5 important things happening in South Africa today

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

  • Cost of living: Despite fuel prices coming down this Wednesday, they remain at some of the highest points on record. President Cyril Ramaphosa, speaking as leader of the ANC, said that policies are coming that address the higher cost of fuel and food. The ANC will make these recommendations to the government, with the president effectively calling on himself to implement them. Petrol is due to come down by R1.32 per litre on Wednesday, and diesel by around 90 cents per litre. [BusinessTech, ENCA]

  • Wage talks: For the first time since the dawn of democracy in South Africa, the finance minister – and not the public service minister – will spearhead wage talks with public servants. This comes as National Treasury takes a keen interest in this particular budget item, which absorbs over a third of annual spending by the state. Treasury is determined to keep the R665 billion budget item under control. [BusinessLive]

  • Airline prices: Airline tickets in South Africa have ballooned since the shut down of Comair and the grounding of Kulula flights, more than doubling in most cases. The increase is not just because of the Comair closure, however. Lift founder and former Kulula.com CEO, Gidon Novick said that, during regular travel times, ticket prices are usually subsidised by business travellers who pay a premium which allows for other tickets to be lower. However, not as many business travellers are flying due to a shift in travel. [Daily Investor]

  • ANC conference: It was win some / lose some for president Cyril Ramaphosa at the ANC’s policy conference this weekend, with some core policies of his administration – such as the step-aside rule – remaining firm at the end of the discussions and debates. However, some other policies – such as the economically damaging call to speed up the nationalisation of the South African Reserve Bank – also gained traction. [Daily Maverick]

  • Markets: South Africa’s rand weakened against the dollar on Friday after data showed the country recorded a smaller-than-expected trade surplus for June. Data from the South African Revenue Service showed that the trade surplus narrowed to R24.23 billion rand in June from a surplus of R30.85 billion rand in May. On Monday, the rand was trading at R16.64/$, R17.01/€ and R20.27/£. Brent crude is trading at $ a barrel. [Reuters]

Must Read

Partner Content

Show comments

Trending Now

Follow Us

5 important things happening in South Africa today