5 important things happening in South Africa today
·26 Jul 2017
Here’s what is happening in and affecting South Africa today:
- The office of the chief public prosecutor in Pretoria was broken into on Thursday night, just two weeks after computers were stolen from the office of the National Director of Public Prosecutions. According to News24, the office was outfitted with state-of-the-art CCTV cameras and was considered secure by those working there.
- Public Enterprises minister Lynne Brown’s personal assistant has been tied to the controversial Gupta family. The assistant, Kim Davids, could not explain why a detailed invoice bearing her name had been sent to the Guptas to settle or why they had been party to arranging a chauffeur to ferry someone with her name to their luxury 10-bedroom villa “L35” which is situated at one of Dubai’s most sought-after addresses.
- The Gupta’s woes continue as its main banking partner, the Bank of Baroda, has reportedly dumped the family, leaving scores of Oakbay Investment employees in a state of panic about how they will be paid in the coming months. On 6 April 2016, First National Bank became the last major South African bank to close the accounts of Gupta-owned Oakbay.
- Public protector Busisiwe Mkhwebane has rejected the Democratic Alliance’s claim that she is investigating Eskom’s R30 million pension payout to former CEO Brian Molefe. Mkhwebane said on Tuesday that the payment never happened, and her office was, in fact, investigating how the payout was approved by the Eskom board.
- South Africa’s rand weakened on Tuesday as investors looked elsewhere in high-yield emerging markets for carry-trade opportunities, but stocks gained as Kumba Iron Ore rallied after resuming dividend payments. The JSE’s main stock indices are now within striking distance of life-time highs. On Wednesday the rand was trading at R13.08 to the dollar, R17.02 to the pound, and R15.22 to the euro.
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