5 things you need to know in South Africa today
·27 Oct 2016
Here’s what is happening in and affecting South Africa today:
- While finance minister may have received a standing ovation from his colleagues in Parliament during his budget speech on Wednesday, reaction from analysts and economists have been more muted – with general consensus being that the minister’s plans were “okay”, hitting the necessary points to ease concerns from rating agencies, but failing to deliver the shake-up South Africa desperately needs to change its path to junk.
- Public Protector Busisiwe Mkhwebane has answered president Jacob Zuma’s call for clarity over her predecessor’s report on state capture, saying that it is indeed final. Zuma sought clarity on the matter in a second affidavit submitted to court in his bid to get an interdict blocking its release. The president believes that, as an implicated person, he was not given enough time to give his side in the report.
- The Gupta-owned coal mine at the centre of a controversy involving bailouts from Eskom (said to be a key matter in the Public Protector’s unreleased state capture report) is facing liquidation, eNCA reports. The media group has acquired court papers from Barloworld Equipment, who claim that they are owed millions of rands by the mine.
- As peaceful protests turned to yet another battle between students and police during the budget speech on Wednesday, minister Gordhan called for an end to the violence during protests. However, in the aftermath of the clash, students told the media that they would not stop until their demands were met – and that violent response to police would continue, as “violence gives (them) power”.
- South Africa’s rand weakened against the dollar on Wednesday after Finance Minister Pravin Gordhan cut economic growth forecast and predicted wider budget deficits in his medium-term budget statement. On Thursday, the rand was trading at R13.94 to the dollar, R17.03 to the pound and R15.20 to the euro.
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