1. Eskom is technically insolvent and will "cease to exist" (if it continues on its current path) by April 2019, according to a presentation by the department of public enterprises in parliament. Eskom's R420bn debt burden now represents 15% of government’s debt. Public Enterprises Minister Pravin Gordhan also told parliament that those responsible for Eskom’s current woes – in particular, the poor design of Medupi – may soon "find themselves in orange uniforms".
2. The rand continues to take strain amid the ongoing load shedding – last at R14.04/$ after trading around R13.30 only last week.
3, President Cyril Ramaphosa has refused to release the contract between his son and facilities management company Bosasa, which the DA requested in an application lodged in terms of Promotion of Access to Information Act (PAIA).
4. Curro’s share priced jumped by more than 9% after the company released its results, and declared its first dividend (12c a share) ever.
5. Cosatu held 11 marches in eight provinces yesterday, in what it described as the start of protests against job losses in the country.
In rands, South African traffic fines are relatively cheap compared to other countries.
But, as a new GoCompare survey of 31 countries shows, when calculated as a percentage of earnings, South African fines are among the priciest.
Here’s how our fines stack up:
For speeding 21km/hour over the limit, the South African fine, at R1,000, is the eight cheapest among the 31 countries. Poland (R356) is the cheapest of the countries surveyed.
But according to the survey, this is 5% of the average monthly salary of South African drivers - making it the 12th most expensive among the 31 countries. In Estonia, though, a speeding ticket will cost you almost a third of your monthly salary.
At R927, South Africa’s fine for using a cellphone while driving is among the top-10 least expensive countries – but more expensive than Ireland, New Zealand and Austria.
When basing the figures on monthly average salaries, South Africa was in the middle of the rankings.
The South African fine for this offence is R1,500 – the 11th least expensive in the world. Still, pricier than in Germany, the US and Ireland.
At 7.6% of the average South African car owner’s salary, this makes South Africa the 12th most expensive. But in Greece, the fine for driving through a red light will take half of the average salary.
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