5 important things happening in South Africa today

 ·29 Jan 2024

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

  • SIU to probe ‘dodgy’ Transnet tender: The Special Investigating Unit (SIU) has begun an investigation into a security fence tender upgrade at Transnet National Ports Authority’s (TNPA), which ballooned from R90 million to R300 million. [City Press]

  • Oil prices rise as Middle East tensions escalate: Oil prices rose on Monday following a drone attack on United States forces in Jordan, which added to worries over escalations and subsequent supply disruption in the Middle East. [Business Live]

  • South African wine exports down: In 2023, South Africa faced a decline of 17% in its annual wine exports, with the amount dropping to 306 million litres. This reduction was influenced by factors such as high inflation and interest rates in some of the country’s primary wine export markets, which led to changes in consumer spending behavior. [Business Live]

  • Johannesburg financial woes: The City of Joburg is looking to adjust its budget downwards. City entities have bemoaned the late payment of service providers which has affected service delivery.  Sources within City Power allegedly told News24 that the entity’s late payment to Eskom almost resulted in the Joburg’s power being switched off. [News24]

  • Markets: The rand strengthened on Friday after data showed U.S. inflation rose modestly. On Monday (29 January), the rand was trading at R18.78 to the dollar, R23.87 to the pound, and R20.41 to the euro. Oil is trading at $84.01 a barrel. [Reuters]
Show comments
Subscribe to our daily newsletter