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Uncertainty over South Africa’s budget vote led to a rand and bond slump. Lawmakers to vote on fiscal framework, with ANC seeking support from smaller parties. DA plans to oppose, risking coalition unity. Market concerns over government stability. Rand fell 1.3%. Treasury reassures government will function. Time for agreement, but market worries persist.
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SpaceX’s Starlink satellites expanding in Africa for improved connectivity. Facing resistance in some markets, South Africa’s MTN willing to collaborate. CEO Ralph Mupita talks about Low Earth Orbit satellites and Elon Musk’s claim of being blocked in South Africa. Interview with Bloomberg’s Jennifer Zabasajja.
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Police are ensuring a proper investigation into the rape of a seven-year-old in Matatiele, following nationwide demands for justice. The incident occurred in October 2024 at Bergview College. The mother has raised concerns on social media, prompting Police Minister Senzo Mchunu to promise a thorough investigation. DNA samples have been collected, and suspects, including the school principal, have been identified.
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ANC and IFP in GNU support fiscal framework report with ActionSA’s recommendation, key for 2025 Budget passage. ANC and DA divided, negotiations ongoing. ActionSA may assist ANC if talks fail. Beesley clarifies collaboration not GNU membership. Fiscal framework sets economic policy and spending limits. National Assembly to vote on Wednesday.
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Over 20 vehicles crash on N12 Westbound at Edenvale Road, causing injuries and traffic chaos. Two drivers sustain serious injuries, eight others minor injuries. Cause of crash unclear, investigation ongoing. Highway closed as emergency crews clear wreckage. Traffic disruptions expected to continue, delays likely.
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Sars Commissioner aims to recover R20-50 billion to boost fiscus. Growth areas: personal income tax (12.6%), corporate income tax (2.1%), VAT (2.3%). R301 billion recovered through compliance. Sars using tech like AI to combat criminality and non-compliance, safeguarding legitimate refunds and preventing fraud.
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Tshwane plans to build Africa’s largest automotive assembly precinct in Rosslyn, creating 150,000 jobs. The 7,157ha precinct will house major automotive assemblers like BMW and Nissan. The project, developed by the Automotive Industry Development Centre, aims to attract foreign and local investment over 40-50 years for economic growth and job creation.
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The Department of Petroleum and Mineral Resources announced fuel price adjustments for April 2, 2025. March’s global oil price decline due to US tariffs led to lower fuel prices, partially offset by tax hikes. Prices will drop by 58-72 cents per litre for petrol and 84-86 cents per litre for diesel. Factors include global oil prices and the rand/dollar exchange rate.
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ANC’s Fikile Mbalula criticizes AfriForum for representing a school principal accused of raping a seven-year-old pupil in the Eastern Cape. Mbalula condemns the act as a reflection of ongoing gender-based violence in society and calls for justice over racial or political considerations.
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A devastating earthquake in Myanmar has left bodies trapped under collapsed buildings, with over 2,700 dead and thousands injured. Rescue efforts continue as the death toll is expected to rise above 3,000. In Mandalay, 50 children and two teachers died when a preschool collapsed. Local aid groups are working to recover bodies from the rubble.
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