5 important things happening in South Africa today

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

  • Eskom wage hikes: Power utility Eskom said it will have to look for an ‘extra’ R1 billion to fund the recently agreed wage increase for its workers. Following wildcat strikes and tense negotiations, Eskom granted its workers a 7% wage increase alongside a R400 rise in their housing allowance. The company said it could not afford this deal, but was forced to offer it to avoid deepening the energy crisis. Unions say they compromised, and actually wanted higher. [EWN]

  • Hospitals in need: Medical experts are calling on Eskom to exclude public healthcare facilities such as hospitals and clinics from rolling blackouts. The deputy director-general for primary healthcare added it is essential to the sector as they are dealing with life or death situations that require electricity in places such as operating rooms. [ENCA]

  • Government ignores tourism industry: The South African Tourism Services Association (Satsa) said that it has heard nothing back from government after the National Public Transport Regulator (NPTR) stopped renewing or issuing new tourist vehicle operating licences. This association added that this is negatively impacting hundreds of tour operator vehicles and causing severe economic and reputational damage to the tourism industry at large. [Moneyweb]

  • ANC revamp: The ANC says it has decided to revamp a number of its policies, including one on cadre deployment after the final Zondo State Capture report highlighted unsettling findings that top officials dragged their feet in dealing with state capture. The report pointed to the ANC’s cadre deployment policy as a significant enabler of state capture. [Daily Maverick]

  • Markets: The South African rand was unmoving against the dollar thanks to little trading activity as a result of the US vacation. Oil prices, however, increased as concerns over a shortage of the commodity overcame concerns about a possible recession. The rand is currently trading at R16.56/$, R16.97/€ and R19.76/£. The price of Brent crude oil today is $104.4/barrel.  [Nasdaq]

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5 important things happening in South Africa today