Here’s what is happening in and affecting South Africa today:
- Short trader Viceroy says it has more ‘dirt’ on Capitec, despite the bank refuting and denying the claims made in the the group’s latest report. Meanwhile, ’boutique’ asset managers, the Benguela Fund, has come out in agreement with Viceroy’s findings, saying that it reached a similar conclusion earlier in January.
- Multichoice is set to hold a press briefing where it will address several claims relating to payments it made to the SABC and ANN7, allegedly to buy influence in the digital TV migration. Industry regulator Icasa announced on the weekend that it would be launching an investigation into the company over the matter.
- Former Prasa CEO Lucky Montana has gone on the offensive against those who would implicate him in state capture. Speaking to the parliamentary state-capture inquiry, Montana reversed testimony by deputy public enterprises minister Ben Martins, saying it was he who brought the Guptas and Duduzane Zuma into the fold, alleging they tried to capture the agency.
- Today is the deadline for president Jacob Zuma to make representations to the NPA for why he should not face over 783 charges of fraud and corruption. NPA head Shaun Abrahams gave the president until today to file the documents, while 213 witnesses have made themselves available to testify in the case.
- The Viceroy report on Capitec tanked South African markets on Monday, pulling back from record highs to close at the lowest point seen in 14 months. Stocks were led lower by Capitec, PSG and Naspers. On Tuesday, the rand was trading at R11.95 to the dollar, R16.95 to the pound and R14.85 to the euro.