5 important things happening in South Africa today

 ·28 May 2024

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

  • Climate advisors not surprised by coal station delay: Eskom’s decision to delay shutting down older coal-fired power stations until 2030 will not significantly hinder South Africa’s climate goals, assert climate advisors to President Cyril Ramaphosa. Originally, plants like Camden, Hendrina, and Grootvlei were set for decommissioning by 2025 and 2026. Despite concerns this might affect the nation’s emission targets—given the electricity sector’s 70% contribution to emissions—Dr. Crispian Olver of the Presidential Climate Commission notes the impracticality of closing coal plants amidst a power crisis. [Business Day]

  • More police officers deployed to KZN and EC: To ensure safety amid special voting, the government has bolstered security in the Eastern Cape and Kwazulu Natal due to potential violence threats. National Police Commissioner Fanie Masemola reports 500 Public Order Policing members have been dispatched across these regions, with a focus on over 600 high-risk voting stations and hotspots during the election period. [SABC]

  • Tiger Brands slash product range: Tiger Brands, South Africa’s largest food producer, plans to cut its product variants and pack sizes by 20% within three years to boost efficiencies. CEO Tjaart Kruger says the focus will be on best-selling flavours and sizes of popular products like Albany bread and All Gold tomato sauce, while less popular items will be dropped. The R37 billion company aims to reduce its stock-keeping units accordingly. [News24]

  • Special voting concludes today: The Independent Electoral Commission of South Africa (IEC) has stated that it is on track to complete special voting today, despite facing some challenges on the first day. Over one hundred polling stations were unable to open due to disruptions in certain parts of the country on Monday. [EWN]

  • Markets: The rand was stronger on Monday, supported by a weaker dollar, ahead of a week headlined by the national election and featuring an interest rate decision. On Tuesday (28 May), the rand was trading at R18.35 to the dollar, R23.47 to the pound, and R19.92 to the euro. Oil is trading at $83.29 a barrel. [Reuters]
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