5 things you need to know in South Africa today
·10 Nov 2016
Here’a what is happening in and affecting South Africa today:
- While the markets – including South Africa’s – are still dealing with the reality of a Trump presidency in the USA, local traders are convinced that trade agreements and the African continent in general are unlikely to suffer any changes, as Trump appears to be mostly unconcerned about us, rather focusing on America. However, there is still uncertainty on Trump’s foreign policy – so people are keeping an eye on what it to come.
- President Jacob Zuma faces another motion of no confidence vote in Parliament today, with the DA leading the charge. The DA has called on ANC MPs to join it and other opposition parties in getting rid of Zuma once and for all. However, ANC secretary general Gwede Mantashe said that the motion – like those before it – will fail, as the party stands united against Zuma. Mantashe said the motion is premature, as the judicial commission into state capture still needs to take place.
- Joburg mayor Herman Mashaba has established an anti-corruption unit headed by former provincial Hawks head Shadrack Sibiya. The key role of the unit will be to go after government officials, and lay formal charges against them if they have been found to have engaged in corrupt activities. The former ANC administration said that the unit is old news, and was set up under their watch – accusing Mashaba of parading their achievements as his own.
- Flash floods in Johannesburg have claimed at least two lives, as heavy rainfall caused a section of the N3 highway had to be shut down, and flights at OR Tambo International Airport had to be diverted. Cars were swept off of the highway and down an embankment, with at least two people drowning.
- South Africa’s rand tumbled as much as four percent on Wednesday along with other emerging market currencies as investors were rattled by a shock U.S. election win for Republican Donald Trump. South Africa’s main stock index ended slightly higher. On Thursday the rand was trading at R13.50 to the dollar, R16.75 to the pound and R14.75 to the euro.
Image source: Intelligence Bureau
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