5 important things happening in South Africa today

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

• Eskom CEO Brian Molefe and public enterprises minister have signed new affidavits saying that Molefe never resigned from Eskom, and was instead on ‘unpaid leave’ during his time as an ANC MP. This marks the third time the script has been flipped on the Molefe issue – first it was a resignation, then it was early retirement. Official statements from Molefe, Eskom and Brown at the time of his departure referred to his exit as a resignation.

• Cosatu’s central executive committee has barred president Jacob Zuma from speaking or addressing members at any of its meetings, choosing to rather be addressed by deputy president Cyril Ramaphosa. The CEC made the decision following an urgent meeting to address the booing and heckling of the president at its May Day gathering earlier this month. The worker federation is backing Ramaphosa to succeed Zuma as ANC president.

• An investigation by National Treasury into contracts with the state has revealed that 12,000 dead people are still on government’s contract payroll, and 14,000 government employees are listed as directors of companies doing business with the state. This type of fraud and price inflation eats a significant portion of South Africa’s R600 billion budget each year, and NT plans on taking action against the offenders.

• The Black Business Council has split from Business Unity SA, after many disagreements on the approach that should be taken by businesses in South Africa. BUSA and the BBC have been at odds on several key issues, with the latter supporting radical economic transformation, opposing the anti-corruption FICA bill and opposing former finance minister Pravin Gordhan’s efforts to work with businesses. The BBC said it would not extend an olive branch to white businesses for much longer.

• South Africa’s rand held its gains of the previous week against the dollar on Monday as the latest bout of U.S. political turmoil kept the greenback on the back foot. This week, focus is on South African Reserve Bank’s interest rates decision, a Moody’s country visit and the release of minutes of the U.S. central bank’s policy committee meeting. On Tuesday, the rand was trading at R13.25 to the dollar, R17.21 to the pound and R14.90 to the euro.