5 important things happening in South Africa today

 ·11 Mar 2024

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

  • Post Office monopoly still possible: The Department of Communications and Digital Technologies will decide later this month whether to enforce or scrap the exclusive legal right of the Post Office to deliver parcels weighing less than 1 kg. [News24]

  • More bailouts on the cards: Departing Public Enterprises Minister Pravin Gordhan said the government will do everything possible to ensure arms manufacturer Denel does not collapse. He added that he is in discussions with finance minister Enoch Godongwana and that the details had not been ready before this year’s budget speech in February, but a way forward would soon be announced. [Business Day]

  • South Africa’s brain regain: There has been a 22% spike in queries from South African expats in the past two or three months wanting to come back. Cost of living, nanny culture and small homes abroad are among the reasons for coming back to South Africa. [Sunday Times]

  • Load shedding for the week ahead: Power utility Eskom said load shedding will continue to be suspended during the day, only moving to Stage 2 in the evenings this week. [BusinessTech]

  • Markets: The rand was trading at its strongest level on Friday for over a month, after a week of gains supported by surging gold prices. On Monday (11 March), the rand was trading at R18.76 to the dollar, R24.12 to the pound, and R20.53 to the euro. Oil is trading at $81.51 a barrel. [Reuters]

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