5 important things happening in South Africa today
·19 Mar 2019
Here’s what is happening in and affecting South Africa today:
- Eskom is looking for another R7 billion to upgrade its Medupi power station. Despite being way behind schedule and blowing its budget by billions of rands, the Medupi station has only activated half of its generating units. Stage 4 load shedding will continue on Tuesday. [IOL]
- Parliament’s portfolio committee on home affairs has found that former minister Malusi Gigaba was incorrect to fast-track the naturalisation of the Guptas, and has recommended that their South African citizenship should be revoked. The Guptas have fled to Dubai and refuse to return to South Africa. [TimesLive]
- Land redistribution without compensation is going to end up in the courts, and will take a decade to resolve, according to the PAC, who says that land reform has already taken far too long. The party says those affected will fight with everything they have to ensure it does not happen. [TimesLive]
- State capture testimony has brought former public enterprises minister Lynne Brown into the mix, with claims that Brown took control of processes at Denel, which ultimately ended up aiding the Guptas with contracts. [Daily Maverick]
- South Africa’s rand weakened on Monday after power utility Eskom said it would carry out more power cuts this week as it struggles with capacity shortages, weighing on investor sentiment. On Tuesday the rand was at R14.42 to the dollar, R19.15 to the pound and R16.37 to the euro.
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