5 important things happening in South Africa today
·24 Jul 2017
Here’s what is happening in and affecting South Africa today:
- Eskom’s CFO Anoj Singh, is being directly linked to payments worth hundreds of millions of rands to Trillian, a Gupta-linked company that the utility previously denied working with. A whistle blower has come forward with new information showing that Singh was fully aware of Trillian, months before the first multi-million rand payments were made.
- Economist Magnus Heystek believes that a tax revolt is looming in South Africa, as the government continues to put more pressure on the wealthy as a means to draw in more tax revenue. The latest move from government is to be rid of tax exemptions for South Africans earning money overseas – next could be inheritance taxes, Heystek said, with the ‘last straw’ fast approaching.
- The latest Gupta leaks reveal how intimidation group Black First Land First and its leader Andile Mngxitama received instruction from the Gupta family to target the family’s critics in the media. Mngxitama has repeatedly denied being tied to the Guptas and working for them, however BLF has so far only targeted those who criticism them.
- EFF leader Julius Malema said that his party would consider entering into a coalition with the ANC – provided that the party commits itself to rooting out corruption, and promises to charge and arrest president Jacob Zuma. The EFF emerged as the kingmakers after the last election, and used their votes to wrest control away from the ANC in three major metros.
- South Africa’s rand firmed against a weaker dollar on Friday, recovering from losses in the previous session after the central bank unexpectedly cut its benchmark lending rate for the first time in five years. On Monday the rand was trading at R12.89 to the dollar, R16.78 to the pound and R15.04 to the euro.
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