5 important things happening in South Africa today
·23 Aug 2017
Here’s what is happening in and affecting South Africa today:
- The Auditor General has reportedly found that key documents related to nuclear procurement in South Africa are irregular and unauthorised. Energy Minister Mmamoloko Kubayi has refused to discuss the issue, saying that the report is not final and she has not yet spoken to the AG about the findings. The report pointed to a R60,000 contract that was inflated to R171 million.
- The South African Institute of Tax Professionals wants the scrapping of the foreign employment income exemption to be put on ice, pending a full impact study on how the move will affect business. The group said it could be seen as a hostile action against foreign tax, and could lead to retrenchments and a continued decline in South Africa’s global competitiveness.
- A new urban safety report due to be released today has named Cape Town the murder capital of South Africa. In terms of murder rates, Cape Town, Nelson Mandela Bay and Buffalo City top the list of South Africa’s most dangerous cities. Cape Town also tops the list for the highest incidence of robbery and property related crimes.
- Water and Sanitation Minister Nomvula Mokonyane is blaming municipal debt for financial problems at the country’s water boards, saying that they are owed over R7 billion in outstanding payments. The minister was called to answer questions about R2.5 billion in irregular expenditure. Mokonyane was accused of ‘passing the buck’.
- South Africa’s rand weakened on Tuesday as traders held their positions ahead of local consumer price data on Wednesday and the U.S. Federal Reserve’s annual central banking conference. On Wednesday, the rand was trading at R13.23 to the dollar, R16.97 to the pound and R15.56 to the euro.
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