5 important things happening in South Africa today
·5 Nov 2018
Here’s what is happening in and affecting South Africa today:
- Home Affairs Minister Malusi Gigaba and former public enterprises minister Lynne Brown have been implicated in a new draft report alleging they were key to state capture at Eskom. The report also implicated global consultancy McKinsey and auditing firm KPMG as ‘mercenaries’ in the plot. [eNCA]
- Meanwhile, Gigaba says that he will fight every attempt to have him removed from his position, adding that resigning would be ‘giving into a devious plot’. He said he is ready for war, and will challenge every allegation of corruption against him. [Reuters]
- The ANC’s NEC has slammed comments by finance minister Tito Mboweni, who said that failed airline SAA should be shut down. The ANC said that SAA would not be shut down, and implored its deployees to stick to party resolutions. [EWN]
- President Cyril Ramaphosa has given reasons why SARS commissioner Tom Moyane needs to accept his fate and leave the revenue service. Among the reasons given are that it’s in the public interest, there is no trust in Moyane, and that any good leader would have already stepped down amid the scandal/ [Fin24]
- South Africa’s rand extended its rally on Friday, brushing off a solid jobs report from the United States to hit a fresh pre-budget high as domestic developments and a global return of risk appetite gave the currency momentum. On Monday the rand was at R14.34 to the dollar, R18.63 to the pound and R16.34 to the euro.
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