5 important things happening in South Africa today
·30 Aug 2017
Here’s what is happening in and affecting South Africa today:
- Finance minister Malusi Gigaba is under pressure as reports emerge that he might tap into funds from the Public Investment Corporation to bail out state companies like SAA. The minister is being criticised by Cosatu for the move, while also coming under fire from Deloitte over their report for Treasury, while Treasury itself is being scolded for a failed R1 billion IT contract.
- The Hawks have refuted claims by president Jacob Zuma’s son, Duduzane, that the unit has given him and the Guptas the all-clear on allegations of corruption. The case was ongoing the Hawks said. Duduzane claimed in an open letter that the Hawks had not found any wrongdoing, and he blamed Pravin Grodhan for trying to destroy his life.
- Presidential hopeful Nkosazana Dlamini Zuma has made clear her proirities for the economy should she come into power – skills development and education, while promoting radical economic transformation and kicking out ‘white monopoly capital’. The former AU chair made her position known in a speech at the Gordon Institute of Business.
- Despite a lack of cooperation from Eskom, solar power is making strides in South Africa and currently provides electricity to over 1 million people in the Northern Cape. Renewable energy companies are creating thousands of jobs and economic opportunities, but the encumbent power utility is still refusing to sign any new independent energy contracts.
- South Africa’s rand broke past a key level on Tuesday, recovering for early concerns about North Korea’s missile launch, while gold stocks rose in a generally lower session. On Wednesday, the rand was trading at R12.99 to the dollar, R16.79 to the pound and R15.55 to the euro.
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