{"id":831176,"date":"2025-07-11T07:58:44","date_gmt":"2025-07-11T05:58:44","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=831176"},"modified":"2025-07-11T07:58:44","modified_gmt":"2025-07-11T05:58:44","slug":"south-africas-r4-1-trillion-own-goal-and-eskom-plans-the-end-of-load-shedding","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/831176\/south-africas-r4-1-trillion-own-goal-and-eskom-plans-the-end-of-load-shedding\/","title":{"rendered":"South Africa’s R4.1 trillion own goal, and Eskom plans the end of load shedding"},"content":{"rendered":"\n

The rand maintained<\/a> its early gains after better-than-expected manufacturing data was released. Investors were closely monitoring trade negotiations following U.S. President Donald Trump’s recent tariff threats. <\/p>\n\n\n\n

The rand was trading at 17.74 against the dollar, representing an increase of approximately 0.6% from Wednesday’s closing value, and it remained at that level for much of the day. <\/p>\n\n\n\n

South Africa’s manufacturing output rose by 0.5% year-on-year in May. However, analysts pointed out that while the monthly data showed some improvement, the underlying economic conditions remain weak. <\/p>\n\n\n\n

Additionally, the JSE’s Top-40 index increased by 0.1%, buoyed by stronger commodity prices that benefited mining companies listed on the exchange.<\/p>\n\n\n\n

On Friday, 11 July, the rand was trading at R17.75 to the dollar, R24.07 to the pound and R20.73 to the euro. Oil was trading slightly lower at $68.71 a barrel.<\/p>\n\n\n\n

Here are five other important things happening in and affecting South Africa today:<\/p>\n\n\n\n

\n\n\n\n

R4.1 trillion own goal:\u00a0<\/strong>South Africa has experienced poor economic growth since 2010, averaging less than 1% due to the collapse of state-owned enterprises, corruption, and policy uncertainty, while its emerging market peers grew an average of 4.5%. If South Africa had matched this average, its economy would be R4.1 trillion larger today. [Daily Investor<\/a><\/strong>]<\/p>\n\n\n\n

\n\n\n\n

Plan for the end of load shedding:<\/strong>\u00a0Eskom plans to eliminate load shedding by boosting its energy availability factor (EAF) to over 70% by the end of the financial year. Ramokgopa said this year, the EAF had surpassed 60%, and the return of Medupi unit four will add 800 MW to the grid. New renewable energy and battery storage initiatives will also be launched, focusing on localisation and better oversight. [Business Day<\/a><\/strong>]<\/p>\n\n\n\n

\n\n\n\n

Major car brand’s South African factory plans:<\/strong>\u00a0Chinese car giant Chery is exploring the possibility of establishing an assembly plant in South Africa, as the brand continues its rapid expansion in the local market.\u00a0[BusinessTech<\/a><\/strong><\/strong>]<\/p>\n\n\n\n

\n\n\n\n

Blow to Cell C:\u00a0<\/strong>The Advertising Regulatory Board (ARB) has ruled that Cell C\u2019s network claims \u201cexploit consumer knowledge and trust\u201d and \u201cdeceive consumers\u201d. This ruling came after MTN complained that Cell C\u2019s marketing campaign stated, \u201cNow on SA\u2019s Best Network\u201d. [MyBroadband<\/a><\/strong>]<\/p>\n\n\n\n

\n\n\n\n

Ramaphosa address:<\/strong>\u00a0KwaZulu-Natal Police Commissioner Nhlanhla Mkhwanazi has accused high-ranking officials, including Police Minister Senzo Mchunu, of deep-rooted corruption and interference in investigations. Ramaphosa is set to address these allegations to the nation on Sunday night. [eNCA<\/a><\/strong>]<\/p>\n","protected":false},"excerpt":{"rendered":"

Here are five important things happening in South Africa on Friday, 11 July.<\/p>\n","protected":false},"author":92,"featured_media":823338,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-831176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5-things","tag-5-important-things-happening-in-south-africa-today","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/831176","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\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=831176"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/831176\/revisions"}],"predecessor-version":[{"id":831177,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/831176\/revisions\/831177"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/823338"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=831176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=831176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=831176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}