5 important things happening in South Africa today

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

• The African arm of Germany’s Munich Re has dropped KPMG as its auditor, putting even more pressure on the firm amid a scandal around its involvement with the Gupta family and a report on the so-called ‘SARS rogue unit’. Munich Re said that it didn’t want to accuse KPMG of anything, but felt it was best to seek a new auditor for 2018.

• Following legal battles in KZN and the Eastern Cape, the ANC leadership in the Free State is next to face a challenge to its legitimacy, as divisions are exposed and the battle for the presidency of the party intensifies ahead of the ANC elective conference in December. An ANC member in the Free State is threatening to go to the High Court unless the provincial executive committee disbands.

• Mining minister Mosebenzi Zwane tried to mend some fences with the mining industry, but the attempt has been described as too little, too late. Zwane called for engagement with the mining industry over his controversial mining charter; however the pleas fell on deaf ears as many big players had boycotted the meeting in which he made them. The charter is subject to a court challenge.

• Sygnia CEO, Magda Wierzycka has offered former Trillian CEO and Gupta scandal whistleblower Bianca Goodson a job, after it was revealed that the latter may have been forced to resign from Sage. Wierzycka also criticised Sage for the move, and called for KPMG to be shut down for its involvement in facilitating state capture.

• South Africa’s rand fell for a third consecutive session on Tuesday, briefly touching its weakest in six months as a combination of a stronger dollar and concerns about the local economy weighed. On Wednesday the rand was trading at R13.61 to the dollar, R18.04 to the pound and R16.01 to the euro.