5 important things happening in South Africa today
·27 Aug 2018
Here’s what is happening in and affecting South Africa today:
- South Africa’s banks are either downplaying or being coy around the risks they face with government’s push for land expropriation without compensation. While the likes of Absa say that its agricultural land books are growing, other banks like Standard Bank and FNB say they’re keeping a close eye on developments. [IOL]
- Following a few new bombshells being dropped by former deputy finance minister Mcebisi Jonas at the state capture inquiry, former ANC MP Vytjie Mentor will be next to testify. Mentor previously claimed that she too was offered a position as a minister by the Gupta family, in exchange for an Indian air route. [EWN]
- The ANC is calling for fresh elections in the two Gauteng metros they lost in 2016. The ruling party is confident that Tshwane mayor Solly Msimanga will be ousted in an EFF-sponsored vote of no confidence, over allegations of corruption. The DA has shrugged it off, calling it politicking. [Mail & Guardian]
- South Africa’s local agriculture industry, including farmers and organisations representing the industry, are still reacting to US president Donald Trump’s bid to get involved in the country’s land reform. Farmers are telling the president to back off, while groups are stressing that South Africa is not heading for a Zimbabwe situation. [News24]
- South Africa’s rand firmed on Friday as the dollar fell, regaining poise after a sharp dip in the previous session after US President Donald Trump’s tweet about land reform. On Monday the rand was trading at R14.28 to the dollar, R18.35 to the pound and R16.59 to the euro.
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