5 important things happening in South Africa today
·10 Dec 2018
Here’s what is happening in and affecting South Africa today:
- Along with the inconvenience and frustration of load shedding, police are also reporting higher rates of crime while rolling blackouts are in effect. The national police service has warned citizens to be on high alert over the festive season, particularly when on holiday and letting your guard down. [EWN]
- Relief for those in debt is on the way following a court ruling dismissing a challenge to new regulations that will reduce the monthly interest rate on short term loans. Micro lenders challenged the move saying it would put them out of business. [IOL]
- Further investigations into ties between the EFF and the VBS looting scandal have revealed that the failed bank helped EFF deputy Floyd Shivambu with a R1.46 million home loan – despite not qualifying – which is registered to a slash fund managed by Shivambu’s brother, Brian. [Daily Maverick]
- Disgraced auditing firm KPMG is trying to salvage its damaged reputation in South Africa, with the group’s chairman publishing an open letter to South Africans, apologising for the group’s scandals, saying that it is a different company now. The group is also donating R47 million in ill-gains from the Guptas to NGOs. [ANA]
- South Africa’s rand gained against a softer dollar on Friday as bond yields fell and stocks rebounded, however, the currency remained on track for its worst weekly performance since early October. On Monday the rand was trading at R14.13 to the dollar, R18.01 to the pound and R16.14 to the euro.
Loading ...