{"id":867029,"date":"2026-07-22T07:42:39","date_gmt":"2026-07-22T05:42:39","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=867029"},"modified":"2026-07-22T07:42:39","modified_gmt":"2026-07-22T05:42:39","slug":"two-major-south-african-cities-have-unlawful-electricity-charges-and-gayton-mckenzie-in-hot-water","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/867029\/two-major-south-african-cities-have-unlawful-electricity-charges-and-gayton-mckenzie-in-hot-water\/","title":{"rendered":"Two major South African cities have unlawful electricity charges, and Gayton McKenzie in hot water"},"content":{"rendered":"\n

The rand stayed firm on Tuesday as global markets assessed the impact of the restart of the conflict in Iran.<\/p>\n\n\n\n

Oil prices have continued to rise due to the conflict, but future prices fell by about 0.5% from the previous close.<\/p>\n\n\n\n

The drop in oil futures comes as global markets are hopeful about mediation efforts taking place between the US and Iran.<\/p>\n\n\n\n

The rand has held its value against the dollar, trading at 16.45, a slight improvement from its previous close of 16.54.<\/p>\n\n\n\n

The uncertainty around oil prices and international conflicts continues to limit how much the rand can benefit from a weaker dollar.<\/p>\n\n\n\n

The market’s attention today will shift to the announcement of the June CPI data, which is expected to show a rise to roughly 4.7%, a 0.2% increase from May.<\/p>\n\n\n\n

South Africans will also be waiting for the Monetary Policy Committee\u2019s announcement of interest rate adjustments on Thursday.<\/p>\n\n\n\n

Economists have mixed predictions about this announcement, with some expecting a 25-basis-point interest rate rise.<\/p>\n\n\n\n

This would increase the monetary policy rate to 7.25%, but some experts have said the Reserve Bank might decide to hold the current rates.<\/p>\n\n\n\n

On Wednesday, 22 July 2026, the rand was trading at R16.45 to the dollar, R22.02 to the pound, and R18.77 to the euro. Gold is trading at $4,128.74 an ounce, while oil prices were at $92.30 a barrel.<\/p>\n\n\n\n

5 important things happening today<\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n

Two of South Africa\u2019s biggest cities have unlawful electricity tariffs: <\/strong>The City of Joburg and City of Ekurhuleni are among four municipalities that charged customers unlawful tariffs in the 2024\/25 financial year. [MyBroadband<\/a>]<\/p>\n\n\n\n

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Gayton McKenzie under siege over R31 million World Cup trip:<\/strong> Gayton McKenzie has come under fire for South Africa’s FIFA World Cup delegation costing R31 million, which could have been used elsewhere. [Newsday<\/a>]<\/p>\n\n\n\n

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One of South Africa\u2019s biggest employers can lose 8,200 jobs:<\/strong> The global transition to new energy vehicles could place an estimated 8,200 South African jobs at risk if the right policies and investments are not made. [DailyInvestor<\/a>]<\/p>\n\n\n\n

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PIC crisis deepens as six directors join board exodus in a week:<\/strong> Internal conflict in the Public Investment Corporation has led to more senior resignations, following the suspension of its CEO. [BusinessDay<\/a>]<\/p>\n\n\n\n

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Finance Minister confident City Of Joburg will turn things around: <\/strong>South Africa’s Finance Minister, Enoch Godongwana, met with representatives of the City Of Joburg to discuss the final notice issued to the city. [EWN<\/a>]<\/p>\n\n\n\n

\n","protected":false},"excerpt":{"rendered":"

Here are the 5 things happening in and affecting South Africa on Wednesday, 22 July.<\/p>\n","protected":false},"author":131,"featured_media":742431,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"posted","_sma_x_autopost_error":"","_sma_x_post_id":"2079804398495044046","_sma_x_attempts":1,"footnotes":""},"categories":[20398],"tags":[20284,17448,21114,1996,18450,3670],"class_list":["post-867029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5-things","tag-ekurhuleni","tag-enoch-godongwana","tag-gayton-mckenzie","tag-johannesburg","tag-oil-price","tag-rand"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/867029","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\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=867029"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/867029\/revisions"}],"predecessor-version":[{"id":867039,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/867029\/revisions\/867039"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/742431"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=867029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=867029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=867029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}