Energy

5 things you need to know in South Africa today

Staff Writer

 ·16 Jan 2017

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

• The ANC succession battle is heating up, with deputy president Cyril Ramaphosa, ANC treasurer general Zweli Mkhize and secretary general Gwede Mantasha apparently revealing their opposition to Zuma-backed AU chair, Nkosazana Dlamini-Zuma’s bid for the top job. The three politicians, in three separate events on Sunday, took a subtle swipe at president Zuma and his preferred candidate, saying ANC members should be wary of those campaigning for their families – and that they shouldn’t use gender as a basis for their decisions.

• A damning new report shows that Ford Motors South Africa was warned 12 months ago of problems relating to its Kuga range – of which 47 vehicles have burst into flames since 2015, killing one person. According to an investigation by the Times, a probe conducted into 2 Kuga fires in January 2016 warned the company that there were issues – while insurance companies alerted Ford to problems as far back as 2014. Ford only issued warning to client in December 2016.

• [MUST READ] Public Protector Busisiwe Mkhwebane’s recommendation that Absa pay back R2.25 billion is apparently based on a report compiled by British spies with a strong leaning to the SA government – while ignoring the report by judicial and legal experts, which cleared the bank of wrongdoing based on standing legislation. The Huffington Post SA has detailed the stark differences between the two reports – including the spies’ promise to government to ‘get SARB under control’ and get billions of rands back from SA companies.

• Today is D-day for South African municipalities that owe Eskom billions of rands in unpaid tariffs – with the power utility saying it’s time to pay up, or get cut off. The group said that it will move ahead and cut off power (in a staggered system like load shedding) to eight municipalities, following a High Court ruling giving it the all-clear to do so. The municipalities in question owe the company billions, and have reportedly failed to adhere to several payment processes made available by Eskom in the past.

• South Africa’s rand edged lower on Friday after rallying more than two percent in the previous session, while a surge in demand for retailers lifted stocks. On Monday the rand was trading at R13.55 to the dollar, R16.31 to the pound and R14.39 to the euro.