5 important things happening in South Africa today

 ·27 May 2024

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

  • Special voting kicks off today: Special voting for South Africa’s general elections begins on Monday 27 May until Tuesday 28 May, with over 1.6 million people approved by the Electoral Commission of South Africa (IEC) to cast their ballots early. Early voting stations will open at 9 am across the country. IEC officials will also be doing home visits to assist voters who are physically or visually impaired. [EWN]

  • Instances of corruption found in High Court offices: The Special Investigation Unit (SIU) has revealed in a 10-year probe into the Masters of the High Court and the Chief Master’s offices that corruption, maladministration, and collusion have cost the community billions of rand. The SIU’s findings, submitted to President Cyril Ramaphosa, highlight how officials demanded payments for free services, including the processing of deceased estates. [City Press]

  • Economic Zone corruption scandal: An investigation into a communications contract at the Musina-Makhado Special Economic Zone (MMSEZ) has suggested disciplinary actions against its CEO for backdating a contract. Despite not officially signing a service-level agreement with Mahuma Group for marketing and PR services worth nearly R4.5 million, MMSEZ used and paid for these services. In the forensic report, the CEO altered contract dates to justify payments, despite the absence of a formal agreement. [City Press]

  • Private coal-fired power station attracts new investors: Zungu Investments Company and Mergence Investment Managers have invested in Kelvin Power Station, South Africa’s only privately owned coal-fired power station. The Competition Commission approved Harith InfraCo’s acquisition of Aldwych, with Harith InfraCo’s shareholders including the Government Employees Pension Fund (GEPF), the Development Bank of Southern Africa, Mergence, Zungu Investments, and Harith General Partners. Notably, both Harith and the GEPF have previously invested in Aldwych. [Business Day]

  • Markets:  The South African rand strengthened on Friday, ahead of a general election and an interest rate decision next week. On Monday (27 May), the rand was trading at R18.42 to the dollar, R23.53 to the pound, and R20.04 to the euro. Oil is trading at $82.34 a barrel. [Reuters]

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