5 important things happening in South Africa today

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

  • Suffering students: A new study proposes changes to the school curriculum after finding that most pupils in South African public schools are a year behind where they should be. The researchers said that pupils’ math skills suffered the most after lockdowns. However, the blame isn’t entirely due to the pandemic, with the report noting that public schools were performing poorly by international standards, even before Covid-19. [BusinessLive]

  • Public procurement: Finance minister Enoch Godongwana said that the Public Procurement Bill will be tabled in Parliament during this financial year. The bill aims to strengthen the transparency and efficiency of the government’s procurement of goods and services. The finance minister has been called to fast-track the bill as billions have been siphoned from state coffers due to procurement irregularities across the government. [EWN]

  • SA satellite: The minister of communications, Khumbudzo Ntshavheni, said that the South African government is moving forward with a project to develop a communication satellite that can be used for telecommunications, weather forecasting and scientific research. The satellite will reduce capacity leasing costs for government and other industries reliant on communication satellite technologies. The minister did not give a timeline for the project. [News24]

  • Cape Town contractors: Some of South Africa’s largest JSE-listed construction companies have agreed to settle a long-standing R429 million civil damages claim instituted by the City of Cape Town in 2014. The claim was instituted against the companies due to collusion and bid-rigging on the Green Point Stadium, now called the Cape Town Stadium, ahead of the 2010 FIFA World Cup. The City of Cape Town said that the companies could settle with R93 million in cash payments over a stipulated time frame and an R42.5 million investment into solar energy sites in the province. [Moneyweb]

  • Markets: Emerging market stocks firmed for the fourth day on Wednesday as declines in China capped gains, while South Africa’s rand slipped ahead of crucial economic data due later in the day. The rand trimmed losses to fall 0.3% after data showed consumer price inflation in the country stood at 5.9% year on year, just within the central bank’s target range. The rand is currently trading at R15.98/$, R16.77/€ and R19.79/£. [Nasdaq]

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5 important things happening in South Africa today