5 things you need to know in SA business today and an extremely depressing look at Eskom's wasted decade
1. There's a high risk of loadshedding today, after more power outages yesterday:
#POWERALERT 2Eskom stops loadshedding for today, but the risk of Stage 2 rotational loadshedding remains high for tomorrow @eNCA @BDliveSA @SABCNewsOnline @ecr9495 @JacaNews @IOL @SowetanLIVE @CityPowerJhb @City_Ekurhuleni @CityTshwane pic.twitter.com/SOE2Eql1EQ— Eskom Hld SOC Ltd (@Eskom_SA) December 3, 2018
It will be the sixth straight day of electricity shortages.
2. President Cyril Ramaphosa will announce the new national director of public prosecutions this afternoon. The final nominees are Shamila Batohi, Siyabulela Mapoma, Simphiwe Mlotshwa, Rodney de Kock, and Andrea Johnson – all advocates.
3. The JSE rallied almost 3% yesterday, and the rand was looking solid at R13.70/$* - global markets jumped after the US and China agreed to a ceasefire on new tariffs over the weekend.
4. The GDP numbers for the third quarter will be released at 11:30. Economists expect that South Africa emerged from a recession. Yesterday, the latest Absa Purchasing Managers’ Index - which measures manufacturing activity - showed a strong improvement.
5. New car sales fell by more than 5% in November. Some 31,054 vehicles were sold, with almost a quarter of the cars going to car rental companies. The Volkswagen Polo and Polo Vivo continued to dominate sales in the new car market - with VW selling 3,092 units of its more premium Polo, while the Polo Vivo moved into second place with 2,427 units.
* Update: this article has been corrected to reflect the rand/dollar exchange rate of R13.70.
An extremely depressing look at Eskom's wasted decade
The public interest lawyer Richard Spoor yesterday shared a graphic depiction of the deteriorating situation at Eskom.
"The numbers speak for themselves. It takes a special kind of ineptitude to stuff things up this badly," Spoor tweeted.
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