5 important things happening in South Africa today

 ·8 Apr 2024

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

  • Danish port operator takes on Transnet: Danish logistics giant AP Moller-Maersk is challenging the legality of the contract awarded by Transnet to International Container Terminal Services (ICTSI) for the development and upgrade of the Durban Container Terminal Pier 2. According to AP Moller-Maersk, their proposal was superior to that of ICTSI. [Business Day]

  • Kganyago wants another Monetary Policy Committee member: In order to break possible deadlocks when the Monetary Policy Committee votes on interest rates, the governor of the South African Reserve Bank, Lesetja Kganyago, wants to grow the committee from six to seven members. [News24]

  • Denel gets R1.2 billion injection: The South African Air Force, which currently has only one serviceable Oryx helicopter, is expected to add more serviceable helicopters to its fleet after the military command council approved for Denel, with Krygkor’s mediation to proceed with repairs on various unserviceable helicopters at a cost of R400 million a year over three years. [City Press]

  • Ekurhuleni warned of dissolution: Gauteng Cooperative Governance MEC, Mzi Khumalo, has warned that the City of Ekurhuleni risks being dissolved unless it elects a new mayor promptly. The city has been without a mayor for over a week following the removal of AIC’s Sivuyile Ngodwana. The council was supposed to elect a new one on April 4th, but the speaker postponed the meeting, which Khumalo said is seen as a failed attempt to elect new leadership. [EWN]

  • Markets: The rand held onto its recent gains against the dollar on Friday in the absence of major local economic data releases. On Monday (8 April), the rand was trading at R18.73 to the dollar, R23.64 to the pound, and R20.28 to the euro. Oil is trading at $89.81 a barrel. [Reuters]

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