Business

5 important things happening in South Africa today

Staff Writer

 ·5 Jun 2017

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

• The Democratic Alliance has found itself in a bit of a messy position after announcing it would be suspending its former leader, Helen Zille, from party activities this weekend – drawing fire from her and her supporters. The party now appears to be divided over the issue, with the Western Cape sitting squarely behind her, saying that she has not been treated fairly. Zille is facing disciplinary action over social media posts about colonialism.

• The SACP has told the ANC to get its house in order, or else it will be forced to start building the tripartite alliance around itself – and will find a replacement for the ANC. The party held its central committee meeting this past weekend, and said it has been in talks with Cosatu and the ANC stalwarts, discussing ways the alliance can proceed if the ANC fails to self-correct.

• The latest revelations from the Gupta leaks is that state-owned arms group Denel’s  chair, Dan Mantsha, allegedly gave sensitive information to the Gupta family, during a time that Denel was in negotiations over a joint venture with the family. Mantsha also tried to get the joint venture approved during the time Des van Rooyen was finance minister, but failed to do so as he was only in the position for four days.

• Meanwhile, the Gupta family has left South Africa – but only for a few days, according to the family lawyer, to attend a religious ceremony. Their convenient absence has made it impossible to draw official responses or reactions to the many allegations contained in the Gupta leaks. The family previously took an ‘extended holiday’ when former deputy finance minister Mcebisi Jonas made explosive claims about being offered money – blowing state capture wide open.

• South Africa’s rand strengthened on Friday ahead of a second ratings decision in as many days, helped by a dollar sunk by a disappointing jobs report that dimmed bets of a U.S. rate hike in the second half of the year. On Monday the rand was trading at R12.85 to the dollar, R16.53 to the pound and R14.47 to the euro.