Here’s what is happening in and affecting South Africa today:
- South Africa is experiencing a mixed bag of economic events and indicators this week. A R3 billion investment from Nissan for South Africa and a stronger rand are coming amid downward revisions to GDP forecasts for the country, a dip in business confidence and slowing in consumer spending. [Bloomberg]
- ANC secretary general Ace Magashule and his supporters – particularly the Free State ANC Youth league – found themselves abandoned by the party, after it issued statement after statements condemning the league’s plans to burn books detailing corruption allegations against Magashule. [Daily Maverick]
- Former president Jacob Zuma has vehemently denied that he is holding onto late Libyan dictator Muammar Gaddafi’s missing millions, as reported by the Sunday Times. He said he was surprised to read he had the millions, while he was struggling to pay for his many legal fees. [ENCA]
- The use of entrance exams for private schools have been criticised by some parents as a way for the schools to exclude certain learners, and have been branded elitist. Private schools denied this, saying they are used to determine level of skill, and inform where to place prospective learners. [TimesLive]
- South Africa’s rand firmed below the R14.00 threshold on Wednesday for the first time in six weeks as a softer dollar boosted investor appetite for emerging markets. On Thursday the rand was at R13.94 to the dollar, R18.25 to the pound and R15.72 to the euro.