Here’s what is happening in and affecting South Africa today:
- Former president Thabo Mbeki has warned against the ANC’s plan to nationalise the Reserve Bank, saying that it will achieve very little. He said the bank’s mandate would not change, and that what it is already doing is exactly what the government set out to do. [IOL]
- Motorist could be in for a painful May after a sudden slide in the rand/dollar exchange rate and rising oil prices combine for a bigger increase at the pumps. The trend also does not look like it will be reversing any time soon, as local and international factors continue to weigh. [Business Day]
- The SABC has dismissed its latest COO, Chris Maroleng, after he was found guilty on three charges in an internal disciplinary process. The SABC did not divulge the details of the dismissal. Maroleng said he was devastated by the move and is considering legal options. [ENCA]
- Public enterprises minister Pravin Gordhan is squaring off with the Public Protector. His legal team is demanding that the PP provide evidence of her claims of collusion, and why Gordhan is implicated in her investigation. The minister has committed to following the required processes. [EWN]
- South Africa’s rand fell more than 1% on Tuesday as a firmer US dollar weighed on developing world currencies, while stocks closed higher. On Wednesday the rand was at R14.36 to the dollar, R18.52 to the pound and R16.05 to the euro.