Flash Briefing: Eskom considers EVs; ANC employees on a “go-slow”; retirement savings policy changes

  • Eskom is considering buying a fleet of electrically powered light delivery vehicles, according to its CEO Andre de Ruyter. “We buy hundreds of light delivery vehicles every year and we would like to explore the opportunity to pivot the motor industry to electric vehicles by using our own demand for locally manufactured EVs to enable investment.” De Ruyter said that by acting as an “anchor market”, Eskom could help the country’s motor vehicle industry start moving from producing petrol and diesel cars and bakkies to electric ones. He did not provide further information on when Eskom would make a decision to obtain electric vehicles, how much they were expected to cost, or where it would source them from. The Eskom CEO noted that the National Association of Automobile Manufacturers of South Africa warned last year that the country’s motor industry could lose 80% of its exports by 2040, as countries announce timetables to prohibit the sale of petrol and diesel vehicles.
  • National Treasury says it is working through the nuts and bolts of the planned policy changes to allow the early withdrawal of retirement savings. It said the aim is to ensure the preservation of funds – so that most of the money saved for retirement is actually kept for retirement. South African households are already not saving enough, and giving too much freedom with the policy could be disastrous. Despite this, it acknowledged there are times when emergency funds are needed – but withdrawals have to be limited. Public services unions are unhappy about potentially being excluded from the policy.
  • The ANC runs the risk of failing to register its candidates to contest this year’s municipal elections by the August 23 IEC deadline, as staff refuse to work overtime and at weekends due to outstanding salaries and other benefits. Party employees countrywide remain on a “go-slow” in protest against not being paid, which means the ANC’s leaders face the risk of failing to submit the names of their preferred municipal councillor candidates for the elections scheduled for October 27. Febe Potgieter, the general manager at ANC headquarters Luthuli House, has written a desperate letter to disgruntled staff, pleading with them to suspend the go-slow, work extra hours and, this weekend, help the party meet the deadline. 
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