5 important things happening in South Africa today

 ·26 Mar 2024

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

  • Activists launch legal action against TotalEnergies: Environmental advocacy organizations, The Green Connection and Natural Justice, have initiated a legal action challenging the approval given to TotalEnergies for environmental authorization. This authorization allows TotalEnergies to carry out exploratory drilling for oil and gas in the oceanic region between Cape Town and Cape Agulhas. [Business Day]

  • Eskom wants increase in power bought from private companies: Electricity Minister Kgosientsho Ramokgopa has proposed that Eskom increase its power procurement from private companies from 1,000MW to 4,000MW as it continues to battle power cuts. The proposal is awaiting approval from the Eskom board. [News24]

  • Eleven MPs to have their salaries docked: The joint ethics committee has said that 11 ANC Members of Parliament (MPs) are set to have their salaries docked and be formally reprimanded in Parliament for failing to declare their financial interests on time. [EWN]

  • Steinhoff legal head to plead not guilty: Steinhoff accused Stephan Grobler of plans to plead not guilty to charges of racketeering, three counts of fraud worth R21 billion, manipulation of financial statements and failure to report fraudulent activities. This follows the Pretoria Specialised Commercial Crimes Court granting Grobler bail of R150,000. [The Citizen]

  • Markets: The South African rand firmed against a weaker U.S. dollar at the close on Monday, ahead of the U.S. central bank’s decision on its interest rates. On Tuesday (26 March), the rand was trading at R18.88 to the dollar, R23.87 to the pound, and R20.49 to the euro. Oil is trading at $86.78 a barrel. [Reuters]

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