5 important things happening in South Africa today
·21 Nov 2018
Here’s what is happening in and affecting South Africa:
- Pravin Gordhan has challenged the EFF and his other detractors to appear before the state capture commission to present their evidence and claims of him being a part of state capture. He said should be willing to go under oath and open themselves to cross examination. The EFF said it will testify when ready. [EWN]
- Momentum has acceded to public demands that it pay R2.4 million to a Durban widow whose husband died protecting her in a violent crime. The payout was given under a new policy change at the group, where it has added a special clause for circumstances where policy holders die in violent crimes. [ENCA]
- Former president Jacob Zuma has signed onto Tom Moyane’s court battle against president Cyril Ramaphosa as he fights to get his job at SARS back. Zuma has submitted an affidavit saying that Ramaphosa never had the power to fire Moyane as commissioner as his performance was never the scope of the SARS inquiry. [702]
- Moody’s says that a tariff hike for Eskom – said to be 15% each year for the next three years – will go a long way to propping up the company and boosting its credit profile. Eskom is under severe financial pressure as it fights to keep the country’s lights on. [IOL]
- South Africa’s rand weakened on Tuesday in line with some other emerging market currencies as a dollar rally, trade tensions and US Federal Reserve comments on global growth dimmed investor appetite for riskier assets. On Wednesday the rand was at R14.08 to the dollar, R18.01 to the pound and R16.02 to the euro.
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