Business

5 things you need to know in South Africa today

Staff Writer

 ·6 Jan 2017

Here’s what is happening in and affecting South Africa today:

• The disdain for the ANC continued this week, as the party’s critics came out in full force to slam its upcoming 105th birthday celebrations – calling it a farce, reserved only for the ANC ‘elite’. Chief among naysayers is EFF leader Julius Malema, who said that anyone who attends the festivities at the Orlando Stadium is a traitor to the working class. Another Twitter hashtag (#DontFillUpOrlando) also started trending, as people continued to criticise the party, calling for a boycott of the annual bash.

• The apparent war between finance minister Pravin Gordhan and SARS commissioner Tom Moyane is alive an well in 2017, with the minister expressing ‘serious concern’ over Moyane’s running of the revenue service. In replies to Parliament on Thursday, Gordhan listed many on the SARS commissioner’s failings, and noted that he could not rely on information coming from the group, further pointing to a complete breakdown of trust between the departments.

• Eskom has said that it is reluctant to cut off power to municipalities which owe them money, but the company is left with little choice because of mounting debt. On Thursday, the High Court dismissed an application to interdict the power cuts, with opponents saying it would be unfair to residents that actually do pay. The power utility said that residents who feel that it is unfair should approach the courts to hold their municipalities accountable.

• A tug-of-war has emerged in the ongoing Ford Kuga saga, where the motor company is seeking access to evidence held by the police to determine if one of their vehicles which burst into flames was responsible for the death of a South African citizen. Close to 40 Ford Kugas have burst into flames since 2013 in South Africa, but the company is yet to determine why. Police do not want to hand over the evidence as Ford could be held liable in future civil or criminal proceedings.

• South Africa’s rand firmed against the dollar on Thursday, touching a four-week high as the greenback lost ground against a basket of currencies after unimpressive U.S. labour data. On Friday, the rand was trading at R13.63 to the dollar, R16.87 to the pound and R14.42 to the euro.