5 important things happening in South Africa today

 ·21 Jun 2024

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

  • Five old power stations allowed to run without pollution control: Eskom is permitted to run five old power stations without meeting emissions standards until 31 March 2030 but must submit plans for their decommissioning within 12 months. This was decided by Minister Barbara Creecy following recommendations from a 2022 panel. [News24]

  • FF Plus joins GNU: The Freedom Front Plus (FF+) has become the latest party to join the Government of National Unity (GNU), signing the statement of intent. The GNU now makes up a combined 280 out of the 400 seats in Parliament. In a media release later on 20 June, the party said that it was invited and decided, after careful consideration, to get involved to “help restore and rebuild South Africa”. [EWN]

  • Battered consumers looking for cheaper cars: Motus, South Africa’s largest vehicle dealership, has observed a trend of consumers opting for more budget-friendly cars in response to the weak economy and rising interest rates. Nonetheless, the company holds a positive view for the coming three years, expecting a climate of lower interest rates and a stable environment fostered by the government of national unity. This shift towards affordability has also resulted in a surge of Chinese and Indian car brands entering the market, according to the company. [News24]

  • Discovery Health slams Road Accident Fund: Discovery Health accuses the Road Accident Fund and its CEO of defying a court order prohibiting them from withholding payments for previous medical services covered by medical aid. Discovery alleges the RAF introduced new directives to sidestep the ruling and is now pushing for compliance with the October 2022 decision, including holding CEO Collins Letsoalo accountable for contempt. The RAF refutes these allegations. [GroundUp]

  • Markets: The rand slipped on Thursday as investors turned cautious ahead of newly re-elected President Cyril Ramaphosa’s cabinet appointments under a unity government. On Friday (21 June), the rand was trading at R17.96 to the dollar, R22.88 to the pound, and R19.38 to the euro. Oil is trading at $85.63 a barrel. [Reuters]
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