5 important things happening in South Africa today
·8 May 2018
Here’s what is happening in and affecting South Africa today:
- South Africa’s municipalities are in trouble, with 112 (or 40%) being unable to carry out effective service delivery in this financial year, according to finance minister Nhlanhla Nene. This includes being unable to pay creditors within the 30 day period, with no financial recovery plans. [Huffpo SA]
- If he must leave for a quick solution to the SARS leadership issue, suspended chief Tom Moyane wants president Cyril Ramaphosa to pay him his salary to 2019 – including bonuses – and declare that he was an ethical and effective leader at the revenue service. The president declined. [Daily Maverick]
- Eskom is on the hunt for a new COO, with notices going out to advertise the position. The power utility is looking for someone with 20 years of experience and has managed a staff compliment of over 15,000 people. The closing date for applications is the end of May 2018.
- SA pharmaceutical group Aspen Pharmacare will produce up to 3.6 billion pills a year in its new R1 billion manufacturing plant. The drug maker says the plant will initially focus on pumping out late-stage cancer medication – with most of its products expected to be exported. [Reuters]
- South Africa’s rand weakened on Monday, tracking the euro and other emerging market currencies as the dollar’s recent rally was reignited by renewed bets of higher lending rates. On Tuesday the rand was trading at R12.56 to the dollar, R17.01 to the pound and R14.96 to the euro.
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