Here’s what is happening in and affecting South Africa today:
- The Gupta family wants the state to unfreeze their Lamborghini‚ Range Rover‚ Porsche‚ planes, helicopter and other assets. The family has reportedly announced that it will be fighting the NPA over the seizure, and claim that the state has no prospect of convicting them on any criminal charges linked to the so-called Estina Dairy Project scam.
- Public Enterprise Minister Pravin Gordhan has started a process to recover all the monies that has been stolen from the public purse by state-owned enterprises. Gordhan told MPs that his department wanted to know how much money had been stolen, from which entity, by what mechanism and where it had gone to.
- Absa has announced that it will drop KPMG as an external auditor. In a shareholder statement, the bank said that its relationship with KPMG would cease on completion of the statutory and regulatory audit and reporting matters relating to the 2017 financial year – which is expected by approximately 31 May 2018.
- Tourism minister Derek Hanekom has confirmed that he and Home Affairs minister Malusi Gigaba are “close to an agreement” surrounding the travel of minors to South Africa. Gigaba introduced regulations in 2014 requiring children to present unabridged birth certificates and parental letters of consent when travelling alone or with a guardian or single parent – severely impacting tourism.
- The rand fell to a new four and half month low against the dollar in afternoon trade on Wednesday, as investors waited cautiously for the outcome of a US Federal Reserve policy meeting later in the day. On Thursday the rand was trading at R12.66 to the dollar, R17.21 to the pound and R15.17 to the euro.