5 important things happening in South Africa today

 ·25 Mar 2024

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

  • NCOP backs Expropriations Bill: Seven provinces (North West did not submit a mandate, and the Western Cape Opposed) in the National Council of Provinces (NCOP) have endorsed the Expropriations Bill, which will now be tabled again in the National Assembly for the adoption of amendments proposed by the NCOP before President Cyril Ramaphosa signs it into law. [The Citizen]

  • Several private colleges deregistered: The Department of Higher Education has cancelled the registrations of Damelin College, CityVarsity, Lyceum Colleges, and Icesa City Campus, saying that they had not submitted annual financial statements in 2021 or 2022 or complied with the law. These private tertiary institutions are owned by Pinetown-based Educor. [Business Day]

  • Court to hear Speaker’s arrest interdict argument: The Gauteng Division of the High Court in Pretoria will hear an urgent application by the Speaker of Parliament today, wherein she is seeking an order interdicting National Prosecuting Authority’s Investigating Directorate (NPA ID) from arresting amid a corruption probe. The NPA’s Advocate, Mthunzi Mhaga, has said that they view the application as baseless and without merit. [SABC]

  • Filipino port giant expected at Durban port mid-year: Philippine company, the International Container Terminal Services Incorporated (ICTSI), has said that it will start operations at Durban Port between May and June, after initial plans for a January start. The company is entering a 25-year deal with Transnet to enhance and develop Pier 2, Africa’s largest terminal. Despite completing financial due diligence, Transnet notes there are still pending issues that need to be finalised with the company. [News24]

  • Markets: The South African rand weakened on Friday along with other emerging market currencies as the U.S. dollar gained on global risk sentiment. On Monday (25 March), the rand was trading at R18.97 to the dollar, R23.98 to the pound, and R20.53 to the euro. Oil is trading at $85.93 a barrel. [Reuters]

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