Business

5 important things happening in South Africa today

Staff Writer

 ·15 Aug 2017

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

• The leaked Gupta emails have reportedly revealed why blue-light vehicles illegally ferried hundreds of guests to the Gupta’s Sun City wedding. The vehicles reportedly belonged to Phineas Manthata owner of Instrumentation for Traffic Law Enforcement (ITLE), which is a supplier of blue lights to various units of the South African Police Service (SAPS). Manthata who is a staunch ally of President Jacob Zuma, also reportedly listed property’s owned by the Gutpa’s as his residential address.

• Finance Minister Malusi Gigaba has reportedly reached an agreement with parliament to amend Treasury’s report on Eskom’s coal-supply agreements with Tegeta. According to Scopa chairperson Themba Godi, the report did not take into account the recent forensic report and called for a R659 million payment to Tegeta to be written off as “irregular expenditure”.

• There is still no clarity on government’s land restitution programme in South Africa despite spending over R33 billion on the project since 1994. According to Land Reform Minister Gugile Nkwinti, his department has only just concluded phase two of the land audit in terms of land ownership by race, gender and nationality. However it still faces further challenges as a result of the absence of information in respect of institutions, such as trusts, private and public organisations and companies, as well as sectional title holdings.

• The Gauteng High Court is expected to rule today on the Public Protector’s directive to change the mandate of the central bank. According to SARB spokesperson Jabulani Sikhakhane the proceedings are expected to start at 10 AM with a favorable outcome expected, given the significant backlash Public Protector Busisiwe Mkhwebane has faced over her decision.

• South Africa’s rand firmed on Monday, buoyed by Moody’s decision to delay ratings decision on the sovereign that was scheduled for last Friday. On Tuesday the rand was trading at R13.31 to the dollar, R17.26 to the pound and R15.68 to the Euro.