5 important things happening in South Africa today
·25 Sep 2018
Here’s what is happening in and affecting South Africa today:
- Analysts and economists remained unmoved by president Cyril Ramaphosa’s R50 billion plan to reignite South Africa’s economy. While interventions in the agricultural sector in particular were welcomed, there is a feeling that too much uncertainty around policies exists. [IOL]
- South Africa’s big four banks warned the Reserve Bank that they may have been cut off from international payments systems had they kept Gupta accounts open. The banks told of catastrophic consequences of keeping the accounts open – including job losses. [Mail & Guardian]
- New research by the Institute of Race Relations on the 2019 elections projects that the EFF will double its support base, at the expense of the ANC. The group said the EFF is expected to get around 13% of the vote, with the ANC is expected to drop from 62% to 52%. The DA is polling flat at 23%. [eNCA]
- A leaked memo from the Thabo Mbeki Foundation has revealed that the former president is strongly opposed to the ANC’s framing of the land debate on racial lines. The document shows Mbeki’s disappointment in the ANC apparently dropping its non-racial stance, and abandoning the “South Africa for all” principles in the Freedom Charter. [Daily Maverick]
- South Africa’s rand reversed earlier advances on Friday, largely ignoring a raft of interventions listed by president Ramaphosa to save the economy. Markets were closed on Monday. On Tuesday the rand was at R14.38 to the dollar, R18.85 to the pound and R16.90 to the euro.
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