What Ramaphosa plans to offer Trump, and new mining laws gazetted

The rand strengthened against a weaker dollar on Tuesday, ahead of the country’s budget speech and a meeting between President Cyril Ramaphosa and U.S. President Donald Trump.

The rand was trading at R17.95 to the dollar, marking an approximate 1% increase from Monday’s closing level.

Johann Els, a chief economist at Old Mutual, said that the uncertainties we have faced regarding the domestic budget and the coalition government are beginning to settle.

He added that this is contributing to the rand’s strength. He also noted that much of the rand’s appreciation is due to the decline of the U.S. dollar.

It last traded about 0.2% weaker against a basket of currencies as investors faced uncertainty over Trump’s tariff policies and the potential for a Russia-Ukraine ceasefire.

On Wednesday, 21 May, the rand was trading at R17.89 to the dollar, R24.03 to the pound and R20.28 to the euro. Oil was trading slightly lower at $66.57 a barrel.

Here are five other important things happening in and affecting South Africa today:

What Ramaphosa is bringing to Trump’s table: Reports indicate that President Cyril Ramaphosa plans to offer incentives such as deals for American gas and Elon Musk’s companies, access to South Africa’s mining output, and adjustments to agricultural export restrictions when he meets with US President Donald Trump in Washington. The meeting is scheduled for lunch on Wednesday, followed by a photo opportunity in the Oval Office. [News24]

New mining laws: A 108-page draft Mineral and Petroleum Resources Development Bill was gazetted on Tuesday by Minister Gwede Mantashe. Mantashe noted that it seeks to streamline administrative processes to better align with the National Environmental Management Act and the National Water Act, thus reducing inefficiencies and improving turnaround times for mining rights, permits, and regulatory approvals. [Business Day]

D-day for Godongwana: South African Finance Minister Enoch Godongwana’s third attempt to deliver a budget is his toughest challenge yet. He will present the budget to lawmakers at 14h00 on Wednesday in Cape Town. The budget must demonstrate to investors that the government remains committed to fiscal discipline. [Daily Investor]

Rate hikes revolt: Durban and Johannesburg residents and property owner associations are not accepting the proposed property rate, electricity, water, and sanitation tariff hikes. They say they face an affordability crisis and that their cities’ crumbling service delivery does not warrant the increases for the 2025-26 financial year. They have filed formal objections to proposed increases in the relevant metros. [Mail & Guardian]

Service delivery collapse: Waste management departments in key metros in Gauteng are collapsing. Many municipalities are experiencing significant delays in waste collection due to broken or ageing compactor trucks, with Emfuleni reporting an 84% backlog. Cities like Ekurhuleni, Tshwane, and Merafong have resorted to hiring contractors despite having costly waste management departments. [News24]