5 important things happening in South Africa today
·31 Jan 2019
Here’s what is happening in and affecting South Africa today:
- The South African mining sector has warned of a jobs bloodbath should Eskom be granted a 15% tariff hike every year for the next three years. The Minerals Council South Africa has warned that the industry could lose 150,000 jobs if Nersa gives the power utility the go-ahead. [IOL]
- A third former Bosasa boss has now spilled the beans on officials’ ties to the group through bribery and corruption. Former senior exec Frans Vorster joined former CFO Andries van Tonder , and former COO Angelo Agrizzi in testifying how the group bribed government officials with cars, houses and cash money. [Daily Maverick]
- Deputy minister of finance and chairman of the PIC, Mondli Gungubele, says he has done nothing wrong – after a whistleblower made new corruption allegations at the pension fund. The PIC is being probed over a R4.3 billion investment into Iqbal Surve’s AYO Technologies. [Reuters]
- Vodacom is reportedly ready to pay the man who initiated buzz around the Please Call Me at the group R49 million, as per a Constitutional Court order – but protesters want to shut the company down until it forks over R70 billion. [702]
- South Africa’s rand steadied against the dollar on Wednesday as investors awaited the Federal Reserve’s policy decision and US-China trade talks later in the day. On Thursday the rand was trading at R13.33 to the dollar, R17.50 to the pound and R15.34 to the euro.
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