5 important things happening in South Africa today
·13 Feb 2018
Here’s what is happening in and affecting South Africa today:
- The ANC said it will hold a press briefing at midday to discuss the outcomes of its meetings with president Jacob Zuma – this after conflicting reports emerged on Monday; from early reports saying that Zuma had agreed to step down, to later reports saying that Zuma is refusing to go and the ANC needing to remove him through parliamentary processes.
- Civil action group Outa has called on the Reserve Bank to ensure that no Gupta-related funds are moved offshore when India’s Bank of Baroda closes shop in the country. The bank has given the SARB notice of its intent to exit South Africa. The bank is heavily linked to the Guptas, as the only bank that still has Gupta-linked business accounts open.
- Christo Wiese’s sale of over 600 million Steinhoff shares was likely forced by his funders, according to Business Day. It is understood that Wiese had put up the shares as collateral to borrow money from big global banks, which was used in share sales coinciding with Steinhoff’s acquisition activity.
- Cooperative Governance Minister Des van Rooyen lied to Parliament, by saying he had not met with the Gupta family since taking office, public protector Busisiwe Mkhwebane has found. She called on the president to take action against van Rooyen, as he was in violation of the executive ethics code.
- South Africa’s rand firmed on Monday after local media reported that President Jacob Zuma had agreed to step down, before surrendering those gains after the presidential spokesman dismissed the reports as “fake news”. On Tuesday the rand was at R11.94 to the dollar, R16.55 to the pound and R14.70 to the euro.
Loading ...