5 important things happening in South Africa today
·9 May 2018
Here’s what is happening in and affecting South Africa today:
- US president Donald Trump announced that he would be pulling out of a deal involving Iran’s nuclear programme, and is said to be stepping up sanctions against the nation. The net effect of this is still to be seen, but the oil markets are expected to be hit hard, which, when coupled with the weakening rand, spells trouble for fuel prices in South Africa. [eNCA]
- North West premier Supra Mahumapelo says he will step down from the position, hopefully bringing to an end weeks of violent protest and unrest in the province. He was a close ally of former president Jacob Zuma, and stood accused of maladministration and corruption. His resignation should strengthen president Cyril Ramaphosa’s grip on the ANC, analysts say. [Bloomberg]
- Crime tracking and emergency assistance app Nomula says that cash-in-transit heists have more than quadrupled in the past year, as heavily armed criminals and gangs of up to 20 people increasingly target the vehicle, going after a big cash prize. According to the group, the attacks have also become more violent. [Times Live]
- The DA has acknowledged that its messy and very public dealings with Patricia de Lille have harmed the party’s image – and analysts say it may damage the party’s chances in the 2019 general elections. Deputy federal chair, Natasha Mazzone, said the situation has done immeasurable damage to the DA brand. [Reuters]
- The rand fell for a second straight session on Tuesday, tracking other emerging market currencies as the dollar index surged to a new 2018 high ahead of US President Donald Trump’s verdict on the Iran nuclear deal. On Wednesday, the rand was trading at R12.60 to the dollar, R17.04 to the pound and R14.94 to the euro.
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