5 important things happening in South Africa today
·15 Dec 2017
Here’s what is happening in and affecting South Africa today:
- Steinhoff chairman Christo Wiese and his son Jacob have resigned from the board of the company to further ensure independent governance at the embattled retail group. His resignation comes a day after Steinhoff’s second largest shareholder, the PIC, expressed discomfort about possible conflict of interest in having Wiese as interim chief executive.
- Suggestions for a new voting process at the ANC elective conference – which would give both leading candidates the opportunity to be deputy president should their presidential bid fail – has been rejected by both sides. It was suggested by SG Gwede Mantashe that the presidential and deputy vote be held separately, in hopes this would lead to a unified result.
- News of drafted state of emergency laws have caused an uproar among the public. Despite denials of its existence from the presidency, Rapport reiterated that high-placed sources confirmed it was real, and drafted by the Justice Department in 2016. However, it was not pushed forward due to constitutional concerns, and needed to be revised.
- Cape Town mayor Patricia De Lille has been suspended from the party’s activities and has been given an ultimatum to submit reasons why she should not be recalled as mayor. The party said there is enough evidence from its investigation of maladministration at the city to cause concern.
- South African stocks ended slightly higher on Thursday with Lonmin in demand following the announcement of a $382 million takeover by a local precious metals miner. On Friday the rand was trading at R13.50 to the dollar, R18.15 to the pound and R15.90 to the euro.
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