5 important things happening in South Africa today
·5 Jan 2024
Here’s what is happening in and affecting South Africa today:
- Durban tourism bleeds: Regular beach closures due to E. coli and persistent rain challenged efforts to revitalise the city’s tourism sector. In 2015, 7.4 million people visited Durban, with a total direct spend of R19.2 billion, whilst in 2023 the direct spend is estimated to be R1.6 billion, with an estimated 800,000 visitors. [Daily Maverick]
- Eskom EAF plummets: The state-owned power utility’s energy availability factor (EAF) (a core measure of performance for any power utility that shows the percentage of time power stations were available for use) dropped to 50% for the last week of 2023, with the EAF for the entire year sitting at 54.71% – well below its targets. [Daily Investor]
- South Africa eyes an additional 105 gigawatts: The country’s updated energy blueprint envisions more than 100 gigawatts (GW) of new generation capacity being built by 2050 through a variety of technologies and fuels, including solar, wind, nuclear, and coal. [BusinessTech]
- Home Affairs official to appear in court for ID corruption: A 37-year-old Home Affairs Department official was arrested in Upington for alleged illegal processing of identity documents for undocumented foreign nationals for a fee. [TimesLive]
- Markets: The rand remained relatively steady as the dollar heads for its strongest weekly performance since July. On Friday (5 January), the rand was trading at R18.71 to the dollar, R23.75 to the pound, and R20.49 to the euro. Oil is trading at $77.93 a barrel. [Reuters]
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