South Africa’s currency, the rand, has fallen to record lows, with fears of it reaching R20 per dollar as investors are concerned about the restrictive monetary policy, a severe power crisis, and political errors exacerbating the already weak economy.
Eskom, the South African power utility, has urged citizens to delay charging their inverter systems to reduce demand on the power grid and prevent escalating load shedding during peak times.
MultiChoice CFO Tim Jacobs has highlighted a direct link between increased load-shedding in South Africa and a decrease in active DStv subscribers.
South Africa’s currency, the Rand, has dropped to a record low following a significant rate hike by the South African Reserve Bank (SARB).
In South Africa, the Value-Added Tax (VAT) is 15%, levied on taxable supplies made by a registered vendor, either wholly or partly in South Africa.