5 important things happening in South Africa today
·15 May 2019
Here’s what is happening in and affecting South Africa today:
- President Cyril Ramaphosa is expected to cut his cabinet when he announces who will be running government for the next few years – however by how much is still up in the air. Reports point to cabinet being cut to 25 ministerial roles, but some analysts believe it could go as low as 9 departments. [News24]
- As unemployment spikes in the country, South Africa’s youth are faring a lot worse. The latest data from Stats SA shows that youth unemployment now sits at 55.2%. Analysts have cast doubt on government’s ability to follow through on the promise to create 300,000 new jobs a year. [ENCA]
- With contradicting messages coming from DA about its poor performance in the 2019 national election, the party has moved its federal council forward from July, to address the issues and ensure party unity doesn’t fray. DA leader Mmusi Maimane took personal responsibility for the loss, while the party’s chair said it was a collective failing. [Daily Maverick]
- MTN is targeting Thursday for its listing of its Nigerian operations. This is the group’s preferred date, but it said that no hard timeline was available. The listing could also happen next week, it said. [Reuters]
- South Africa’s rand firmed on Tuesday as slightly more optimistic comments from US and Chinese officials on trade brought some comfort to markets, while stocks fell. On Wednesday the rand was at R14.24 to the dollar, R18.39 to the pound and R15.96 to the euro.
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