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5 things you need to know in South Africa today

Staff Writer

 ·19 Apr 2017

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

• The EFF has filed papers in support of the United Democratic Movement’s (UDM’s) application to the Constitutional Court for a secret ballot in the pending motion of no confidence against president Jacob Zuma.
  In his affidavit, Julius Malema illustrates that the decision on whether to vote in favour of the motion within the ANC is a contested one by referring to a Facebook post penned by party MP Makhosi Khoza in which she outlines the dilemma faced by ANC MPs. All papers are set to be filed by Friday and the court will then determine the way forward.

• The Competition Commission has added additional complaints against 18 banks‚ detailing offences allegedly committed by Standard New York and the Bank of America while rigging the rand-dollar exchange market. Commission inspector Mfundo Ngobese said in an affidavit that the authority had become aware of “other collusive conduct” in addition to that described in its initial complaint against the entities. These included Absa‚ Investec‚ Standard Bank and Standard Bank securities subsidiary Standard New York.
• Vodacom’s Tanzania unit received regulatory approval to extend the deadline of its share sale for three weeks, allowing investors more time to take part in the country’s biggest initial public offering to date. The offer will now expire on May 11, Ian Ferrao, managing director of the Vodacom-owned business, said in a statement on Tuesday. The extension will give retail and institutional investors more time to take part, he said.

• President Jacob Zuma’s legal adviser, Micheal Hulley, might face charges of attempting to defeat the ends of justice after Ex-NPA boss Mxolisi Nxasana revealed in an explosive affidavit that Hulley had attempted to get him to lie under oath that President Zuma had not pressured him into vacating his office in 2015.

• South Africa’s rand held up against the dollar in trade on Tuesday, despite continued domestic political uncertainty. The local unit strengthened in an intra-day trade on Tuesday and will look to local political developments for further direction. On Wednesday, the rand was at R13.33 to the dollar, R17.08 to the pound and R14.30 to the euro.