Business

5 important things happening in South Africa today

Staff Writer

 ·1 Nov 2018

Here’s what is happening in and affecting South Africa today:

• The Public Protector has called for swift action against home affairs minister Malusi Gigaba for lying under oath. Her office called on the president to take action against him within 14 days. The protector found that Gigaba lied about his testimony in the case where the Oppenheimers tried to open a private terminal at OR Tambo. [Reuters]

• The DA could be in for a shock at the polls in next year’s elections, political analysts say, due to the large public spat between the party and Patricia de Lille – exacerbated by her sour divorce from the party this week. Analysts point to the heightened possibility of a splinter party or breakaway movement. [EWN]

• A new report has implicated at least 20 ‘top cops’ in corrupt behaviour and has recommended that action be taken against them. Those implicated are alleged to have been involved in the irregular reservation of R35 million from the Forensic Services Criminal Justice System Budget without seeking and obtaining approval from National Treasury. [Daily Maverick]

• The SABC says it has no choice but to retrench people as the group is technically insolvent and cannot fulfil its mandate. It has started the process of retrenching almost 1,000 workers (a third of its workforce) and 1,200 freelancers (half of its freelance base). [Mail & Guardian]

• South African markets sharply diverged on Wednesday, with stocks tracking a global rally higher while the rand yielded ground to a resurgent dollar. On Thursday the rand was trading at R14.72 to the dollar, R18.92 to the pound and R16.70 to the euro.