5 important things happening in South Africa today
·30 Nov 2018
Here’s what is happening in and affecting South Africa today:
- A new investigation suggests that the EFF benefitted from a R1.2 billion fleet contract in the City of Joburg. The report alleges that the EFF influenced the tender process – however it also casts the DA in a bad light, implying that the party gave the EFF authority in the city to do so. [Daily Maverick, 702]
- Around R400,000 of the billions looted from VBS Mutual Bank was used as a deposit to for a R2.7 million flat for EFF deputy president Floyd Shivambu. A weekend report said that the apartment was robbed and Shivambu’s belongings were stolen – however the politician now denies this took place, or that he lives there. [Mail & Guardian]
- President Cyril Ramaphosa has responded to disgraced SARS commissioner Tom Moyane’s case against his firing – saying that Moyane is not fit or entitled to lead SARS. The president said Moyane is chasing only his own personal interests and not thinking about the needs of the country. [Business Day]
- The state capture commission has heard how former minister Malusi Gigaba had lied to parliament, and fought against the board of SAA to influence the failing group’s business operations. He allegedly tried to get SAA to drop a lucrative route to Mumbai so that a Gupta-linked company could pick it up. [IOL]
- South Africa’s rand firmed against a softer dollar on Thursday, in line with emerging markets and a fall in bond yields, as dovish comments from US Federal Reserve Chairman Jerome Powell boosted demand for riskier assets. On Friday the rand was at R13.66 to the dollar, R17.46 to the pound and R15.57 to the euro.
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