5 things you need to know in South Africa today
·13 Jan 2017
Here’s what is happening in and affecting South Africa today:
- President Jacob Zuma has dashed talk of a tradition within the party where the deputy president moves on to become president, saying no such thing exists. Speaking on radio this week, Zuma’s comments hinted that he did not support Cyril Ramaphosa to succeed him – while also stating that the ANC was ready for a female leader. This was seen as a tacit endorsement for AU chair Nkosazana Dlamini-Zuma.
- The programme being trialled to assist the ‘missing middle’ class of tertiary students comes with one vital caveat – that the South African Revenue Service will be allowed to take back a portion of a student’s salary after they graduate and start working, to repay some of the loan. The programme would cost R42 billion to implement fully, which comes with a lot of debt concerns.
- FNB clients who were affected by two heists at the bank’s Randburg and Parktown branches are coming together and hiring private investigators to work on the case. FNB is not legally responsible for items lost in the crimes, unless those affected can prove gross negligence on the bank’s part. Victims believe that FNB failed on multiple levels, and are determined to prove their case.
- The International Labour Organization has warned the unemployment across the world is expected to rise in 2017 due to slow growth, political and economic uncertainty and a lack of investment. This includes in countries like South Africa, which are reliant on commodity exports. Unemployment remains a critical issue in SA, which has one of the highest rates of joblessness in the world.
- South Africa’s rand gained more than two percent on Thursday to hit its strongest level in two months as the dollar plunged on concerns over U.S. President-elect Donald Trump’s economic strategy. On Friday the rand was trading at R13.53 to the dollar, R16.46 to the pound and R14.37 to the euro.
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