Finance

5 things you need to know in South Africa today

Staff Writer

 ·9 Jan 2017

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

• With hundreds of busses ferrying in supporters from KwaZulu Natal and Mpumalanga to Orlando Stadium in Soweto – at a speculated cost of R21 million – opposition parties have stated that the ANC has well and truly lost Gauteng. Commenting on the ANC’s 105 year birthday celebrations held this weekend, EFF leader Julius Malema said that the ANC is crumbling, while the DA said that the party is showing tell-tale signs of a dying organisation.

• Deeper analysis of the 2016 matric results shows the ugly truth behind the ‘celebrations’ of the class of 2016’s pass rate. While the pass rate was relatively high at 72.5%, the average marks in the subjects written shows that quality remains low. The average mark for geography was only 39%, with history at 44% and English (first language) at 55%. The lowest marks, however, were maths (31%) and science (35%).

• ANC secretary general Gwede Mantashe has called the ANC Women’s League ‘ill-disciplined’ following the latter’s endorsement of AU chair Nkosazana Dlamini-Zuma as the next president of the ANC. The league was criticised for engaging in slate politics so openly, after the ANC NEC had decided to keep campaigning and lobbying quiet until policy direction had been determined.

• Two more Ford Kugas burst into flames this past weekend, while the company ums and ahs over what could possible be causing the problems. Over 40 Kugas have experienced the combustion problem since 2011, however Ford has stated that there was not evidence of an issue to initiate a recall. The company has since urged owners of the 1.6l Kuga to get their cars checked at their local dealer.

• South Africa’s stocks snapped two days of losses and ended the first trading week of 2017 higher, led by market heavyweight Naspers, while gains by the dollar after a U.S. jobs report weakened the rand. On Monday the rand was trading at R13.78 to the dollar, R16.83 to the pound and R14.50 to the euro.