Government

5 important things happening in South Africa today

Staff Writer

 ·11 Apr 2022

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

• City tariff increase: Two of South Africa’s largest metros are proposing a tariff increase of around 10% for their utilities. The City of Ekurhuleni wants to increase the prices of water and sanitation by 11% from 1 July onwards, and the City of Joburg has proposed increases of 9.75% for both utilities. The metros said that in line with Eskom’s tariff increases approved by Nersa, they wish to increase tariffs charged on electricity by 9.61%. All metros, including the City of Cape Town, eThekwini and Tshwane, are conducting consultations with residents this month, and final budgets will be tabled by June. [Moneyweb]

• Chicken prices: South African chicken producers have warned of massive price hikes in the coming months, as the Russian invasion of Ukraine has knocked feed production. Ukrainian farmers, which produce the maize and soybeans critical for feed, won’t be planting crops due to the invasions, which will result in unavoidable price escalations. The war comes at the worst possible time, with the poultry industry already hit by the Covid-19 pandemic and the outbreak of avian flu. Chicken is one of the most affordable sources of protein in South Africa. [Fin24]

• Zuma threats: Former President Jacob Zuma’s legal team is pushing heavily for a postponement of his long-delayed corruption trial and says it is prepared to take the matter all the way to Constitutional Court. There have also been veiled threats, with his lawyers “reminding” judge Piet Koen to be “aware” of the deadly unrest that followed Zuma’s imprisonment for contempt. Zuma’s legal team declined to condemn the violence of last year’s July riots, leading to more than 300 people dead and damages amounting to billions. [EWN, News24]

• Prasa spy: Investigative journalists at amaBhungane have revealed the key figure who is suspected of being the source of the leaked emails that led to the widespread scrutiny of President Cyril Ramaphosa’s 2017 ANC leadership campaign. He reportedly has links to the State Security Agency (SSA) and has been appointed as the acting head of security at the Passenger Rail Agency of South Africa (Prasa). This has raised concerns about whether the SSA’s role is to protect the rail agency or capture it. [amaBhungane]

• Markets: Amid the first round of French presidential elections, the euro gained on relief that Le Pen did not win. Economists say that a Le Pen victory would be a similar jolt as Britain’s Brexit vote to leave the European Union. Asian shares slipped ahead of a week of central bank meetings and U.S inflation. After world consumers announced plans to release crude from strategic stocks, oil prices remained under pressure. The rand is currently trading at R14.66/$, R15.96/€ and R19.08/£. [Nasdaq]