Business

5 things you need to know in South Africa today

Staff Writer

 ·15 Dec 2016

Here’s what is happening in and affecting South Africa today:

• Deputy President Cyril Ramaphosa has acknowledged that he is available for the position of President of the ANC. During an interview on Power FM radio station on Wednesday evening, Ramaphosa said that being asked to be president was “humbling” and that he was “available” should the need arise.

• Communications Minister Faith Muthambi was put through the wringer by MPs on Wednesday as they tried to ascertain what her role was in the ongoing crisis at the SABC. Muthambi acknowledged that she did play a role in some of the SABC’s current issues but that there should be a “collective responsibility” for the broadcaster’s failures. “The governance failure of the SABC shouldn’t be attributed to the shareholder (Muthambi) …it should be a collective responsibility,” said Muthambi. “I’m not exempting myself. Where I’ll take responsibility, I’ve done that.”

• Duduzane Zuma has repeatedly used a Gupta-owned plane to enter and leave SA despite having supposedly resigned from Oakbay Investments reports EWN. Flight records show that Zuma continued to use the private plane five times to enter and leave the country following his resignation, sometimes along with businessman Salim Essa, who is a known associate of the Guptas. This shows that there was never any intention to cut ties, said political analyst, Ralph Mathekga. “There was no meaningful intention on the side of Zuma to disentangle himself from the Gupta business. The Guptas seem to have strategically no longer wanted their businesses to be seen in South Africa and attempts to incorporate these business interests outside South Africa,” said Mathekga.

• The National Student Financial Aid Scheme plans to brief the media on the outcomes of its applications for funding on Thursday. It follows a tumultuous year of student protests and also comes after Higher Education Minister Blade Nzimande announced in September that universities could decide their own fee increases for 2017, up to a maximum of 8%.

• South Africa’s rand eased amid cautious trade before the U.S. Federal Reserve interest rate decision, while stocks dipped as Steinhoff and Shoprite tumbled on plans to merge their African businesses. On Thursday, the rand was trading at R14.00 to the dollar,R17.57 to the pound and R14.73 to the euro.