Finance

5 important things happening in South Africa today

Staff Writer

 ·19 Dec 2018

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

• Former president Jacob Zuma says he challenged Thuli Madonsela’s report recommending an investigation into allegations of state capture, to safeguard the integrity of that very inquiry. Zuma said in court documents, that he was anxious that establishing an inquiry on Madonsela’s terms could have exposed him to acting unconstitutionally. [BusinessDay]

• Seven South Africans detained in China have been released from prison and will be deported this week, after completing their detention period. Another group of eight South Africans who have been in distress in Zhejiang Province will be deported on 23 December 2018. Sisulu has appealed to South Africans planning to travel to China and other countries to ensure that they have the correct visas and required travel documents. [SANews]

•  Communications and Telecommunications Minister Stella Ndabeni-Abrahams says she will not speak about problems at the SABC until a plan for its future has been decided on. Ndabeni-Abrahams said she needs to consult more widely on how to resolve the problems, including possible retrenchments. [EWN]

• A runaway fire in the holiday town of St Francis Bay destroyed at least 11 homes, while several others were left damaged, officials confirmed on Tuesday. The fire broke out between Harbour Road and Assissi Drive on Tuesday afternoon and saw residents evacuated from the area as authorities scrambled to contain it. [IOL]

• Market activity is tapering down as the world heads in to the festive season. The rand traded in a narrow range during Tuesday’s session. It has started Wednesday off on the front foot, however, with very little direction. The rand was at R14.3o to the dollar, R18.09 to the pound and R16.28 to the euro.