5 important things happening in South Africa today
·23 Jan 2019
Here’s what is happening in and affecting South Africa today:
- President Cyril Ramaphosa is playing an open hand with foreign investors and dignitaries at Davos when it comes to state capture, not shying away from the topic when raised, and even raising it himself. The president is trying to drive investment to SA, and part of that is being honest about the levels of corruption that seeped in, and how the country is trying to change. [IOL]
- Angelo Agrizzi as admitted to being part of widespread destruction of evidence, saying that when Bosasa was implicated in wrongdoing, he and others would literally burn and bury evidence. Agrizzi has been testifying before the state capture commission, admitting to bribery and corruption and implicating many high-level government officials. [TimesLive]
- The PIC has found blatant flaws in a controversial R4.3 billion investment in Iqbal Survé-controlled Ayo Technology Solutions, which has lead to the suspension of two employees. A task team is currently investigating the country’s largest asset manager, uncovering many irregularities. [Daily Maverick]
- South Africa’s ostrich farming industry is in peril, as ongoing drought conditions hammer farmers, leading to a loss of over R1 billion. The blow dealt by the drought was exacerbated when the EU – SA’s biggest importer of ostrich meat – banned the meat due to the SA government’s failure to do proper audits. [News24]
- The South African rand slipped on Tuesday, as fears about the health of the global economy dampened appetite for riskier emerging market assets. On Wednesday the rand was at R13.96 to the dollar, R18.07 to the pound and R15.86 to the euro.
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