Here’s what is happening in and affecting South Africa today:
- Fuel concerns: The Department of Energy has raised concerns about the availability of jet fuel at the country’s airports after Sasol had to temporarily shutdown South Africa’s Natref refinery over the weekend. Sasol said that a crude tanker had since arrived in Durban and that Natref should be back up and running by the end of this month. [EWN]
- Electricity hikes: Stakeholders have raised concerns around a new methodology which will determine how electricity price hikes are calculated in South Africa. Critics say that the new methodology planned by energy regulator Nersa will increase the complexity in tariffs and metering dramatically. [Moneyweb]
- Strike action: The South African Revenue Service (SARS) faces prolonged strike action as no talks are planned to break the impasse between the revenue collector and workers. By Monday, the strike had resulted in close to 40 branches being closed across the country, with SARS warning that its phone lines face increased wait times during the busy income tax filing season. [BusinessDay]
- Public protector: Suspended public protector Busisiwe Mkhwebane faces increased pressure after an employee in her office claims she unlawfully instructed parliament to amend the South African Reserve Bank’s mandate. Mkhwebane is facing impeachment hearings after several allegations of impropriety while in office. [News24]
- Markets: South Africa’s rand steadied against the dollar on Monday, after the US currency fell to a more than 1-week low as traders pared bets on how aggressively the Federal Reserve would hike interest rates next week. The rand is currently trading at R17.14/$, R17.37/€ and R20.48/£. Brent crude is priced at $105.8/barrel. [Reuters]