Good morning. Here’s what you need to know today:
- Enoch Godongwana says BEE isn’t being scrapped.
- Home Affairs and border posts are set to be hit by a planned strike on Thursday.
- The outcome of the US midterm elections is still too close to call.
Godongwana denies Treasury plans to phase out Broad-based-BEE and localisation – SABC News
Finance minister Enoch Godongwana dismissed suggestions that the government would be scrapping Broad-based BEE policies after it was forced to “amend regulations empowering state companies to exercise discretion in the implementation of BEE requirements.” The change was done as per a requirement by the Constitutional Court and will no longer disqualify 100% white-owned companies from tendering for government jobs. The new legislation will come into effect in January. Read more here.
Home Affairs, border posts will be hit as 235 000 civil servants plan strike on Thursday – News24
The Public Servants’ Association (PSA) trade union says its planned strike for Thursday will “definitely” go ahead with a march and picket at the office of the national treasury. The PSA’s some 250,000 members are striking for a 6.5% wage increase while government has offered a 3% pay rise. The union has warned that the strike will affect home affairs, border posts, and the department of transport. The government said it will have measures in place to mitigate the effects of the strike. Read more here.
Americans set to deliver verdict on Biden, Democrats in midterms – Daily Maverick
Vote counting is underway as midterm election results trickle in every hour from the United States. At last count, it looks likely that Republicans will retake control of the House of Representatives after making gains in House seats while Democrats may retain control of the Senate. But thus far a decisive projection on who will control Congress is too close to call. Should the House and Senate be controlled by two different parties, it will make getting Democratic president Joe Biden’s legislative agenda accomplished, quite difficult. Read more here.
Here’s what else we’re reading:
SA Business
- Cape Town’s fight against crime is going hi-tech – with drones, cameras, and sensors – Business Insider
- 40% of Post Office jobs at stake as unions warn of retrenchments – News24
- Russian oligarch yacht Nord was supposed to be in SA just about now. So where is it? – Business Insider
Global Business
- Meta will begin laying off employees on Wednesday morning – SABC News
- Adidas names CEO of rival Puma as new boss – News24
- Climate crisis will have huge impact on Africa’s economies, study says – The Guardian
Markets
