This week’s update focuses on significant events in South Africa. From government and business collaboration to the relocation of the BRICS summit and concerns raised by e-hailing drivers, we’ll bring you the latest national developments.
Here are five important things happening in South Africa today:
Business and government collaboration: President Cyril Ramaphosa is establishing crisis committees with executives from major companies to address issues such as the energy crisis, ineffective ports, and widespread crime.
This partnership aims to build on the success of the Covid-19 response, where the public and private sectors worked together for a nationwide vaccine rollout.
BRICS summit relocation: The upcoming BRICS summit is expected to be moved to China, according to the Department of International Relations and Cooperation.
The decision is believed to have been made due to minimal costs incurred by the government for the event. A legal opinion also suggested that it would be best if Russian leader Vladimir Putin does not attend.
Challenges faced by e-hailing drivers: E-hailing drivers are raising concerns about the government’s failure to regulate the transport sector, particularly following violent altercations with taxi operators at Soweto malls.
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Drivers argue that the government allowed companies like Uber and Bolt to enter the market without adequate pricing regulations, leading to disruptions and the presence of illegal operators.
Zuma’s private prosecution set aside: The High Court in Pietermaritzburg has ruled in favor of state prosecutor Billy Downer and legal journalist Karyn Maughan, setting aside former President Jacob Zuma’s private prosecution against them.
Zuma accused Downer of leaking confidential medical information to Maughan, but the court deemed the private prosecution to be an abuse of the legal process and ordered Zuma to pay all legal costs for the defendants.
Market updates: The South African rand dropped below R19.00 for the first time since mid-May, influenced by reduced levels of load shedding and a weaker dollar.
Analysts suggest that the rand’s larger pullback compared to other emerging currencies may be due to it being undervalued relative to its peers, potentially warranting a rebalancing. Meanwhile, Brent crude is trading at $76.62 per barrel. – Business Tech