Here’s what is happening in and affecting South Africa today:
- DA leader Mmusi Maimane and former leader Helen Zille have reportedly reached an agreement over her disciplinary processes for bringing the party into disrepute. In the agreement, Zille will retain her post as Western Cape premier until 2019, but lose influence in the party – and be blocked from commenting on its policies and direction. The DA is seeking a quiet political solution to the situation to avoid lengthy and public legal proceedings.
- While South Africa waits for finance minister Malusi Gigaba to address junk status and a recession in South Africa, his ousted predecessor, Pravin Gordhan, has offered some advice. According to Gordhan, South Africa has ended up where it is through “unwise decisions” from leaders, and to fix things, we need to restore confidence in the country by accepting the truth about the country for what it is. The country needs certainty and stability, he said.
- SABC chairperson Khanyisile Kweyama says the broadcaster is working on cancelling contracts which include Gupta media’s Business Breakfasts, which have been accused of being used as a channel to draw millions of rands out of state-owned companies. Former SABC executives claim that the now-fired Hlaudi Motsoeneng initiated the breakfasts in 2011 and that the SABC had partly been funding the Gupta media ventures.
- EWN has revealed that the Gupta family’s lawyer Gert van der Merwe has applied for indemnity in a case involving R16 millon in rand in corruption. The case does not involve his current clients, the Guptas, but revolves around money laundering for former clients. According the report van der Merwe has admitted to passing money between parties through his attorney’s accounts. He was arrested in 2014.
- South Africa’s rand firmed against the U.S. dollar and government bonds firmed on Monday, shrugging off a credit downgrade by Moody’s of both local and foreign currency ratings as investors kept faith in the high yields on offer. On Tuesday the rand was trading at R12.82 to the dollar, R16.21 to the pound and R14.34 to the euro.