5 important things happening in South Africa today

 ·4 Mar 2024

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

  • Rand Water reduces water to non-paying municipalities: Rand Water is threatening to reduce water flows in non-paying areas. The utility is contemplating declaring an intergovernmental financial dispute as municipal debt escalates, saying that municipalities owe them R3 billion – R2 billion from Gauteng councils and R1 billion from Mpumalanga. [eNCA]

  • ANC Integrity Commission targets corruption-accused members: The ANC’s Integrity Commission has submitted a report that recommends that almost 100 members should be removed from the party’s list of election candidates because of their involvement in corruption and state capture, as revealed in the Zondo Commission. Some high-ranking members of the party individuals are implicated. [City Press]

  • BP loses R224 million fuel tax refund appeal: BP Southern Africa’s years-long legal battle with Sars over tax refunds is over. The company asserted that it had sold 3 million gallons of diesel to Zimbabwe and, as such, was eligible for refunds worth R224 million. The Pretoria High Court denied the request to appeal against the dismissal of its claim, putting an end to its hopes of receiving the refunds. [Business Day]

  • V&A Waterfront’s R20 billion makeover: Cape Town’s Victoria & Alfred Waterfront has formally applied for a R20 billion makeover that is said to transform part of the city’s coastline and expand development at the popular tourist attraction by around a half. [Times Live]

  • Markets: South Africa’s rand was broadly stable at the close of trading on Friday after a local purchasing managers’ index survey showed factory activity bouncing back last month. On Monday (4 March), the rand was trading at R19.12 to the dollar, R24.21 to the pound, and R20.75 to the euro. Oil is trading at $83.63 a barrel. [Reuters]

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