5 important things happening in South Africa today
·7 Aug 2018
Here’s what is happening in and affecting South Africa today:
- The latest revelation in the VBS Mutual Bank saga is that the group had pinned all its hopes on Nkosazana Dlamini-Zuma winning the ANC presidential election, which would have led to R1 billion being deposited in the bank’s accounts from Prasa. [City Press]
- A damning exposé on deputy president David Mabuza by the New York Times has been met with silence from the ruling party back home. The NYT report made bold claims against Mabuza, including alleging that he siphoned off million from Mpumalanga schools to buy power and influence. [Daily Maverick]
- The DA has moved to clarify the confusion over its stance on BEE, which has apparently divided the party. According to the party, it rejects the ANC’s ‘BBBEE’ policy which has created a wealthy black elite, and wants to instead adopt a different policy that will truly empower the majority of South Africans, but in non-racial terms. [702]
- The SABC has u-turned on its statement that it no longer has enough money to keep broadcasting soccer games, after convening a special meeting with the ministers of communications and sports. The broadcaster initially said it lacked the liquidity to acquire the broadcasting rights. It currently owes content providers R100 million. [News24]
- South Africa’s rand weakened on Monday as emerging markets were knocked by a retreat in risk demand, with investors opting for safe bets as trade tensions rose between Washington and Beijing. On Tuesday the rand was at R13.42 to the dollar, R17.37 to the pound and R15.51 to the euro.
Loading ...