5 important things happening in South Africa today
·6 Nov 2018
Here’s what is happening in and affecting South Africa today:
- Embattled home affairs minister Malusi Gigaba will appear in parliament today to explain the Oppenheimer Fireblade saga – in which he lied under oath in court. Various parties have called for Gigaba to resign for violating his oath of office, but the minister refuses, saying he is ready for war. [eNCA]
- Public Enterprises minister Pravin Gordhan has delivered somewhat of an ultimatum to SAA, saying that the group needs to step up or die. Gordhan does not agree with finance minister Tito Mboweni that the airline should be shut down or sold. [Business Day]
- Despite there being no petrol price increase this month, economists believe that it does nothing to abate pressures on SA households – particularly because diesel is still going up. Instead of a petrol price cut, government has decided to claw back money through a 22 cents per litre slate levy. [EWN]
- Estate agents are furious at FNB’s new property selling platform, which effectively cuts them out of the process, saving buyers and sellers on commission. Some agents have called on others to close their FNB accounts, while others say it is a wake-up call and an indication that business models need to change. [702]
- South Africa’s rand firmed in late afternoon trade on Monday, recovering from losses earlier in the session, as a dollar rally paused with investors taking profits before US midterm elections that may fuel a bout of volatility for global markets. On Tuesday the rand was at R14.19 to the dollar, R18.51 to the pound and R16.18 to the euro.
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