Business

5 things you need to know in South Africa today

Staff Writer

 ·27 Sep 2016

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

• A Wits employee has reportedly died from exposure to fire extinguisher fumes released by protesting students. According to reports, the contract worker fell ill last Tuesday from carbon dioxide poisoning, after students opened fire extinguishers in Wits university’s Jubilee Hall res. The worker passed away over the weekend – though the official cause of death is still being investigated.

• An investment note put out late on Monday by investment group Nomura highlights how president Jacob Zuma’s power structures are starting to crack. The president remains firmly in control of the ANC, but has suffered several key defeats – specifically having allies barred from the NPA; Hlaudi Motsoeneng being booted from the SABC; Dudu Myeni’s time at SAA being limited; and his appointed Hawks boss coming under fire.

• Divisions in worker union Cosatu are being laid bare as individual affiliate unions are moving ahead and naming support for their preferred candidate to be the next ANC president. Previously, the union moved forward and spoke with one voice – but now member unions are backing candidates individually, reflecting the similar divisions within the ANC itself.

• The sugar association of South Africa is continuing its fight against a sugar tax, which will see a 20% levy places on sugary beverages in the country saying that the tax will unfairly prejudice sugar companies, with no guarantee it will curb obesity as it proposes to do. The group said that government cannot single out only one ingredient as the cause for obesity, and that the South African diet should be looked at and challenged holistically.

• South Africa’s rand firmed on Monday, shaking off a slight dip in sentiment towards emerging market currencies to resume a recent rally as the dollar stumbled ahead of the first debate between the two U.S. presidential candidates. On Tuesday the currency was trading at R13.57 to the dollar, R17.62 to the pound and R15.26 to the euro.

In other news: The department of communications has no idea what’s going on at the SABC regarding controversial employee, Hlaudi Motsoeneng. The department says it has not received word from the broadcaster on what it plans to do with Motsoeneng. The ANC, DA and other groups have called for the former COO to follow the rule of law on the matter, and step down.