5 important things happening in South Africa today
·5 Feb 2020
Here’s what is happening in and affecting South Africa today:
- Former president Jacob Zuma is unlikely to be placed in handcuffs after the KZN High Court stayed his warrant of arrest until 6 May, when he is next expected to appear in court. If Zuma fails to appear at the next court appearance, the warrant will be triggered, forcing law enforcement to arrest him, says criminal law expert James Grant. [News24]
- Minister of Public Enterprises Pravin Gordhan has indicated that Cosatu’s proposal to use PIC money to support Eskom is being taken seriously. The minister suggested that the PIC together with the Industrial Development Corporation and the Development Bank of South Africa could take over Eskom’s debt. [Moneyweb]
- Unions will fight government’s planned attempts to freeze public sector increases this year. They argue that members deserve better salaries and perks and should not take the fall for the government’s shortfalls. [BusinessDay]
- South Africa’s planned demerit system will be challenged in court by Justice Project South Africa’s (JPSA). JPSA chair Howard Dembovsky said he was not opposed to the point demerits system, but had a problem with how it would be implemented, especially as the Aarto act will create a system where a person is guilty until they prove themselves innocent. [EWN]
- The rand continued to gain ground after following the stimulus deployed by the Chinese government which restored some of the positive sentiment and risk appetite in the market. On Wednesday the rand was at R14.83 to the dollar, R19.31 to the pound and R16.37 to the euro.
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