{"id":254141,"date":"2018-06-26T07:46:56","date_gmt":"2018-06-26T05:46:56","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=254141"},"modified":"2018-06-26T07:46:56","modified_gmt":"2018-06-26T05:46:56","slug":"5-important-things-happening-in-south-africa-today-332","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/254141\/5-important-things-happening-in-south-africa-today-332\/","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:\/\/mg.co.za\/article\/2018-06-25-basa-says-members-willing-to-help-out-stressed-parastals\">The Banking Association of South Africa has met with ministers and says its members are willing to help out South Africa&#8217;s struggling SOEs with &#8220;expertise and resources&#8221;<\/a><\/strong>. If companies like Transnet or Eskom were to default on their debt, it would have catastrophic consequences for the South African economy. [Mail &amp; Guardian]<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/af.reuters.com\/article\/southAfricaNews\/idAFL8N1TP08Q\">Despite the weaker rand, economists believe that a rate hike for South Africa is unlikely to happen in 2018.<\/a><\/strong> South Africa&#8217;s currency has lost 9% against the dollar, year-to-date, in the wake of crashing sentiment around EMs, and poor local data. Economists believe, however, that the rate will stick at 6.5% until 2020. [Reuters]<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-06-24\/foreign-bond-flight-sparks-s-african-warning-on-amplification\">Foreign investment in South Africa has dropped to its lowest levels in 2 years, new JSE data shows.<\/a><\/strong> While investors plied into SA in the wake of Cyril Ramaphosa taking up the presidency in March, a general sell-off in emerging markets has seen those figures slump. Net foreign investment was at R56.5 billion in May. [Bloomberg]<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"http:\/\/ewn.co.za\/2018\/06\/26\/joburg-residents-to-be-forced-to-recycle-as-landfill-site-nears-capacity\">Joburg&#8217;s landfills are reaching capacity, as 2,500 tonnes of rubbish gets dumped each day. At current rates, it will take just 3 years to hit the limit.<\/a><\/strong> From 1 July, Joburg residents will be compelled to start separating their trash in a bid to get up to 30% of trash recycled (from 10% at the moment). [EWN]<\/li>\n<\/ul>\n<ul>\n<li>South Africa\u2019s rand retreated by more than one percent on Monday, while shares also wilted over resurfacing worries of a global trade war dented demand for riskier emerging markets. <strong><a href=\"https:\/\/xe.com\/currencyconverter\/convert\/?Amount=1&amp;From=USD&amp;To=ZAR\">On Tuesday the rand was at R13.52 to the dollar, R17.96 to the pound and R15.83 to the euro.<\/a><\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>BASA members are ready and willing to help SA&#8217;s crumbling SOEs; likely no rate hikes in 2018, say economists; foreign investment in SA plummets; and Joburg residents need to get recycling as landfills start hitting their limits.<\/p>\n","protected":false},"author":10,"featured_media":176465,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,11121],"tags":[26],"class_list":["post-254141","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\/254141","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=254141"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/254141\/revisions"}],"predecessor-version":[{"id":254169,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/254141\/revisions\/254169"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/176465"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=254141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=254141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=254141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}