5 important things happening in South Africa today
·28 Mar 2019
Here’s what is happening in and affecting South Africa today:
- A decision to suspend summonses and pursuit of e-toll debt is a strong signal that the system is on its way out, according to Outa. However, many question about the suspension remain unanswered – particularly government’s plan to pay off rising debt tied to the system. [Outa]
- The Reserve Bank MPC will announce its rates decision today, with most economists calling a hold on the current rates for now. The South African economy has seen some recovery, and is in a favourable inflation environment – but faces pressure in spending and debt. [Fin24]
- President Cyril Ramaphosa has named former chief executive of Alexander Forbes, Edward Kieswetter, as the new SARS commissioner. Kieswetter replaces Tom Moyane, who was fired for maladministration and mismanagement of the revenue service. [Reuters]
- Elders in the ANC are calling for members who have been implicated in wrongdoing to voluntarily remove themselves from the party’s election list. The ANC elders were vocal in the campaign to remove former president Jacob Zuma. [City Press]
- South Africa’s rand tumbled to its weakest since early January on Wednesday, as sentiment toward emerging market currencies was soured by a slide in the Turkish lira. On Thursday the rand was at R14.61 to the dollar, R19.28 to the pound and R16.45 to the euro.
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