5 important things happening in South Africa today

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

  • Transnet tenders: State-owned rail company Transnet will issue a tender for new locomotives in July in an attempt to keep key customers in the mining industry. The logistics group has lost billions in export sales due to a shortage of trains to transport goods to ports across the country. The chief executive officer of Transnet noted that the tender would be clean and fair. [BusinessLive]

  • Easing the blockade: The Road and Freight Inter-Ministerial Committee (IMC), in partnership with other industry stakeholders, have signed an 11-point plan to deal with the industry’s challenges following the blockage of essential economic routes. The Road Freight Association (RFA) said it would not agree to the plan as it proposes the introduction of operating licences. The RFA pointed to the plan as an attempt by someone to capture the freight industry. [Moneyweb]

  • R7.5 billion in rates: Businesses and residents in Cape Town owe the City of Cape Town R7.5 billion in rates and services. The City’s financial monitoring report for April shows that government entities owe R97 million. Between March and April this year, the City saw an increase of R248.5 million in debt. [News24]

  • Final state capture report: The State Capture Commission says the fifth and final state capture report, which was meant to be handed in by the end of April, has been delayed again. The group pointed to challenges involving processing as the reason behind the delays. The commission has said the official handover will now take place on Wednesday. [EWN]

  • Markets: The South African rand strengthened against the US dollar on Monday as investors continued to assess the risks that tighter US monetary policy will have on global markets. This follows the Federal Reserve introducing the biggest interest rate hike in a quarter of a century. The rand is currently trading at R16.02/$, R16.86/€ and R19.65/£. [Nasdaq]

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5 important things happening in South Africa today