{"id":732457,"date":"2023-11-21T07:49:40","date_gmt":"2023-11-21T05:49:40","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=732457"},"modified":"2023-11-21T07:49:40","modified_gmt":"2023-11-21T05:49:40","slug":"5-important-things-happening-in-south-africa-today-1656","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/government\/732457\/5-important-things-happening-in-south-africa-today-1656\/","title":{"rendered":"5 important things happening in South Africa today"},"content":{"rendered":"\n<p>Here\u2019s what is happening in and affecting South Africa today:<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Government tax evaders:<\/strong>\u00a0The SA Revenue Service (SARS) has noted an increasing level of indebtedness by government departments, which is of growing concern. While the vast majority of the 5,303 entities paid their debts on time, 404 entities owe SARS R5.9 billion for the 2023\/24 fiscal year. Finance Minister Enoch Godongwana said it&#8217;s not right for SOEs not to pay the tax office, which generates the revenue that enables them to exist. [<a rel=\"noreferrer noopener\" href=\"https:\/\/www.businesslive.co.za\/bd\/national\/2023-11-20-godongwana-says-government-entities-owe-sars-r6bn\/\" target=\"_blank\">Business Day<\/a>]<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Blame the private sector:<\/strong>\u00a0Minister in the Presidency Khumbudzo Ntshavheni said that the performance of the rand and sometimes the performance of the economy has been manipulated by the private sector, which has no interest in the development of this country. \u201cThey continue to engineer and do machinations to make sure that the government collapses\u201d. Ntshavheni made these comments in light of Standard Chartered Bank being fined R43 million for manipulating the value of the rand against the US dollar. [<a rel=\"noreferrer noopener\" href=\"https:\/\/dailyinvestor.com\/south-africa\/38310\/private-sector-wants-to-collapse-south-africa-minister\/\" target=\"_blank\">Daily Investor<\/a>]<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>VIPs are what matter:<\/strong>\u00a0Amid the debate of across-the-board austerity measures to rein in Government spending, confirmation that the National Prosecuting Authority is suffering the consequences of budget cuts while the VIP Protection Unit\u2019s budget has been increased brings the Ramaphosa administration\u2019s priorities into question. The cuts mean the NPA will not have money to pay prosecutors for overtime, nor can it afford to hire new prosecutors. [<a rel=\"noreferrer noopener\" href=\"https:\/\/www.dailymaverick.co.za\/article\/2023-11-21-the-sa-governments-priority-is-clear-vip-protection-matters-more-than-the-npa\/\" target=\"_blank\">Daily Maverick<\/a>]<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Water infrastructure critical:<\/strong>&nbsp;Astral Foods, SA&#8217;s biggest poultry producer, has secured a water licence to pump its own water due to the collapsing local infrastructure of the Lekwa municipality in Mpumalanga. The move will cost up to R100 million. The group warns that SA&#8217;s water infrastructure is in a dire state, and it is likely to be SA&#8217;s next big challenge, similar to the electricity crisis. [<a rel=\"noreferrer noopener\" href=\"https:\/\/www.news24.com\/fin24\/companies\/water-is-sas-next-crisis-warns-poultry-producer-astral-as-it-gets-direct-supply-from-vaal-20231121\" target=\"_blank\">News24<\/a>]<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Markets:&nbsp;<\/strong>South Africa&#8217;s rand weakened on Monday, with investors looking ahead to inflation data and the central bank&#8217;s interest rate decision due later in the week. Local focus will be on inflation figures due on Wednesday and an interest rate decision by the South African Reserve Bank on Thursday as markets look for fresh guidance. On Tuesday (21 November), the rand was trading at R18.28 to the dollar, R22.91 to the pound and R20.04 to the euro. Oil is trading at $81.95 a barrel. [<a rel=\"noreferrer noopener\" href=\"https:\/\/www.reuters.com\/markets\/south-african-rand-climbs-with-cpi-rate-decision-due-this-week-2023-11-20\/\" target=\"_blank\">Reuters<\/a>]<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SARS rings alarm bells over debt owed by government SOEs; Private sector wants to collapse South Africa; VIP protection matters more than the NPA; and Water is SA&#8217;s next crisis.<\/p>\n","protected":false},"author":10,"featured_media":701151,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[853],"class_list":["post-732457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-government","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/732457","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=732457"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/732457\/revisions"}],"predecessor-version":[{"id":732475,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/732457\/revisions\/732475"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/701151"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=732457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=732457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=732457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}