{"id":840343,"date":"2025-10-20T08:07:50","date_gmt":"2025-10-20T06:07:50","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=840343"},"modified":"2025-10-20T08:07:56","modified_gmt":"2025-10-20T06:07:56","slug":"severe-storm-warning-and-ramaphosa-admits-to-expropriation-act-defects","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/840343\/severe-storm-warning-and-ramaphosa-admits-to-expropriation-act-defects\/","title":{"rendered":"Severe storm warning, and Ramaphosa admits to Expropriation Act defects"},"content":{"rendered":"\n<p>Local markets ended last week in weaker territory, with the rand running cooler against the dollar amid global volatility.<\/p>\n\n\n\n<p>The driving narrative was renewed trade jitters between the United States and China, while investor attention shifted towards a domestic inflation print due this week.<\/p>\n\n\n\n<p>Friday closed at R17.38 against the dollar, 0.2% weaker than Thursday&#8217;s close, and in line with most emerging market peers. On Monday, it started early trade slightly stronger at R17.34\/$.<\/p>\n\n\n\n<p>The dollar was roughly up 0.3% against a basket of currencies while most commodities retreated on Friday, pressured by the firmer dollar and US President Donald Trump&#8217;s comment that a &#8220;full-scale&#8221; tariff on China would be unsustainable.<\/p>\n\n\n\n<p>On the Johannesburg Stock Exchange, the Top-40 index was last down more than 2%, paring some of its recent gains.<\/p>\n\n\n\n<p>Shares in major&nbsp;South&nbsp;African miners such as Sibanye Stillwater, Harmony Gold and Valterra Platinum fell about 9%, while Impala Platinum, Northam Platinum and Gold Fields were roughly down 6%.<\/p>\n\n\n\n<p>Domestically-focused investors will look to the release of September consumer price inflation data this week for clues on the health of the local economy.<\/p>\n\n\n\n<p>Headline consumer inflation surprised by falling to 3.3% year-on-year in August from 3.5% in July.<\/p>\n\n\n\n<p>Investec economists said in a research note that they expect inflation to remain unchanged, citing limited upside inflationary pressure, while economists polled by Reuters forecast a rise to 3.5%.<\/p>\n\n\n\n<p>On Monday the rand was trading at R17.34 to the dollar, R23.30 to the pound and R20.24 to the euro. Gold is trading at $4,253 an ounce, while oil prices are slightly higher at $61.04 a barrel.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">5 important things happening in South Africa today<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/10\/SAWS-weather.jpeg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"554\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/10\/SAWS-weather-1024x554.jpeg\" alt=\"\" class=\"wp-image-840344\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/10\/SAWS-weather-1024x554.jpeg 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/10\/SAWS-weather-300x162.jpeg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/10\/SAWS-weather-768x416.jpeg 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/10\/SAWS-weather.jpeg 1210w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Severe storm warning: <\/strong>The South African Weather Service has issued level 2 and 4 warnings across the central and eastern parts of the country. The warnings stretch across the entire eastern half of the country, with severe thunderstorms expected in central areas, including Gauteng. South Africans should expect persistent rain and localised flooding and take the necessary precautions. [<a href=\"https:\/\/www.enca.com\/news-top-stories-weather\/sa-braces-rainy-weather\"><strong>ENCA<\/strong><\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Expropriation Act unconstitutional: <\/strong>President Cyril Ramaphosa has admitted, under oath, that parts of the Expropriation Act that he signed into law in December 2024 are unconstitutional. He has asked the courts to &#8220;read in&#8221; amendments to correct them. However, opponents who have challenged the laws in court want the entire Act declared unconstitutional and sent back to Parliament to be processed. [<a href=\"https:\/\/businesstech.co.za\/news\/government\/840330\/cyril-ramaphosa-admits-expropriation-act-is-unconstitutional\/\"><strong>BusinessTech<\/strong><\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>South Africa&#8217;s new energy plan:<\/strong> The energy department has announced details of the country&#8217;s new integrated resource plan (IRP), which outlines the energy mix South Africa will pursue. The ambitious plan promises 105,000MW of new generation capacity by 2039, reflecting an investment of R2.2 trillion. It envisions a massive reduction in coal energy to 27% of the mix, with wind rising to 24%, solar to 18% and gas to 11%. Nuclear energy is expected to increase to 5%. [<a href=\"https:\/\/www.news24.com\/business\/climate-future\/energy\/sa-goes-for-gas-nuclear-ramokgopa-announces-big-changes-to-power-mix-20251019-0760\"><strong>News24<\/strong><\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Electricity price changes coming: <\/strong>Electricity and energy minister Kgosientsho Ramokgopa has read Eskom the riot act over its electricity price increases, emphasising that the era of double-digit hikes is over. The minister said that the department has found a &#8220;path forward&#8221; with pricing, hoping to tie any future increases to inflation. Eskom electricity prices have increased by 937% since 2007, while inflation over the same period was 155%.\u00a0[<a href=\"https:\/\/mybroadband.co.za\/news\/energy\/614502-electricity-and-energy-minister-read-eskom-the-riot-act-on-electricity-prices.html\"><strong>MyBroadband<\/strong><\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>ANC in big financial trouble: <\/strong>The ANC is once again under scrutiny for its controversial multi-million-rand debt settlement with Ezulweni Investments, a debt that the ANC is struggling to repay. The case stems from Ezulweni Investments\u2019 application for the ANC to pay R102.5 million, plus interest and costs, for supplying and installing campaign banners during the 2019 election. [<a href=\"https:\/\/newsday.co.za\/south-africa\/7405\/anc-in-serious-financial-trouble\/\"><strong>Newsday<\/strong><\/a>]<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Here are five important things happening in South Africa today, Monday, 20 October 2025.<\/p>\n","protected":false},"author":10,"featured_media":829872,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20398],"tags":[1875,1808,1164,12501,16914],"class_list":["post-840343","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5-things","tag-anc","tag-electricity","tag-eskom","tag-ramaphosa","tag-saws"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/840343","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=840343"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/840343\/revisions"}],"predecessor-version":[{"id":840345,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/840343\/revisions\/840345"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/829872"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=840343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=840343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=840343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}