5 important things happening in South Africa today
·29 Sep 2017
Here’s what is happening in and affecting South Africa today:
- Former Trillian CEO Bianca Goodson has blown the whistle on many dodgy dealings between global consultancy McKinsey, Trillian, Eskom and other SOEs. The former executive made submissions in a statement pointing to Trillian and McKinsey working together to score contracts with state companies worth billions.
- Eskom wants to meet with Business Leadership South Africa to figure out a way to resolve the group’s issues with the power utility, after it and Transnet had their memberships suspended yesterday. Transnet, meanwhile, denied it was given the boot by the forum, saying it simply elected not to renew it membership.
- The political tensions in South Africa are making the Reserve Bank’s already tough job a whole lot more complex, says governor Lesetja Kganyago. He said the political divisions have made the bank a target, and leaders are using populism and rhetoric to talk around the bank, instead of looking at the hard facts of the economy.
- The ANC in KwaZulu Natal is laying the party’s divisions bare by openly defying an order from secretary general Gwede Mantashe and appealing a court ruling on its own. The KZN branch of the party will be seeking to have a High Court judgement saying its structures were elected illegally, dismissed.
- South Africa’s rand recovered from five-month lows against the dollar in late trade on Thursday as the greenback paused its recent rally triggered by hawkish rhetoric by the U.S. Federal Reserve. On Friday the rand was trading at R13.55 to the dollar, R18.18 to the pound and R15.96 to the euro.
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