5 important things happening in South Africa today
·4 Sep 2017
Here’s what is happening in and affecting South Africa today:
- Deputy president Cyril Ramaphosa has warned that more “leaks” and “scandals” are likely to pop up in the coming months, as state resources get used to target political opponents in the lead up to the ANC’s elective conference. Ramaphosa was target of one such attack this past weekend, when emails emerged purportedly showing the DP in an extra-marital affair.
- The Bank of Baroda South Africa faces a R11 million fine by the Financial Intelligence Centre for flouting South Africa’s anti-money laundering laws. Documents compiled by auditing group Deloitte show that the bank breached the laws by helping the Gupta family acquire Optimum Coal mines. Deloitte was appointed by National Treasury to investigate the matter.
- In an interview with the BBC, president Jacopb Zuma’s son, Duduzane, has gone on record to deny any and all allegations of wrongdoing on his part, relating to his business relationship with the Gupta family. Zuma also said that anyone who has made the allegations against him is lying, and that his account of events is the truthful one.
- UK PR firm Bell Pottinger’s chief executive James Henderson has resigned ahead of the release of an independent report on the work done by the firm in South Africa for the Gupta family. The firm was found guilty by the UK PR authority of breaching the group’s code of conduct. According to the DA, Henderson remains a 40% owner of the firm.
- South Africa’s rand raced to its firmest in more than a month on Friday as traders eased their dollar holdings and bought the local currency after the United States reported weaker than expected employment growth. On Monday the rand was trading at R12.92 to the dollar, R16.74 to the pound and R15.36 to the euro.
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