5 important things happening in South Africa today
·22 Aug 2018
Here’s what is happening in and affecting South Africa today:
- Suspended SARS chief Tom Moyane’s sanctioned R200 million plan to fix issues at the tax collector was unnecessary, and resulted in needed processes being shuttered and overall collection to decline. This is the evidence submitted to the Commission of Inquiry into SARS by two SARS officials. [Daily Maverick]
- Eskom faces yet more wage issues, with 6,700 line managers and other workers reportedly making demands for the same wage increases as workers in the collective bargaining unit. Eskom is currently struggling to finalise those wage talks, but has offered 7.5% increases for the year, and a once-off R10,000 bonus. [Business Day]
- Plans to build a town on the doorstep of Jacob Zuma’s Nkandla home – dubbed “Zumaville” – are reportedly up in smoke, with millions of rands of taxpayers’ money already spent and wasted. The town would have cost R2 billion to build, but to date only a small IT centre has been completed. [Times Live]
- Parliament has summoned Steinhoff’s former chief executive Markus Jooste and and ex-chief financial officer Ben la Grange to give evidence in an inquiry over the accounting scandal at the firm. The duo will have to answer for the scandal that wiped 90% of the company’s value from the markets. [Reuters]
- South Africa’s rand firmed on Tuesday as the dollar weakened after US President Donald Trump criticised the head of the Federal Reserve for raising interest rates. On Wednesday the rand was at R14.37 to the dollar, R18.55 to the pound and R16.63 to the euro.
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