5 important things happening in South Africa today

 ·2 Apr 2024

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

  • More Rand Water woes expected: In Rand Water’s corporate business plan ending in 2028, it is said that fourteen million people across four provinces and several cities should expect “water supply challenges” between now and late 2027. The company said that this is due to an increase in demand which is greatly stretching supply. Rand Water has currently been extracting more water from the Vaal River than its licence caters for. [News24]

  • SABC plans for no government assistance: The commercially insolvent SABC has developed an admittingly “very ambitious” 5-year strategy which anticipates that it would be able to survive on its own without any funding from state coffers based on high-risk revenue projections. Despite this plan, the SABC chair said that the focus should still fund the state broadcaster due to around R44.2 billion still owed by customers for TV licenses. [Business Day]

  • Ruling expected for Speaker’s arrest interdict: The Pretoria High Court will hand down a ruling today regarding the Speaker of Parliament Nosiviwe Mapisa-Nqakula’s interdict of her arrest. The Speaker approached the courts last week when she was expected to hand herself in for corruption-linked charges during her time as defence minister. [EWN]

  • Illicit tobacco market hits BAT: British American Tobacco South Africa has cut cigarette deliveries to some stores due to the fact that the illicit cigarette market has overwhelmed the legal market. As a result, this puts around 500 jobs at third-party logistics companies at risk. The company now sells 40% fewer cigarettes than it did in 2020 and is in retrenchment talks with various office staff who manage its external deliveries. [Business Day]

  • Markets: The rand held onto its relative gains from last week following Reserve Bank leaving the repo rate unchanged at 8.25%. On Tuesday (2 April), the rand was trading at R18.92 to the dollar, R23.81 to the pound, and R20.37 to the euro. Oil is trading at $87.85 a barrel. [Reuters]
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