5 important things happening in South Africa today
·29 Jan 2018
Here’s what is happening in and affecting South Africa today:
- Icasa will launch an investigation in to allegations of kickbacks being paid by Multichoice to the likes of the SABC and Gupta-linked ANN7. The investigation will be launched following complaints laid by the Democratic Alliance in late 2017. Multichoice has been accused of paying off the news groups to help influence policy over the digital migration.
- Eskom has denied reports that a World bank loan to the power utility has been recalled, after it was again downgraded by ratings agencies late last week. Among the payments Eskom needs to make by the end of the month is an African Development Bank loan of R2.2 billion. The group will release its delayed interim results on Tuesday.
- The National Prosecuting Authority has denied reports that it was getting ready to arrest and charge mining minister Mosebenzi Zwane and the three Gupta brothers. It said investigations were ongoing and there were no indictments. However, the Sunday Times reported that it had seen the documents.
- Cape Town residents have been warned that panicking and moving to stockpile water will only help to bring ‘day zero’ closer. Water and Sanitation Minister Nomvula Mokonyane said that stockpiling was not necessary, as plans were in place to have enough water readily available.
- The rand traded firmer on Friday, holding at its best levels since mid-2015, as sentiment was lifted by a weaker dollar and expectations that the new leader of the ruling ANC would rejuvenate the economy. On Monday the rand was trading at R11.88 to the dollar, R16.80 to the pound and R14.75 to the euro.
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