5 important things happening in South Africa today

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

  • Truckers forum: Members of the All-Truck Drivers Forum have threatened to continue disrupting the country’s major economic routes if no changes are made to the sector. The forum said they will continue their protest between Durban and Johannesburg, which started last Thursday. The group wants local drivers to be given priority over foreign nationals when it comes to jobs. [EWN]

  • Green energy: The President of the UN Climate Change Conference (COP26) is visiting South Africa this week to encourage the implementation of the $8.5 billion Just Energy Transition Partnership. The partnership aims to move the country away from its over-reliance on coal and towards net-zero carbon emissions by 2050. South Africa’s transition is intended by the UN to be used as a model country for other international partners. [Daily Maverick]

  • Day Zero: Recent rains could do little to support diminishing water levels in Nelson Mandela Bay. By Friday this week, the metro will lose another dam, with the Churchill Dam sitting close to 8% of its capacity. The water sources that supply the area are sitting at the cumulative low level of 12%. The area’s chamber of business said that paired with a lack of rain, the absence of accountability and urgency on the part of the municipality is to blame. [News24]

  • Ministers in crosshairs: President Cyril Ramaphosa is reportedly looking to change his cabinet in October. The change is expected to implement recommendations from the final state-capture report, which is set to be handed to the President this Monday. The report has revealed concerns around several high-profile cabinet members implicated in scandals such as state capture. [BusinessLive] [EWN]

  • Markets: Wall Street futures shed early gains amid worries that the US Federal Reserve would underline its commitment to fighting inflation with whatever rate hikes were needed. The S&P 500 fell by almost 6% last week to trade 24% below its January high. The rand is currently trading at R15.98/$, R16.82/€ and R19.56/£. [Nasdaq]

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5 important things happening in South Africa today