{"id":248173,"date":"2018-05-30T07:43:15","date_gmt":"2018-05-30T05:43:15","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=248173"},"modified":"2018-05-30T08:06:27","modified_gmt":"2018-05-30T06:06:27","slug":"5-important-things-happening-in-south-africa-today-313","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/248173\/5-important-things-happening-in-south-africa-today-313\/","title":{"rendered":"5 important things happening in South Africa today"},"content":{"rendered":"<p>Here&#8217;s what is happening in and affecting South Africa today:<\/p>\n<ul>\n<li><strong><a href=\"https:\/\/af.reuters.com\/article\/southAfricaNews\/idAFL5N1T05PR\">South Africa&#8217;s National Minimum Wage Bill has been passed by parliament.<\/a><\/strong> The bill must now go to the National Council of Provinces for approval before it can be passed into law. The bill will see millions of workers in South Africa earning at least R20 an hour, or R3,500 a month. [Reuters]<\/li>\n<\/ul>\n<ul>\n<li>The ANC&#8217;s NEC says it has started the process to nationalise the South African Reserve Bank &#8211; <strong><a href=\"http:\/\/www.702.co.za\/articles\/305604\/nationalising-the-reserve-bank-is-irrelevant-economist\">a move that economists say is nothing more than political posturing<\/a><\/strong>, as it will ultimately have very little impact of monetary policy or government&#8217;s transformation goals. [702]<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/www.iol.co.za\/business-report\/companies\/star-is-changing-its-name-back-to-pepkor-holdings-15220803\">Steinhoff Africa Retail (STAR) is changing its name back to Pepkor in a bid to shed itself of the Steinhoff name,<\/a><\/strong> and the damage caused by the parent company&#8217;s so-called &#8216;accounting scandal&#8217;. The name change needs shareholder approval, but the group says it will reaffirm its independence. [IOL]<\/li>\n<\/ul>\n<ul>\n<li>The panel that is reviewing the list of zero-VAT items has been <strong><a href=\"https:\/\/www.enca.com\/money\/nene-expands-scope-of-vat-panel\">given a wider scope in their investigations, and an extra month to conduct the review<\/a><\/strong>. The panel can now make proposals to alter the fiscal framework for the 2019\/20 financial year and beyond. Their new deadline is 31 July 2018. [eNCA]<\/li>\n<\/ul>\n<ul>\n<li>South Africa\u2019s rand fell against the dollar on Tuesday as political turmoil in Italy hit global risk appetite, stoking a selloff in emerging market currencies and stocks as investors looked to buy safe-haven assets. <strong><a href=\"https:\/\/www.xe.com\/currencyconverter\/convert\/?Amount=1&amp;From=USD&amp;To=ZAR\">On Wednesday the rand was at R12.68 to the dollar, R16.80 to the pound and R14.62 to the euro.<\/a><\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Parliament has passed the National Minimum Wage Bill; the ANC says it is starting the process to nationalise the SARB; Steinhoff Africa Retail is changing its name back to Pepkor; and finance minister Nene has given the zero-VAT review panel an extra month to do its work.<\/p>\n","protected":false},"author":10,"featured_media":20450,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,11121],"tags":[26],"class_list":["post-248173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-finance","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/248173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=248173"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/248173\/revisions"}],"predecessor-version":[{"id":248193,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/248173\/revisions\/248193"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/20450"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=248173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=248173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=248173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}