{"id":280581,"date":"2018-10-30T08:26:59","date_gmt":"2018-10-30T06:26:59","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=280581"},"modified":"2018-10-30T08:26:59","modified_gmt":"2018-10-30T06:26:59","slug":"5-important-things-happening-in-south-africa-today-420","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/280581\/5-important-things-happening-in-south-africa-today-420\/","title":{"rendered":"5 important things happening in South Africa today"},"content":{"rendered":"<p>Here&#8217;s what is happening in and affecting South Africa:<\/p>\n<ul>\n<li><strong><a href=\"https:\/\/af.reuters.com\/article\/africaTech\/idAFL8N1X95IC\">The South African Reserve Bank is laying the way for a rates hike, saying that with inflation uncomfortably close to the upper-limit of its set range, it may be left with no choice.<\/a><\/strong>\u00a0Its forecasting model indicates higher lending rates in the next two years, rising to 7.7% by the end of 2020 to stem inflation. [Reuters]<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/www.enca.com\/news\/sabc-cut-hundreds-jobs\">The SABC is looking to cut about 1,000 permanent jobs and 1,200 freelancers, which will save the company around R440 million<\/a><\/strong>. All employees at all levels will be affected. The group is also trying to recover money irregularly paid out as salaries. [ENCA]<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/www.dailymaverick.co.za\/article\/2018-10-29-cities-to-face-r569bn-funding-gap-in-10-years-unless-finances-are-fixed\/\">South Africa&#8217;s cities are in big trouble if they don&#8217;t rework their financial models a new report shows<\/a><\/strong>, claiming that the capital expenditure funding gap for the country\u2019s nine largest cities will increase from R18 billion in 2017 to R569-billion over the next 10 years if things don&#8217;t change. [Daily Maverick]<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/ewn.co.za\/2018\/10\/30\/anc-launches-internal-probe-into-r2-million-vbs-donation\">The ANC says it will launch an investigation into a reported R2 million that it is alleged to have received from individuals implicated in the VBS looting saga.<\/a><\/strong> The party said it is only aware of R250,000 it had received as a donation from the group implicated. [EWN]<\/li>\n<\/ul>\n<ul>\n<li>South Africa\u2019s rand firmed on Monday, in line with other emerging market currencies, which have slowly restored gains after recent sharp losses. <strong><a href=\"https:\/\/www.xe.com\/currencyconverter\/convert\/?Amount=1&amp;From=USD&amp;To=ZAR\">On Tuesday the rand was trading at R14.64 to the dollar, R18.74 to the pound and R16.66 to the euro.<\/a><\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>SARB says South Africans should get ready for rate hikes in the future; the SABC is looking to cut 1,000 jobs that are draining the group of cash; SA cities will find themselves in huge financial trouble if they don&#8217;t change their finance models soon; and the ANC will probe the R2 million it allegedly received from the VBS heist.<\/p>\n","protected":false},"author":10,"featured_media":118672,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,11121],"tags":[26],"class_list":["post-280581","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\/280581","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=280581"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/280581\/revisions"}],"predecessor-version":[{"id":280595,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/280581\/revisions\/280595"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/118672"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=280581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=280581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=280581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}