5 important things happening in South Africa today
·12 Dec 2017
Here’s what is happening in and affecting South Africa today:
- The presidency has denied any knowledge of a new draft of the country’s state of emergency laws, which will reportedly allow government to cut all communication and make arrests without a warrant. Meanwhile, former state security minister David Mahlobo says that the government will “address” the continued leaking of confidential information.
- Steinhoff’s moves to do damage control – such as establishing a subcommittee of independent directors to investigate the latest scandal – has done little to resolve concerns around the company. Analysts and investors say that the independent directors were already on the board and had already failed to govern properly.
- Analysts believe the ANC is heading for a split, with the chances higher now than ever before in the party’s history. Despite both Ramaphosa and Dlamini-Zuma calling for unity after the coming conference, many analysts believe Ramaphosa’s supporters will forge their own path, should the deputy president not succeed Zuma as leader.
- The NPA has again dismissed allegations that Shaun Abrahams is a ‘Zuma puppet’, after Abrahams acceded to the president’s request for a deadline extension to allow him to make representations why he shouldn’t face 783 corruption charges. The High Court ruled last week that Abrahams should vacate his office and a new NDPP should be appointed.
- South Africa’s rand firmed against the dollar on Monday as the greenback retreated, while a recovery of Steinhoff’s shares following a week of turmoil at the global retailer lifted blue chip stocks. On Tuesday, the rand was at R13.64 to the dollar, R18.21 to the pound and R16.05 to the euro.
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