5 important things happening in South Africa today
·22 Sep 2017
Here’s what is happening in and affecting South Africa today:
- At least three senior managers and two senior executives at Eskom are facing possible criminal action over their role in the R1.6 billion McKinsey and Trillian deal, Business Day reports. New evidence has reportedly been uncovered showing possible criminal activity by the senior management team.
- KPMG’s global chairman John Veihmeyer has met with former finance minister Pravin Gordhan and his former deputy Mcebisi Jonas in which they shared their frank concerns around the auditor’s role in state capture in SA. The Reserve Bank also voiced concern and disappointment in the ongoing saga.
- Presidential hopeful Nkosazana Dlamini-Zuma, who was made an ANC MP on Thursday, has laughed off speculation that she wants a Cabinet position. Many anticipate an imminent Cabinet reshuffle by president Zuma to give his preferred successor a better position from which to launch her campaign.
- Pick n Pay has announced that customers can now buy their groceries on credit, with the launch of a new store account product. The group said that it has designed a product with no hidden fees and wants to offer the lowest possible monthly cost.
- The Rand reversed mild losses against the dollar on Thursday after the central bank kept its benchmark repo rate at 6.75%, defying expectations of a 25-basis point cut. On Friday the rand was trading at R13.27 to the dollar, R18.02 to the pound and R15.86 to the euro.
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