5 important things happening in South Africa today
·10 Apr 2018
Here’s what is happening in and affecting South Africa today:
- Public enterprises minister Pravin Gordhan has set arm manufacturer Denel squarely in his sights, appointing a new board to the cash-strapped SOE, and promising to hunt down any who have stolen money from the group, and hold them accountable. Gordhan said the goal is to undo the damage done by years of state capture. [EWN]
- National Treasury says it is doing what it can to rein in the government wage bill, which is expected to balloon to R630 billion by 2020. Treasury said that over the past few years it has been reducing the compensation caps at government departments, and was negotiating wage increases that didn’t break through these ceilings. [IOL]
- The NPA has published the 89-page indictment of former president Jacob Zuma, listing the charges he will face. Zuma is being charged with having illegal relationships with his convicted financial advisor, Shabir Shaik, and a French arms group, accepting bribes for ‘political protection’. [eNCA]
- The case against three former SARS executives has been postponed. The case is the same charge sheet that was used against Pravin Gordhan in 2016, which was ultimately dismissed. The trio said the charges were being pushed by ‘ulterior motives’, but the NPA says it has a solid case. The matter continues 18 June. [Daily Maverick]
- South Africa’s currency weakened against the dollar on Monday, slipping to its weakest in more than two weeks in a broad sell-off of emerging market currencies as fears of a U.S.-China trade war weighed on global risk appetite. On Tuesday the rand was trading at R12.05 to the dollar, R17.02 to the pound and R14.83 to the euro.
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