Here’s what is happening in and affecting South Africa today:
- Eskom’s chair Zethembe Khoza has accused suspended CFO Anoj Singh of lying to public enterprises minister Lynne Brown over Eskom’s relationship with Gupta-linked Trillian, when he denied it was doing any business with them. Singh was set to testify in the parliamentary inquiry into state capture, but was sent packing after he failed to file evidence in good time.
- Steinhoff International CEO Markus Jooste has resigned with immediate effect after investigations turned up evidence of ‘accounting irregularities’. Steinhoff has been embroiled in a battle with UK authorities, who believe that the company should have declared as much as $1 billion of transactions.
- Cape Town has been hit with level 6 water restrictions which will take effect from January 2018. Households using more than 10,500 litres a month will face fines, non-residential properties will have to reduce consumption by 45%, while agricultural users will have to lower their water use by 60%. Use of borehole water has been discouraged.
- With the ANC’s conference fast approaching, the numbers of nominations from all SA provinces is in, showing deputy president Cyril Ramaphosa in the lead. Ramaphosa came out with 1,860 votes, while his closest competitor, Nkosazana Dlamini-Zuma with 1,330 votes. It should be noted, however, that many provinces have approached the courts to have the processes declared invalid.
- South African listed shares fell on Tuesday after a U.S law firm launched an investigation into media and e-commerce giant Naspers, while the rand and government bonds were little changed ahead of next week’s ruling party leadership vote. On Wednesday the rand was trading at R13.50 to the dollar, R18.12 to the pound and R15.98 to the euro.