5 important things happening in South Africa today
·10 Sep 2018
Here’s what is happening in and affecting South Africa today:
- Bain & Company has parted ways with its managing partner in South Africa, and is offering to pay back the R164 million it was paid for its work as SARS. This comes off the back of damning testimony against the company in the SARS commission, which is investigating governance issues at the revenue service. [CNBC Africa]
- The ANC has rejected weekend reports claiming that senior officials, including former president Jacob Zuma and secretary general Ace Magashule, were plotting to oust Cyril Ramaphosa. The party called it shameless gossip, with the intent to paint secretary general in a bad light. [Reuters]
- The Zondo commission into state capture continues today, with testimony expected from Treasury. Judge Zondo will also make a ruling this week on whether witnesses can be cross examined by the accused, and whether the Guptas can do so via video link to Dubai. [eNCA]
- The City of Cape Town has announced it will be easing water restrictions from level 6B to level 5 from 1 October 2018. This will allow residents to increase the water use from 50 litres per day to 70 litres per day. Tariffs will also be eased, the city said. [Mail & Guardian]
- South Africa’s rand continued to recover on Friday as a narrowing of the current account deficit helped ease some of the shock of the economy tripping into recession, while profit-taking on the recent slump also aided the currency. On Monday the rand was at R15.26 to the dollar, R19.70 to the pound and R17.62 to the euro.
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