5 things you need to know in South Africa today
·21 Jul 2016
Here’s what is happening in and affecting South Africa today:
- President Jacob Zuma has upped his electioneering by slamming his two biggest competitors in the DA and EFF. Zuma said that the DA’s Mmusi Maimaine was teaming up with “the (white) oppressors of his own people”, and that the EFF’s Julius Malema was disrespectful and impudent – which is why he was kicked out of the ANC in the first place.
- Vodacom has posted rosy quarterly results, showing South African revenue growth of 5.6% to R12.43 billion, and local active customer growth up 5.4% to 35.1 million people. Group data revenue increased 19.4% to R5.79 billion, representing 34.4% of service revenue for the quarter ended 30 June 2016.
- South Africa’s rand firmed against the U.S. dollar on Wednesday after data showing inflation quickened in June boosted the case for domestic interest rates remaining high this year. On Thursday the rand was trading at R14.29 to the dollar, R18.93 to the pound and R15.76 to the euro.
- In global news: Asian stocks climbed to nine-month highs on Thursday, helped by a pickup in capital inflows and a recovery in global oil prices, while the dollar stood strong on growing bets of a U.S. rate increase as early as September.
- Crude oil prices edged up in early Asian trading on Thursday after the U.S. Energy Department reported a ninth consecutive weekly drawdown of crude stocks but a surprise build in gasoline supplies. U.S. crude was up 18 cents at $45.93 a barrel and Brent crude was up 22 cents at $47.39 a barrel.
In other news: Following the SABC agreeing to backtrack on its censorship policy, it will today head to the Labour Court, where eight axed journalists will fight to be immediately reinstated.
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