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5 important things happening in South Africa today

Eskom says it needs to hike tariffs by 25% to pay off its debts – but it will settle for a 10% increase for now; Mkhize says the Covid storm has passed; more public servants have been flagged doing business with the state this year than last year; and labour minister Thulas Nxesi is on the warpath over UIF fraud.

South Africa facing a tax implosion: analyst

The increased financial pressure caused by the lockdown is seen in South Africa’s weak tax revenue growth, with the government facing a tax revenue implosion, says Russell Lamberti founder of investment advisory firm ETM Macro Advisors and member of Panda.