Johannesburg has seen a decline in its reputation as a top financial center, with its ranking dropping from 69 to 83 on the Global Financial Centres Index. Cape Town's ranking dropped from 73 to 91. South Africa is still largely reliant on Eskom's old and unreliable coal fleet, which could break down at any time. Discovery Health has announced that four in every 10 scheme members will experience an increase in contributions of less than 4% from January 2024, but to achieve these increases, the allocation to the medical savings account (MSA) has been cut by five percentage points. For example, a main member on the Classic Saver's MSA will drop from R12,180 this year to R10,020 next year. Transnet has fired two executives over a R33.8 million contract for thousands of disposable straws, with prices inflated from 28 cents to R29 per unit. The South African Union (SIU) launched an investigation into the matter after receiving complaints from a Transnet whistleblower. The South African rand remained steady on Friday, with producer inflation quickened to 4.3% year-on-year in August and foreign direct investment inflows. Brent crude is trading at $92.37 a barrel.
