5 important things happening in South Africa today

 ·1 Dec 2023

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

  • New energy plan: An update of South Africa’s energy plan, which serves as a guide for government procurement of new generation capacity, goes to the cabinet next week. Mineral resources and energy minister Gwede Mantashe said the present version is considered outdated as it does not provide for procurement of sufficient new generation capacity. [Business Day]

  • SAA corruption reveal: South African Airways (SAA) has been plagued by corruption over the past decade, including a R375 million tender for tyres and R85 million for airport lounge catering. There were also corrupt payments between SAA’s subsidiaries, employees, and the board worth R1.8 billion. This was revealed by the head of the SIU in a presentation to Parliament’s Standing Committee on Public Accounts (Scopa). [Daily Investor]

  • Green light for KZN beaches: Durban beaches are clear of high levels of E coli pollution and open for swimming as the city braces for a bumper festive season. However, there are still high levels detected in the river systems, and businesses are hoping the dry El Niño weather pattern keeps the E coli detected in river water from washing into the sea. [Mail & Guardian]

  • Load shedding relief soon: Electricity Minister Kgosientsho Ramokgopa has said Kusile unit 2, amid stage 6 load shedding, has come back to give us an additional 800 megawatts, so once it stabilises the emergency reserves, he is “more than confident” that going into the weekend, the intensity of load shedding is going to go down. [EWN]

  • Markets: The South African rand weakened against a broadly stronger U.S. dollar on Thursday after local data showed a rise in producer inflation, a widening budget deficit and a trade deficit. On Friday (1 December), the rand was trading at R18.84 to the dollar, R23.81 to the pound and R20.54 to the euro. Oil is trading at $82.83 a barrel. [Reuters]

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