Here’s what is happening in and affecting South Africa today:
- President Jacob Zuma will deliver the state of the nation address for 2018, ANC secretary general Ace Magashule said, stamping out speculation that the president will be removed from his position before the meeting in February. It was previously reported that supporters of Cyril Ramaphosa wanted him to deliver his first address this year, after taking over as leader of the country.
- ANC president Cyril Ramaphosa has met with the head of the IMF to discuss South Africa’s economic position, and to sell the idea that the country is on a new trajectory for growth. IMF chief Christine Lagarde took the opportunity to warn Ramaphosa of the problems facing SA, and said bold reforms were needed to change course.
- Former finance minister Pravin Gordhan has accused ex-Eskom CFO Anoj Singh of lying and stonewalling the public enterprises committee’s probe into the power utility. Singh spent his time in the hot seat evading questions and shifting responsibility for corruption and economic decline at Eskom, much to the frustration of the panel. Singh resigned was suspended and resigned from Eskom this week.
- Social development minister Bathabile Dlamini is also spending her week evading responsibility for her role in the Sassa grants crisis, which is also being probed this week. Dlamini spent much of Tuesday contradicting her previous testimony which was made under oath, while trying to shift the blame for the crisis to others in her department and in Sassa.
- South Africa’s rand drifted lower on Tuesday as investors waited for more clues from the new leader of the ANC on how he plans to rejuvenate the economy and when President Jacob Zuma might step down. On Wednesday the rand was at R12.03 to the dollar, R16.88 to the pound and R14.81 to the euro.