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  • 5 important things happening in South Africa today

    发布时间:2022-05-19 13:42:40首页:>yield farming token>>5 important things happening in South Africa today 阅读(73)

    Here’s what is happening in and affecting South Africa today:


    • SDR fraud:The Department of Social Development says it will implement a host of changes to avoid further R350 social distress relief grant fraud in the country. Thousands of government employees who had no business receiving the grant fraudulently benefitted from the system over the last year, costing the economy millions of rands. Minister Lindiwe Zulu said that the process is being handled electronically with beneficiaries checked against Home Affairs’ database, and also checked against details in the banking system to ensure that people legitimately qualify for the grant. [News24]

    • Illicit goods: New research from the British American Tobacco South Africa (Batsa) shows that criminals have flooded South Africa’s retail market with illicit tobacco. Despite the government lifting the ban on the sale of tobacco products in August 2020, this has done little to curb the illegal trades growth.  The general manager of Batsa noted that illicit tobacco sales are depriving the fiscus of more than R19 billion a year. [Moneyweb]

    • Back in service:One year after closing its operations in South Africa, Greyhound will return on 13 April. The group was forced to shut down in the country after the Covid-19 pandemic and the lockdown led to stoppages in travel. The company was put up for auction by former owner KAP Industrial. The new owners are a private investment entity, owned by a family trust, and have not been publicly named. The relaunch of the bus service is expected to create hundreds of jobs and boost the tourism sector. [TimesLive]

    • Deputy president: As the ANC’s leadership election in Mpumalanga led to debate regarding the political party’s “step-aside” resolution, the race for the deputy leadership of the party opened. It has been speculated that the long-term future of the ANC will rest on the election for the deputy president position rather than the leader of the ANC. Current deputy president David Mabuza lacks support in his home base of Mpumalanga. [Daily Maverick]

    • Markets: The South African rand strengthened slightly on Wednesday as investors awaited the minutes of the US central bank’s last monetary policy meeting due later in the day. According to economists, if the Ukraine Russia war were to calm down, commodity prices would drop and bring the rand down. The rand is currently trading at R14.69/$, R16.04/€ and R19.22/£. [Nasdaq]
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