5 important things happening in South Africa today
·27 Jun 2019
Here’s what is happening in and affecting South Africa today:
- As South Africa’s public enterprises continue to crumble, president Cyril Ramaphosa has ruled out privatisation as a route to turn things around at any of them. He said public companies have a role to play in driving economic growth, and must work in tandem with the private sector, but dismissed privatisation as the most efficient and effective way to save them. [Business Day]
- The legitimacy of the office of the Public Protector has again been brought into question, with the SACP claiming that current PP Busisiwe Mkhwebane is acting at the behest of rogue groups. Mkwebane has faced a lot of criticism in her 2 years in the position, with many of her reports taken on review, and two court rulings against her. The SACP accused her of acting on behalf of a faction within the ANC. [EWN]
- The state capture commission has heard how former public enterprises minister Malusi Gigaba sat silent, tacitly supporting a recommendation that SAA cut its SA-India route and hand it over to the Gupta-linked Jet Airways.The route was one of the more lucrative strategic paths for the airline – while SAA was losing more money on many other routes. [Daily Maverick]
- Rand Water has completed its upgrade work on pipelines, bringing a 54 hours maintenance period to a close with ‘minimal disruptions’. The group said that normal services will now return, and residents can go back to using water normally. [ENCA]
- South Africa’s rand firmed on Wednesday as risk appetite improved after comments from the US Treasury Secretary suggesting progress in a trade deal with China, offsetting disappointment about the size of potential US interest rate cuts. On Thursday the rand was at R14.23 to the dollar, R18.04 to the pound and R16.16 to the euro.
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