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Briefs

Latest news and views in Brief

SA granting diplomatic immunity to BRICS attendees – Still legally obliged to arrest Putin

30th May 202330th May 2023

South Africa said it will provide diplomatic immunity to attendees of two meetings of officials from the BRICS group of countries — a practice the government said is routine.

loadshedding

Cape Town breaks solar power records amidst electricity crisis

30th May 202330th May 2023

The country’s severe electricity shortage has resulted in Cape Town seeing a surge in applications for solar power installations.

SA faces threat of sanctions over Russia-Ukraine stance: Consequences could prove catastrophic Reserve Bank warns

29th May 2023

Following the ANC government’s reaffirmed stance of non-alignment on Russia’s invasion of Ukraine, South Africa’s central bank has issued a stern warning about the potential ramifications of sanctions.

PIC and ex-Telkom CEO join forces for possible Telkom bid

29th May 2023

Africa’s largest asset manager, the PIC is backing a possible bid led by the former chief executive of Telkom Ltd for a 35% stake in the telecoms giant.

BRICS: From investment slogan to global power club — Iran, Saudi Arabia, and 17 others now want in

29th May 2023

The BRICS group of emerging markets — Brazil, Russia, India and China, with South Africa added later — has gone from a slogan dreamed up at an investment bank to a real-world club that also controls a major development bank.

Ramaphosa transfers powers to Electricity Minister to address energy crisis

26th May 2023

South African President Cyril Ramaphosa allocated a range of powers to his electricity minister to help address the nation’s energy crisis, almost three months after appointing him.

Presidency Press Release: Ramaphosa transfers Electricity Regulation Act powers to Ramokgopa

26th May 202326th May 2023

President Cyril Ramaphosa has signed a proclamation transferring certain powers and functions related to the Electricity Regulation Act (Act No 4 of 2006) to the newly appointed Minister of Electricity, Dr Kgosientsho Ramokgopa.

SARB denies South Africans relief with rate hike as weak rand, government failures fuel inflation

26th May 202326th May 2023

South Africa’s central bank is reluctant to pivot away from policy tightening after raising its benchmark interest rate into restrictive territory amid rand weakness and government missteps that continue to fuel inflation.

SA raises rates to highest since 2009; Rand slumps to record lows

25th May 2023

South Africa’s central bank raised rates to the highest level in 14 years to rein in inflation expectations in an economy that’s expected to barely grow this year.

SA government prepares for legal fight over Karpowership power plants

22nd May 202322nd May 2023

South Africa is prepared for legal fights with environmental groups over the government’s plans to use ship-mounted power plants to resolve the nation’s blackout crisis.

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