5 important things happening in South Africa today

5 important things happening in South Africa today

Here’s what’s going on in South Africa right now, and how it’s affecting the country:

Covid: There have been 300 new instances of Covid-19 in South Africa, bringing the total to 2,919,632. Passings have increased to 88,925 (+11), while recoveries have increased to 2,811,439, leaving the country with a dynamic case balance of 19,268. The total number of antibodies successfully produced is 21,321,996 (+21,898).

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  • Manipulation: According to a News24 investigation, former Eskom CEO Matshela Koko’s reporting systems may have incentivized managers to under-report problems during his tenure in order to artificially inflate system performance, all to the detriment of the grid and possibly exacerbating the power utility’s current problems. The system, according to the report, rewarded managers for hitting generation objectives and penalized them with suspension without pay if they did not. Data before and during Koko’s tenure and under the system demonstrates that reported data is contradictory with data before and after this era. The charges were refuted by Koko.
  • Petrol problem: Economists generally believe that gasoline prices will continue to rise in the future. current record highs – and that the South African Reserve Bank is likely to hike interest rates at every monetary policy committee meeting next year.The rising price of oil is putting a lot of pressure on local markets in terms of inflation., and current trends could see CPI push past 6%. In November, petrol prices are projected to rise by roughly R1 per litre, according to experts., and economists say that R20 per litre may be a reality very soon. Fuel has already climbed by 20% this year, and higher transport costs are expected to drive near-term inflation even further.
  • Election Map: The Mail & Guardian has created an electoral map that depicts the ruling or coalition parties across the country’s municipalities in 2021. Major metros such as Joburg, Tshwane, and Nelson Mandela Bay have emerged as significant battlegrounds for political parties, according to the maps. Surprisingly, the Western Cape, which has historically been a stronghold for the Democratic Alliance, is also in the focus. Many political observers feel the party is losing its stranglehold on the province’s municipalities. Regions of KwaZulu Natal, where the IFP is likely to make headway against the ANC, are also worth watching.
  • Anti-vax: As South Africa works to vaccinate as many people as possible before the end of the year festive season, all signs point to the country falling short of its vaccine target of 70% of the population by Christmas. However, considering how vaccine hesitancy and anti-vaccination ideology has become a successful political tool for those seeking to throw questions and aspersions on leaders and institutions, observers say that this conclusion should not be surprising. People’s mistrust of the government is being utilized for self-serving objectives by political parties and individuals who attempt to use vaccines and vaccine mandates as springboards.
  • Markets: By the end of the week, the South African rand was trading around R14.80 against the US dollar, having touched its highest level since September earlier in the week, aided by increasing commodity prices and broad-based dollar weakening. The rand weakened on Friday as the excitement around Chinese developer Evergrande’s last-minute interest payment gave way to caution. Investor mood shifted from risk-on to risk-off as the dollar rose versus a basket of currencies. The rand was trading at R14.79 per dollar, R17.24 per euro, and R20.38 per pound on Monday.

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