Here’s what is happening in and affecting South Africa today:
- South African Airways will need government funding to the tune of R22 billion over the next three years to become profitable again. According to SAA CEO Vuyani Jarana, the funding would need to be part government injections, and part debt raised, but guaranteed by government. SAA has already received billions in bailout from government. [Business Live]
- Eskom is trying to pin its Gupta ties and dodgy contracts on the one person who blew the whistle on the whole operation – suspended head of legal and compliance, Suzanne Daniels. She is being accused of feeding “commercially sensitive information” to third parties, among many other dubious activities. [Daily Maverick]
- President Cyril Ramaphosa has rejected most of suspended SARS boss Tom Moyane’s demands, and has effectively dared him to take the matter to court. Moyane faces disciplinary action on charges of mismanagement of SARS funds. He demanded that the state pay his legal costs, and that he be given full salary and bonuses. [Times Live]
- Following South Africa’s decision to pull its ambassador from Israel, home affairs minister Malusi Gigaba is taking a proposal to review the visa agreement it has with the middle-eastern nation to parliament. It is argued that the visa arrangements between SA and Israel are imbalanced, and there were concerns of those with dual citizenship taking part in the conflict. [News24]
- South Africa’s rand fell more than 2% against the dollar on Tuesday, hurt by a greenback which drew strength from rising US bond yields, while stocks ended lower. On Wednesday the rand was trading at R12.56 to the dollar, R16.96 to the pound and R14.86 to the euro.