Here’s what is happening in and affecting South Africa today:
- The ANC has shot down an attempt by the EFF to change the constitution to allow for land redistribution without compensation in South Africa. The EFF brought the proposal, saying that it would vote with the ANC to get the two-thirds majority needed to change the Constitution. however, the proposal failed with 261 votes against, and 33 votes for. “Radical” transformation is now part of the ANC’s rhetoric, but it remains unclear what action will be taken.
- Acting Prasa CEO Collins Letsoalo says he has not received any notification that he has been fired from the position, saying that only transport minister Dipuo Peters can remove him. The defiant executive says that he thus has no reason to plan a move. The Prasa board on Monday took a unanimous decision to dismiss Letsoalo, following claims he boosted his own salary by 350%.
- President Jacob Zuma says that the xenophobic violent that has once again broken out in South Africa should not be categorized as xenophobia, because it’s triggered by other things, such as crime and personal fueds. Despite the fact that attacks are happening between South Africans and foreign nationals, Zuma insists South Africans are not xenophobic.
- Absa has made submissions to the Public Protector over the apartheid-era state looting report that leaked to the public in January. The bank confirmed it made submissions on Monday, but will not comment on them. Absa was implicated in the draft report, where the PP found that it owed over R2 billion to the state for an illegal bailout given to it during apartheid.
- South Africa’s rand weakened on Tuesday with emerging assets struggling for clear direction as risk demand eased ahead of a speech before Congress by U.S. President Donald Trump. On Wednesday, the rand was trading at R13.11 to the dollar, R16.22 to the pound and R13.84 to the euro.