Government

5 important things happening in South Africa today

Staff Writer

 ·14 Nov 2018

Here’s what is happening in and affecting South Africa today:

• Following the resignation of home affairs minister Malusi Gigaba, a cabinet reshuffle could be on the cards. President Cyril Ramaphosa could make some further changes to cabinet, though a full overhaul is not expected until after the elections in May 2019. [Business Day]

• A constitutional amendment for land redistribution without compensation is a done deal – with the ANC, EFF and NFP having enough numbers to make the changes irrespective of the pushback against it. A number of parliamentary process must still happen – but now it’s just a matter of time. [Daily Maverick]

• An analyst has warned against blindly following advisors who recommend buying property offshore, saying that they are preying on panicked wealthy South Africans, and convincing them to buy “worthless” properties at elevated prices. He said purchases require extensive research and due diligence. [702]

• Public enterprises minister Pravin Gordhan will meet with the Public Protector today as part of her investigation into him, relating to him signing off on former deputy commissioner of SARS, Ivan Pillay’s early retirement. Gordhan has called the investigation an abuse of power. [eNCA]

• South Africa’s rand was slightly weaker against the dollar on Tuesday along with other emerging currencies as demand for risk continued to be subdued globally, while stocks were marginally lower weighed down by gold stocks. On Wednesday the rand was at R14.45 to the dollar, R18.76 to the pound and R16.31 to the euro.