5 important things happening in South Africa today
·25 Feb 2019
Here’s what is happening in and affecting South Africa today:
- President Cyril Ramaphosa has appointed a special tribunal to fast-track corruption cases being investigated by the SIU. The tribunal will adjudicate over any civil proceedings brought before it by the SIU. [Reuters]
- South Africa will get its first fully-fledged smartphone factory, which is opening up in a special economic zone north of Durban. The factory is being built by Mara Group and Dube Tradeport, and will produce affordable smartphones ‘for Africans by Africans’. [Moneyweb]
- South Africa is committed to expanding its renewable energy programmes, the energy department said, as costs in the sector have come down. However, the department said it isn’t looking to renegotiate previous contracts. Renewable energy currently makes up less than 5% of SA’s power. [Bloomberg]
- The ANC finds itself with another pre-election controversy, this time with allegations that its acting national spokesperson, Zizu Kodwa is guilty of a sexual crime. Kodwa has denied the allegations, saying that they are a political campaign against him and the party. [Daily Maverick]
- South Africa’s rand strengthened against the dollar on Friday, ending the week marked by the annual budget higher, after Moody’s signalled the nation’s spending plans did not weaken its policy credibility. On Monday the rand was at R13.98 to the dollar, R18.26 to the pound and R15.85 to the euro.
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