5 important things happening in South Africa today

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

• Eskom’s board is planning on taking action against former acting CEO, Matshela Koko, in a bid to fix perceptions that the company harbours and cultivates corruption. Koko, and former CEO Brian Molefe, were recently flagged by Eskom’s auditors. Koko in particular has been called out for approving contracts worth millions with companies where his step-daughter held an interest.

• The SACP has rebuked president Jacob Zuma in the same line as Cosatu, by refusing to allow the president to address its members at its congress, which starts today. The SACP has outright rejected Zuma as president and has called on him to step down on a number of occasions. At its congress, the party will decide whether or not to split from the ANC alliance and contest the 2019 elections on its own.

• 22 South African financial groups – including all the big banks, the JSE and investment firms – have come together to set up a national blockchain. The consortium, called the South African Financial Blockchain Consortium are investigating as many as 4 different blockchain technologies, including Etherium, for local use. Blockchain technology is widely expected to disrupt the financial market as we know it.

• Concerns are being raised around a recent spate of break-ins at the offices of state prosecutors and investigative units, where laptops and other equipment are being stolen. The latest break in, at the offices of the NPA in Pretoria, had equipment stolen belonging to prosecutors who are investigating Hawks Brigadier Nyameka Xaba, who is a suspect in a case.

• South Africa’s rand reversed earlier gains and slipped against the dollar on Monday as the U.S. currency hit a two-month high against the yen, boosted by robust economic data. On Tuesday the rand was trading at R13.46 to the dollar, R17.33 to the pound and R15.32 to the euro.