5 important things happening in South Africa today

 ·9 Apr 2024

Here’s what is happening in and affecting South Africa today:

  • Investec’s ‘sensitive’ client information battle: Investec Bank is battling its ex-legal counsel over documents in her possession, which the bank suspects include confidential client details. Business Day reported that in January, Investec sought intervention from the high court through an ex parte application, which means they proceeded without informing the other party, to reclaim documents following her termination from the company. [Business Day]

  • South Africa snubs the EU: According to people familiar with the situation, the European Union made several requests to South Africa to schedule the so-called EU-South Africa Summit over the past 12 months but has not received a response setting or suggesting a date. [BusinessTech]

  • Cash-strapped Joburg splurges on more bodyguards for bigwigs: Despite budget cuts, Johannesburg’s council has approved a significant increase in VIP protection for its top officials, making its spending on VIP security the highest in South Africa. As an example, the Al Jama-ah mayor will now receive ten bodyguards and an eight-vehicle fleet. [Daily Maverick]

  • Over 132 Western Cape schools damaged: According to the provincial education department, over 132 schools have been damaged after a massive storm hit the Western Cape on Sunday night. Over 270,000 pupils have subsequently been affected by school closures. [EWN]

  • Markets: South Africa’s rand firmed on Monday, after central bank data showed that foreign reserves had increased in March. On Tuesday (9 April), the rand was trading at R18.64 to the dollar, R23.58 to the pound, and R20.24 to the euro. Oil is trading at $90.58 a barrel. [Reuters]

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