{"id":757323,"date":"2024-03-05T08:03:22","date_gmt":"2024-03-05T06:03:22","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=757323"},"modified":"2024-08-19T16:59:03","modified_gmt":"2024-08-19T14:59:03","slug":"5-important-things-happening-in-south-africa-today-1723","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/757323\/5-important-things-happening-in-south-africa-today-1723\/","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>Sasfin&#8217;s legal woes could spread to other banks:&nbsp;<\/strong>SARS is suing Sasfin Bank for allegedly facilitating untaxed offshore payments with fake documents. The claim covers over half of Sasfin&#8217;s balance sheet and involves 19 companies, primarily linked to a tobacco mogul. Some of these companies had accounts with other South African banks, which may lead to further legal action. [<a href=\"https:\/\/amabhungane.org\/sasfins-existential-can-of-worms-and-the-risk-to-other-banks\/stories\/\" data-type=\"link\" data-id=\"https:\/\/amabhungane.org\/sasfins-existential-can-of-worms-and-the-risk-to-other-banks\/stories\/\" target=\"_blank\" rel=\"noreferrer noopener\">amaBhungane<\/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>X snubs Competition Commission:<\/strong>&nbsp;X Corp has refused to take part in a public inquiry by South Africa&#8217;s competition authorities into how digital channels (like X, Facebook and Google) are affecting traditional media platforms and advertising revenues. X was one of 50 stakeholders invited by the Competition Commission but declined to participate, citing legal reasons. [<a href=\"https:\/\/www.businesslive.co.za\/bd\/companies\/telecoms-and-technology\/2024-03-04-x-snubs-sas-media-competition-inquiry\/\" data-type=\"link\" data-id=\"https:\/\/www.businesslive.co.za\/bd\/companies\/telecoms-and-technology\/2024-03-04-x-snubs-sas-media-competition-inquiry\/\">BusinessDay<\/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>SAA sale secrets may be disclosed this week:<\/strong>&nbsp;The sale of South African Airways (SAA) for R51 to the Takatso Consortium is being kept secret by Public Enterprises Minister Pravin Gordhan. The details may be revealed in a parliamentary meeting on Wednesday, depending on legal advice and the relevance of the documents provided. [<a href=\"https:\/\/www.moneyweb.co.za\/news\/companies-and-deals\/saa-secrets-could-be-revealed-this-week\/\" data-type=\"link\" data-id=\"https:\/\/www.moneyweb.co.za\/news\/companies-and-deals\/saa-secrets-could-be-revealed-this-week\/\" target=\"_blank\" rel=\"noreferrer noopener\">Moneyweb<\/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>South Africa\u2019s debt troubles: <\/strong>The South African government is projected to have a deficit of R347 billion this year, leading to around R500 billion in new debt issuance to finance the deficit and refinance maturing debt. Although running a budget deficit is not a bad thing in itself, consistent deficits could result in a debt spiral where new debt is issued to cover existing debt. [<a href=\"https:\/\/dailyinvestor.com\/finance\/45439\/from-budget-surplus-to-debt-spiral-south-africas-rapid-financial-decline\/\" data-type=\"link\" data-id=\"https:\/\/dailyinvestor.com\/finance\/45439\/from-budget-surplus-to-debt-spiral-south-africas-rapid-financial-decline\/\" target=\"_blank\" rel=\"noreferrer noopener\">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>Markets:<\/strong> South Africa&#8217;s rand firmed slightly on Monday, ahead of GDP figures and a whole-economy purchasing managers&#8217; index (PMI) survey.&nbsp;On Tuesday (5 March), the rand was trading at R19.07 to the dollar, R24.09 to the pound, and R20.70 to the euro. Oil is trading at $82.60 a barrel. [<a href=\"https:\/\/www.reuters.com\/markets\/currencies\/south-african-rand-unchanged-early-trade-2024-03-04\/#:~:text=JOHANNESBURG%2C%20March%204%20(Reuters),its%20closing%20level%20on%20Friday.\" data-type=\"link\" data-id=\"https:\/\/www.reuters.com\/markets\/currencies\/south-african-rand-unchanged-early-trade-2024-03-04\/#:~:text=JOHANNESBURG%2C%20March%204%20(Reuters),its%20closing%20level%20on%20Friday.\" target=\"_blank\" rel=\"noreferrer noopener\">Reuters<\/a>]<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SARS&#8217; case against Sasfin could spread; X snubs Competition Commission; SAA sale secrets may be disclosed; SA&#8217;s debt woes.<\/p>\n","protected":false},"author":101,"featured_media":757379,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20398],"tags":[18993],"class_list":["post-757323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5-things","tag-5-important-things-happening-in-south-africa-today"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/757323","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\/101"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=757323"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/757323\/revisions"}],"predecessor-version":[{"id":757383,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/757323\/revisions\/757383"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/757379"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=757323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=757323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=757323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}