5 important things happening in South Africa today
·16 Jan 2018
Here’s what is happening in and affecting South Africa today:
- The Hawks have reportedly secured an arrest warrant for one of the Gupta brothers and a number of the family’s associates, the City Press reports. The paper cited senior officials in the specialised investigation unity, just hours after the paper confirmed that the NPA would be freezing R1.6 billion in assets related to the Gupta-linked Trillian and McKinsey.
- SARS has warned citizens not to try and hide their cryptocurrency earnings, saying that it should be declared along with other assets and investments during tax season. The revenue service is currently working on guidelines for crypto traders, and is consulting with global tech companies and other governments on how to do so.
- Eskom is struggling to sort out its interim financial statements over worries that it won’t be able to finance its debt. The group is expected to issue a $1 billion bond, which would help – however it may have to publish its less-than-stellar financial results before then. Eskom’s interim results are expected before the end of January.
- President Jacob Zuma’s future will be discussed this week, senior sources within the party have told Reuters. The sources confirmed that the issue of Zuma’s presidency will be raised at a meeting being held on Thursday. New ANC president Cyril Ramaphosa’s supporters will suggest that Zuma step down.
- South Africa’s rand strengthened slightly on Monday, helped by a weaker dollar and by reports that the ANC party was preparing to discuss whether President Jacob Zuma should step down as head of state. On Tuesday the rand was at R12.31 to the dollar, R16.97 to the pound and R15.09 to the euro.
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