Business

5 important things you need to know in South Africa today

Staff Writer

 ·28 Apr 2017

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

• The Hawks claim to have uncovered a R60 million assassination plot to kill president Jacob Zuma and many of his supporters, and have arrested a 23 year old who is said to have masterminded the whole affair. The young man allegedly penned a letter detailing how he started the “Anti-State Capture Death Squad Alliance”, and targeted Zuma, former Eskom boss Brian Molefe and other pro-Zuma politicians. Critics are questioning the authenticity of the matter.

• DA leader Mmusi Maimane says that his relationship with former party leader Helen Zille is now difficult, after he led internal action against the Western Cape premier over her tweets about colonialism last month. In an interview with EWN, he said that he is disappointed in Zille for making the tweets, and that there was no doubt that it caused reputational damage for the DA ahead of the 2019 elections.

• Former finance minister Pravin Gordhan has cemented his anti-Zuma stance by backing calls for a judicial commission of enquiry to be set up to investigate state capture, and by coming out in strong support for deputy president Cyril Ramaphosa. In an interview with CNN on Thursday, the former financial leader said that Ramaphosa was a strong leader and has showed that he has the mettle to lead the ANC for many years to come.

• Business Leadership South Africa has warned that more private businesses are likely to follow the example of Sibanye Gold and withhold capital investment from South Africa, and put off plans and projects that will help spur economic growth in the country. Sibanye Gold this week announced that it would cancel its forthcoming projects in South Africa, on account of the government’s instability and anti-business policies and rhetoric.

• South Africa’s markets were closed on Thursday for Freedom Day. The rand reversed gains made in recent days, where it briefly strengthened to below R13 to the dollar, sparking hopes for a rebound. The rand’s gains were purely the movement of international markets, however, with local risk factors persisting. On Friday the rand was trading at R13.35 to the dollar R17.23 to the pound and R14.50 to the euro.