5 important things happening in South Africa today
·18 Oct 2018
Here’s what is happening in and affecting South Africa today:
- President Cyril Ramaphosa has signed off on an in-depth inquiry into the Public Investment Corporation, with a particular focus on claims of dodgy investments by the group. The PIC has around R2 trillion under management, and has been linked to many questionable investments. [EWN]
- After a bizarre appearance on live TV, SARS’ head of IT continued to raise eyebrows in her appearance before the Nugent Commission, where she gave confusing answers to questions, and did very little in the way of clarifying anything to do with the systems at the revenue service. [IOL]
- Steinhoff says that the investors that are suing the group over the billions lost in the accounting scandal are suspending litigation until next year. The reason for the delay is because the group is starting to recover, and they want to give Steinhoff room to focus on its recovery plans. [Reuters]
- SAA says it has identified two people who may be involved with mid-flight robberies, and added that it is taking proactive steps to clamp down on such crimes. Passengers on a flight to Hong Kong were robbed of items, mid-flight, while they were sleeping. [TimesLive]
- South Africa’s rand firmed on Wednesday as a jump in domestic retail sales and a global return of risk sentiment helped the currency claw back earlier losses. On Thursday the rand was at R14.29 to the dollar, R18.70 to the pound and R16.42 to the euro.
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