November 24, 2022
  • November 24, 2022

5 important things happening in South Africa today

By on July 11, 2022 0

Here is what is happening and affecting South Africa today:

  • Disorders: Business Unity South Africa has warned the country is set to see a repeat of its July 2021 unrest as it continues to face political unrest, high unemployment rates and growing concern over the inability of forces order to bring about meaningful arrests of the culprits. responsible for the original violence. [BusinessDay]

  • Price increases: The National Taxi Alliance (NTA) has called for government intervention to help soften the blow for commuters and taxi owners following a series of steep price hikes. The call for action comes after the taxi industry plans to raise fares by 25-30% due to rising fuel prices. [EWN]

  • Flight prices: Prices for flights between Johannesburg and Cape Town soared to R6,000 for a return ticket following the collapse of Comair, which accounted for up to 40% of supply in the market. Along with the supply crisis, where the number of seats on the roads is falling by around 9,000 a week, business travel also appears to have rebounded somewhat, with fewer seats available for everyone. [Moneyweb]

  • Accused: Parliament will this week begin its first-ever impeachment inquiry into suspended public protector Busisiwe Mkhwebane. Although the public protector’s office has ended all legal challenges against Mkhwebane related to this investigation, it will still fund his legal defense. [eNCA]

  • Markets: The rand weakened to a 20-month low last week as the resilience of the local currency is tested by fears of a US recession. Lower oil prices are helping to dampen inflation, but they are also draining dollar liquidity globally, boosting the greenback and weighing on emerging market currencies as financial conditions tighten and costs rise. funding increases. The rand is currently trading at R16.96/$, R17.21/€ and R20.33/£. The price of Brent crude oil is today at $106.5/barrel. [Bloomberg]