Passports – are only available in 16 branches, largely in Gauteng. [MyBroadband]
  • SAA: Unions are heading to the labour court to try and stop SAA’s business rescue practitioners from retrenching workers, threatening strike action if their demands are not met. The unions want workers flagged for retrenchment to be retrained, and to be paid three quarters of their salaries while being retrained. They seek a court order to prevent “rushed” retrenchments that do not follow due process. [Reuters]
  • Coronavirus: 61 individuals in South Africa have been tested for the coronavirus, which has now been called Covid-19, with all results coming back negative. While there are no confirmed cases in the country, the global spread of the virus is causing delays in construction projects, and hitting the wider economy. The virus has now killed over 1,100 people, and infected 44,600. [NICD]
  • Markets: South Africa’s rand rallied more than 1% on Tuesday, shrugging off still-high unemployment figures and a plunge in manufacturing output to hit a three-session high, as a bounce in risk demand globally was spurred by easing coronavirus fears. On Wednesday the rand was at R14.79 to the dollar, R19.16 to the pound and R16.14 to the euro. [XE]

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5 important things happening in South Africa today