5 important things happening in South Africa today

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

  • Cancelled road tenders: The South African National Road Agency (Sanral) has cancelled adjudicated tenders to the value of R17.47 billion in the past week. The spokesperson for the agency confirmed that tenders – ranging from R1 billion to R6.8 billion for projects in Durban, Pietermaritzburg and the Eastern Cape – had been cancelled or lapsed. The South African Forum of Civil Engineering Contractors said that this is a crisis for the construction industry and the recovery of the South African economy. [Moneyweb]

  • Covid regulation challenge: The Department of Health is opposing a challenge by Afriforum and DearSA against the new regulations for managing Covid-19. Both organisations have approached the Pretoria High Court to declare the regulations unconstitutional and invalid. Afriforum and DearSA argue that it does not make sense to implement the new regulations at a time when mask mandates and other protocols are being dropped. The Department of Health said it would be fighting the case. [EWN]

  • Diverted flights: Since late March, OR Tambo International Airport had suffered a constrained supply of jet fuel, forcing international airlines to divert flights to refuel. A committee overseeing jet fuel provision at OR Tambo said that there is now no need to divert or cancel flights as the airline has secured 20 million litres of fuel. [News24]

  • Investment turnaround: Official data shows that the total fixed investment spending over 2021 had modest real growth after a six-year decline. Economists argue that increasing private investment spending could lift the South African economy, countering the impact of a slowing household sector and a bleak global backdrop. [BusinessLive]

  • Markets:  South Africa’s rand firmed on Tuesday as a pullback in the US dollar offered support despite continued power cuts that cloud the domestic economic growth outlook. Economists stressed that severe US interest rate hikes would hurt growth in the US and globally. The rand is currently trading at R15.93/$, R16.79/€ and R19.89/£. [Nasdaq]

Must Read

Partner Content

Show comments

Trending Now

Follow Us

5 important things happening in South Africa today