5 important things happening in South Africa today
·6 Feb 2020
Here’s what is happening in and affecting South Africa today:
- President Cyril Ramaphosa is in favour of Cosatu’s plan to use R250 billion of pension money managed by the Public Investment Corporation (PIC) to pay down Eskom’s debt. Conditions of the deal would include that no worker at Eskom would lose their job and that Eskom would not be privatised. [BusinessDay]
- Eskom on Wednesday said stage 2 load shedding would continue until Friday with the probability of rolling blackouts going into the weekend. The power utility said high demand and a shortage of capacity were to blame. [EWN]
- The South African Revenue Services has recovered over R2.6 billion in taxes since April 2019 as it continues to clamp down on non-payment. It said it It is working closely with the National Prosecuting Authority and the Special Investigating Unit to bring criminals to book. [eNCA]
- A day after a warrant of arrest was issued for not appearing in court due to illness, former president Jacob Zuma sent social media into a frenzy by tweeting only a picture of himself aiming a rifle with a scope balanced on his quadbike at Nkandla in KwaZulu-Natal. Zuma’s attorneys had submitted a sick note from a military hospital but Judge Dhaya Pillay questioned this, as the note had allegedly been altered. [The Citizen]
- The rand and other emerging markets strengthened on Wednesday on the news of a possible treatment for the Wuhan coronavirus. On Thursday the rand was at R14.73 to the dollar, R19.13 to the pound and R16.19 to the euro.
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