5 important things happening in South Africa today
·18 Jun 2018
Here’s what is happening in and affecting South Africa today:
- Liberty CEO David Munro says that the group’s clients have not suffered any financial losses from the weekend cyber attack which saw an external group claim to have breached Liberty’s systems and hijacked data. Liberty said it was still investigating the matter, adding that the culprits seem to have gained access to emails and possibly attachments. [Reuters]
- Eskom says it will take about 10 days for its network to fully recover from the acts of sabotage that led to load shedding being reintroduced for the first time in years. While the system remains constrained, and the risk of load shedding is present, Eskom managed to avoid rotational blackouts on Sunday. [Eskom]
- The three former SARS executives who were part of the so-called ‘rogue unit’ are expected to appear in court this week on charges of corruption and contravening the RICA act. The three execs had previously tried to get proceedings halted. [News24]
- Finance minister Nhlanhla Nene has extended the term for acting SARS commissioner Mark Kingon by another 90 days. Kington was appointed after Tom Moyane was suspended over maladministration. Only the president can appoint a permanent commissioner. [Reuters]
- The rand stuck around 6-month lows on Friday, put under pressure by the announcement that load shedding would hit the country, while investors pulled out of risky emerging markets. On Monday, the rand was trading at R13.44 to the dollar, R17.84 to the pound and R15.58 to the euro.
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