5 important things happening in South Africa today
·14 May 2019
Here’s what is happening in and affecting South Africa today:
- DA leader Mmusi Maimane has penned a letter to staff taking full responsibility for the party’s poor showing in the 2019 election. He said that an independent review process will take place to identify what went wrong, and that changes will be made to ensure the party grows stronger. [TimesLive]
- The ANC has announced its premier candidates for the provinces where it secured a majority in the 2019 national election. This includes Ramaphosa-opponent Sihle Zikalala for KwaZulu Natal, and a return for David Makhura in Gauteng. [IOL]
- With the elections now over, eyes are on South Africa’s future cabinet, with market players calling for a compact leadership, where roles are filled by expertise, not loyalty. Analysts say Ramaphosa needs the right skills to implement the policies that stand, as he doesn’t have time to create new ones. [ENCA]
- Stats SA will publish South Africa’s latest employment stats today, and economists expect bad news, anticipating unemployment figures to go up. In the last report, unemployment was at 27.2% – analysts expect this to jump to around 27.5%. [News24]
- South Africa’s rand weakened on Monday, shedding election- inspired gains, as an escalation in the US-China trade war dented emerging market currencies, while stocks also retreated. On Tuesday the rand was at R14.29 to the dollar, R18.52 to the pound and R16.02 to the euro.
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