Here’s what is happening in and affecting South Africa today:
- ANC president Cyril Ramaphosa says that South Africa simply doesn’t have the money for nuclear energy project – giving the clearest indication so far that the project may be put on ice. Speaking at a news conference at the WEF in Davos, Ramaphosa said South Africa has excess power at the moment, and not enough money in the bank to push nuclear.
- Toyota South Africa is recalling 700,000 vehicles across 10 models, including Lexus. This is part of an ongoing global campaign initiated by car manufacturers related to defective Takata safety bags, it said. Affected owners will be notified by a Toyota dealer to bring their vehicle in for the service action.
- It appears Eskom’s new leadership was just as surprised by the group’s u-turn on the McKinsey and Trillian matter as the rest of the country. The statement was signed off by acting CEO Sean Maritz, who has been called before the new CEO and board. The board will review the statement and how and why it was sent.
- Social development minister Bathabile Dlamini spent another day evading responsibility for the Sassa grants crisis, this time telling the inquiry that she did not tell the Constitutional Court about the Sassa deadline being missed, because there was a lot going on. Dlamini is being accused of perjury, and also being in contempt of a ConCourt order through her inaction.
- South African assets were little changed on Thursday, with the rand strengthening slightly as the leader of the ruling African National Congress talked up the prospects for foreign investment at the World Economic Forum in Davos. On Friday the rand was at R11.90 to the dollar, R16.87 to the pound and R14.79 to the euro.