5 important things happening in South Africa today

 ·20 Feb 2024

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

  • Climate Commission scolds energy ministry’s plan to tackle power supply: South Africa’s Presidential Climate Commission has recently criticized the energy ministry, stating that their plan to address the country’s power supply crisis is inadequate. Furthermore, the energy ministry’s disregard for air quality and climate change is in violation of both the law and international agreements. [BusinessTech]

  • President gives the go-ahead to dig into corruption at PRASA: President Cyril Ramaphosa ordered the Special Investigating Unit (SIU) to probe corruption at the Passenger Rail Agency South Africa (PRASA), particularly its purchase of locomotives from Swifambo and deal with Siyangena to supply and maintain an integrated security access management system at various train stations. (GroundUp)

  • Gauteng looking to become more investor-friendly: At the Gauteng State of the Province Address held last night, Premier Panyaza Lesufi said that the province is working to make the country’s economic hub a more appealing destination for investors, touting that local and international investors have already pledged R40 billion towards various development projects in the province [BusinessDay]

  • WC govt to spend R7 billion over next three years to ease load shedding: At last night’s Western Cape State of the Province Address, Premier Alan Winde said that the provincial government would be spending R7 billion over the next three years to ease the burden of load shedding in the province. [EWN]

  • Markets: The South African rand slipped on Monday against a stronger dollar as investors waited for local unemployment figures on Tuesday and the finance minister’s budget speech on Wednesday. On Tuesday (20 February), the rand was trading at R18.98 to the dollar, R23.61 to the pound, and R20.37 to the euro. Oil is trading at $83.45 a barrel. [Reuters]

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