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South Africa: Updated at 16h30 – What’s Happening In South African News – May 20, 2022

Cape Town —  

African National Congress Predicts Sharp Voter Loss in 2024

The ruling African National Congress’s rude awakening at the local government elections in November 2021, seems to be reason enough for them to think that they may lose over 50% of the vote in the 2024 elections. The ANC is not placing the blame on votes placed for the Democratic Alliance or the Economic Freedom Fighters but rather on ANC members who ran as independents or who supported civic movements.

Even Less Vroom Vroom For South African Motorists!

Given that motorists will be paying even more for petrol in June, with a possible hike of up to R3,50 per litre, Minerals Minister Gwede Mantashe has added to their woes by confirming that the general fuel levy cut will not be extended beyond May. This comes as economists warn of possible labour unrest from this levy decision.  According to reports, the levy was cut by R1.50 a litre for April and May as government sought to relieve the economic stress of surging fuel prices.

Lira Makes Progress After Suffering a Stroke

Popular singer Lira who suffered a stroke while in Germany for a show, is making good progress. According to her team, the “Feel Good” singer was initially struggling with her speech but said that she will be taking some time to  focus on her recovery. She thanked fans for their support and prayers, assuring that she would be back soon.

Biggest Interest Rates Hike Since 2016 Announced

The Reserve Bank’s monetary policy committee has increased the repo rate by 50 basis points to 4.75%. Four members of the committee voted for the increase, while one voted for a 25 basis point hike. The decision was based on the inflation rate in April hit 5.9%  for the third time in five months. The R eserve Bank targets an inflation rate of between 3% and 6%. South Africa has seen a massive surge in the petrol price, following the international boycott of oil from Russia, after its invasion of the Ukraine, with oil now at U.S.$110 a barrel, opposed to U.S.$70 the same time last year. A surge in the price of foodstuffs and electricity is adding to household woes.