{"id":859633,"date":"2026-05-07T07:26:32","date_gmt":"2026-05-07T05:26:32","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=859633"},"modified":"2026-05-07T07:26:47","modified_gmt":"2026-05-07T05:26:47","slug":"eskoms-new-starting-salary-for-employees-and-bad-news-for-homeowners-in-johannesburg","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/859633\/eskoms-new-starting-salary-for-employees-and-bad-news-for-homeowners-in-johannesburg\/","title":{"rendered":"Eskom’s new starting salary for employees, and bad news for homeowners in Johannesburg"},"content":{"rendered":"\n

South African stocks, bonds, and the rand all strengthened in early trading on Wednesday after US President Donald Trump indicated a possible peace deal with Iran.<\/p>\n\n\n\n

This news lifted global risk appetite and boosted demand for emerging market assets. The rand was trading at 16.43 against the dollar, an increase of about 1.5% from Tuesday’s close.<\/p>\n\n\n\n

Trump stated that “great progress” had been made toward a comprehensive agreement with Iran and announced a pause in the operation to escort ships through the Strait of Hormuz.<\/p>\n\n\n\n

The US dollar was down approximately 0.3% against a basket of currencies, and oil prices fell below $110 per barrel in anticipation that supply from the Middle East could be restored. <\/p>\n\n\n\n

South Africa, being a net importer of petroleum products, is heavily influenced by fluctuations in global energy prices.<\/p>\n\n\n\n

Analysts noted that the risk is asymmetric at the moment, and the rand is vulnerable to further adverse developments that could negatively impact the country’s terms of trade and affect cross-border flows against the currency.<\/p>\n\n\n\n

On the Johannesburg Stock Exchange, the Top-40 index rose by 2.5%. South Africa’s benchmark 2035 government bond also saw an early trading uptick, with the yield decreasing by 14 basis points to 8.71%.<\/p>\n\n\n\n

On Thursday, 7 May, the rand was trading at R16.38 to the dollar, R22.28 to the pound, and R19.25 to the euro. Gold is trading lower at $4,698.19 an ounce, while oil prices were at $102 a barrel.<\/p>\n\n\n\n

5 important things happening in South Africa today<\/h2>\n\n\n\n
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Eskom’s minimum salary:<\/strong>\u00a0The lowest-paid unionised Eskom workers should be earning a starting salary of R19,768 per month or R237,216 per annum from July 2026, calculations by MyBroadband showed. [MyBroadband<\/a>]<\/p>\n\n\n\n

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Bad news for Joburg homeowners:\u00a0<\/strong>The City of Johannesburg (CoJ) plans to increase the water demand management levy for households by 65.6%, effective 1 July 2026. This levy for Joburg residents has increased by 194.5% over the past two years. [Moneyweb<\/a>]<\/p>\n\n\n\n

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Interest rates on a knife\u2019s edge:<\/strong>\u00a0Experts are divided over the path of interest rates in South Africa. Some are expecting the MPC to hold rates, while others expect a hike later this month. [BusinessTech<\/a>]<\/p>\n\n\n\n

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Big changes to BEE proposed:<\/strong>\u00a0The Democratic Alliance\u2019s (DA) proposed replacement of the Black Economic Empowerment (BEE) framework is heading to Parliament for its first reading on 7 May. [Daily Investor<\/a>]<\/p>\n\n\n\n

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South Africa’s richest city is insolvent:<\/strong>\u00a0Finance Minister Enoch Godongwana expressed concern that the City of Johannesburg is insolvent, with revenue collection below targets and an overexpenditure of R3.9 billion on employee costs, bulk electricity, inventory, and operational expenses. [Business Day<\/a>]<\/p>\n","protected":false},"excerpt":{"rendered":"

Here are five important things happening in and affecting South Africa on Thursday, 7 May 2026.<\/p>\n","protected":false},"author":92,"featured_media":859638,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-859633","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\/859633","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=859633"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/859633\/revisions"}],"predecessor-version":[{"id":859639,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/859633\/revisions\/859639"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/859638"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=859633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=859633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=859633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}