5 important things happening in South Africa today
·10 Apr 2019
Here’s what is happening in and affecting South Africa today:
- President Cyril Ramaphosa has tried to allay fears around South Africa’s coming land reform changes, asking white farmers in particular to not fear the process. He said that land reform will happen with care, and in line with the Constitution. It won’t be a land grab, he said. [ENCA, EWN]
- The ANC has pulled out of cross examining Bosasa whistleblower Angelo Agrizzi at the state capture commission. Agrizzi has made explosive allegations against the party, claiming that Bosasa was paying as much as R12 million to the party’s top six. [Business Day]
- Ratings agency S&P is being a little too optimistic about South Africa’s growth prospects, economists say, particularly when most other groups point to declining numbers. S&P sees GDP growth at 1.6% for 2019, when groups like the IMF, World Bank and others put it closer to 1%. [Moneyweb]
- Please Call Me ‘inventor’ Nkosana Makate is back in court, but this time not facing Vodacom, but rather his former legal funders. The funders, who parted ways with Makate before his landmark victory over Vodacom, are seeking their dues – claiming they are owed half of whatever payout he receives. [702]
- South Africa’s rand firmed on Tuesday, supported by a retreating dollar, which was shackled by a combination of weak U.S. economic data and gains in commodity-linked currencies. On Wednesday the rand was at R14.08 to the dollar, R18.38 to the pound and R15.85 to the euro.
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