5 important things happening in South Africa today
·21 Aug 2018
Here’s what is happening in and affecting South Africa today:
- State-owned Land Bank says that government’s plan to allow expropriation of land without compensation could trigger a default at the group. The bank, which provides financial services to farmers, said that if its rights as a creditor are not protected, defaults that would cost government R41 billion could occur. [Reuters]
- Former president Jacob Zuma’s legal team is asking for more time to study witness submissions – but insists they are not trying to delay the hotly anticipated commission of inquiry. The commission was expected to hear testimony from state capture whistle blowers, however many expect the legal teams of those implicated to encumber the process. [Mail & Guardian]
- The department of energy is expected to make an appearance in Parliament today to discuss rising fuel prices, and outline government’s plan to mitigate costs. The meeting is a week late after the department snubbed the sitting last week, which left the portfolio committee on energy fuming. [EWN]
- Hundreds of people have been left jobless after the Gupta-linked AfroView (formerly ANN7) channel was pulled from DStv yesterday. Mzwanele Manyi acquired the channel and the newspaper (Afro Worldview, formerly the New Age) from the Guptas, but failed to rebrand them and move forward. About 350 people are now without work. [IOL]
- South Africa’s rand firmed in afternoon trade on Monday, with the market focused on proposed trade talks between the United States and China this week that investors hope will ease tensions between the world’s two biggest economies. On Tuesday the rand was at R14.43 to the dollar, R18.54 to the pound and R16.66 to the euro.
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