Business

5 important things happening in South Africa today

Staff Writer

 ·11 Sep 2017

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

• With a speculated cabinet reshuffle on the cards for this week, analysts and politicians are weighing in on the apparent changes. Nkosazana Dlamini Zuma is widely anticipated to be sworn into cabinet this week, though the presidential hopeful denies any knowledge of such a move. Analysts, meanwhile, doubt she will replace Blade Nzimande and minister of higher education.

• Auditing firm, KPMG, has been involved with the Gupta family’s businesses and controversial dealings as far back as 2008, Business Day reports. The firm is being investigated over its role in the alleged money laundering of R30 million to pay for the 2013 Gupta wedding. The group dropped the family on mid 2016.

• Finance minister Malusi Gigaba is coming under scrutiny over alleged plans to hand mega-contracts worth billions of rands, with the DA calling on the minister to ensure that the proper procedures are followed. Sunday papers reported that R70 billion worth of contracts were given to Chinese companies without following the proper contract processes.

• Uber drivers in South Africa have threatened that they will retaliate in kind if metred taxi drivers continue their violent campaign against them. Uber SA management have criticised the South African government for condemning the violence in the local taxi wars, while doing nothing to regulate or issue permits for the affected drivers.

• South Africa’s rand firmed slightly against the dollar on Friday with the greenback on the backfoot and the local currency holding on to gains after the economy’s exit from a recession this week. On Monday the rand was trading at R12.92  to the dollar, R17.03 to the pound and R15.53 to the euro.