5 important things happening in South Africa today

Here’s what is happening in and affecting South Africa today:

• Egg rations in full swing: Over the last few weeks, an avian flu outbreak in South Africa caused egg and chicken shortages nationwide. In response to these shortages, retailers like Woolworths and Pick n Pay are rationing the amount of eggs consumers can buy to one or two egg packs. James Hodge, chief economist and acting deputy commissioner at the Competition Commissioner, said during supply shocks, as is the case with chickens and eggs, rationing is preferred over increasing prices to decrease demand. [Daily Investor]

• Nissan SA jobs at risk: About 400 Nissan SA employees – a quarter of the workforce – may lose their jobs as the Japanese-owned motor company struggles to find a new vehicle to build at its assembly plant in Rosslyn, Tshwane. Nissan said it had begun formal negotiations with employees and unions to “minimise the impact on our people” after the collapse of plans to build a new small bakkie for 2024. The new vehicle would have been a direct replacement for the NP200 bakkie, which will be discontinued in March 2024. [Business Day]

• Businesses turn to Taxi bosses: As the extortion economy pioneered in KwaZulu-Natal spreads, companies have to cope with a complicit state, mushrooming “business forums” and limited economic space for assimilation. In desperation, some have turned to taxi bosses, a group known for their capacity for violent enforcement, for help. [Daily Maverick]

• Going bulletproof: South Africa’s armoured vehicle providers have noted that demand for protection is rising, with one maker reporting sales growth of up to 25% annually in recent years. “Unfortunately, crime is on the increase in SA and has been increasing for years. People who can afford armoured vehicles have been looking into adding those into their armoury of security,” said Grant Anderson from Armormax. Crime has gotten to a point where it is no longer just the politicians and government who are buying armoured cars, he added. [News24]

• Markets: The South African rand recovered some losses on Friday (6 October) after slumping to a four-month low earlier on the back of positive U.S. payrolls data. Analysts had earlier warned that encouraging U.S. employment figures would bolster the dollar and adversely impact the rand. On Monday (9 October), the rand was trading at R19.35/$, R20.42/€, and R23.61/£. Brent crude is trading at $87.58 a barrel. [Nasdaq]