Here’s what is happening in and affecting South Africa today:
- Fraud on a massive scale has been uncovered by the SIU in government’s land reform programme – with the unit recommending that 42 officials be prosecuted. According to the SIU report, thousands of supposed beneficiaries of the programme weren’t even aware of it, and had not even visited the land in question. [Business Day]
- A bailout for Zimbabwe is still very much on the table, according to International Relations minister Lindiwe Sisulu – as long as it is affordable. Treasury has previously rejected financial relief for SA’s northern neighbour, saying that we simply cannot afford it. However, government officials are adamant that we will go to their aid. [IOL]
- The NPA is expected to provisionally withdraw corruption charges against former president Jacob Zuma’s son, Duduzane, who was implicated in blackmailing officials with the Gupta family. Legal analysts have said the withdrawal points to a lack of strategy between the NPA and investigators when tackling state capture allegations. [EWN, 702]
- South Africa’s carbon tax will kick in from 1 June 2019 – but many businesses are not ready for it. Analysts have noted that delays in adopting the laws have led to complacency among corporates – while the final regulations are incomplete or outstanding. [Moneyweb]
- The South African rand rallied against a weaker dollar on Wednesday as top trading partner China pledged more fiscal spending to support its own slowing economy. On Thursday the rand was at R13.84 to the dollar, R18.09 to the pound and R15.76 to the euro.