5 important things happening in South Africa today
·18 Jul 2022
Here’s what is happening in and affecting South Africa today:
- Energy intervention: President Cyril Ramaphosa is set to make an announcement this week on the government’s interventions to tackle South Africa’s crippling load shedding crisis. Ramaphosa’s statement is expected to be watched closely by both citizens and foreign investors, with the ANC’s long-awaited July conference, also set to commence on Friday. [BusinessDay]
- Strike season: Economists are warning of increasingly unstable labour relations and more strikes across South Africa as workers demand higher pay to cope with the soaring cost of living. Economists say rampant fuel and food inflation are the biggest concerns for the lowest-paid workers because these items account for the biggest portion of their costs. [TimesLive]
- Mass shootings: South Africa continues to see a spike in mass shootings and violent murders, but the country’s top police officials say that these are not coordinated attacks. Residents have blamed the incidents on a lack of visible policing combined with ongoing load shedding, which is being taken advantage of by criminals. [News24]
- Water shortages: Government officials have warned that available water reserves in Nelson Mandela Bay are ‘alarmingly low’, with the coastal city now facing a full-on water crisis, despite some much-needed rainfall in the area. Usable water remains at under 3% but there are concerns around how much longer the situation can continue. [eNCA]
- Markets: The rand hovered near 23-month lows in early trade on Friday, as the dollar briefly paused its ascendancy after two Federal Reserve policymakers said they favoured a smaller rate rise to fight soaring inflation. The rand is currently trading at R17.04/$, R17.19/€ and R20.25/£. Brent crude is priced at $101.9/barrel. [Reuters]
Loading ...