5 important things happening in South Africa today

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


  • Untapped R350 billion potential: A recent European Union (EU) study, consolidated by Trade Advisory, said that South Africa is not taking full advantage of its export opportunities and is leaving R350 billion of untapped potential on the table. According to the report, in the short term, motor vehicle components and food and agricultural products hold the most untapped potential. [News24]

  • SARs strike: The National Education Health and Allied Workers’ Union (Nehawu) and the Public Servant Association (PSA) are continuing the strike against the South African Revenue Service (SARS). Several branches and call centres across the country are closed, electronic booking is also not possible. The workers are demanding an across-the-board increase of 12% with SARs offering 1.3%. [Moneyweb]

  • Zuma trial: The National Prosecuting Authority (NPA) has welcomed the judgment by the Supreme Court of Appeal (SCA) that dismissed a reconsideration application by former President Jacob Zuma who wanted a judgment on prosecutor Billy Downer overturned. The former president wanted Downer removed from his corruption trial and argued that he did not have title to prosecute him and was biased. [EWN] [ENCA]

  • First female black CEO at Deloitte: The African unit of Deloitte has named Ruwayda Redfearn as the next chief executive officer to lead the multinational’s African unit. Redfearn will succeed the current CEO on June 1 and marks the first black female chief executive officer in the history of Deloitte’s Africa unit. Redfearn started her career as a trainee at Deloitte’s KwaZulu-Natal office in 1997. [Bloomberg]

  • Markets: The South African rand edged lower on Wednesday, as the dollar bounced back ahead of the release of US Federal Reserve minutes of its last policy meeting. Earlier this week the South African Reserve Bank said the risk of a spillover of the Russia-Ukraine war could hurt South Africa’s financial stability. The rand is currently trading at R15.66/$, R16.84/€ and R19.81/£. [Nasdaq]

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5 important things happening in South Africa today