5 important things happening in South Africa today
·17 Jul 2018
Here’s what is happening in and affecting South Africa today:
- SARS is pulling out all the stops in its bid to undo the “near disastrous” policy changes made under suspended head Tom Moyane, as tax season gets into full swing. One of Moyane’s changes now coming back into focus was the dismantling of the Large Business Centre, which focused on multinational companies and high net worth individuals. [News24]
- Eskom is threatening to cut power to two municipalities in the Free State due to non-payment. Should the Tokologo and Nala municipalities not pay up, power will be cut for 6 hours at a time, moving up to 14 hours if payment is not received by 24 July. [eNCA]
- President Cyril Ramaphosa says that the ruling ANC rejects the notion of nationalising all the land in the country, saying that the land redistribution plans involve willing land-owners who want to be part of the solution. [Bloomberg]
- AfroVoice lead Mzwanele Manyi says that the group’s links to the Gupta family – which owned the paper before as The New Age – was what killed any hope of the company being rescued from financial straits. Manyi submitted an affidavit requesting the TNA Media be liquidated. [IOL]
- South Africa’s rand rallied to a new one-month high on Monday, maintaining a surprise run fuelled by an uncertain dollar trajectory and a tidy return for investors looking for high yields outside developed markets. On Tuesday the rand was trading at R13.22 to the dollar, R17.51 to the pound and R15.48 to the euro.
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