5 important things happening in South Africa today
·30 Apr 2019
Here’s what is happening in and affecting South Africa today:
- President Cyril Ramaphosa says that the ANC allowed state capture to happen, admitting that state institutions were targeted with members of the party used as a gateway into them. Ramaphosa said that admitting fault was a key tool in turning things around and rooting out corruption. [ENCA]
- Young voters have turned their backs on South African politics, with registered voters in this populations group dropping to its lowest point since 1999 – barely making it past half the number that were registered to vote in 2014. Apathy has been bred from empty promises, high unemployment and corruption, analysts say. [Bloomberg]
- South Africa’s residential property market has tanked, according to analysts, with rental property standing open at the highest levels on record. 7% of rentals are unoccupied, going as high as 8.1% in Cape Town. 94% of property owners had to lower their price by 9% to make a sale. [702]
- Ford South Africa has announced a plan to resolve security issues in some of its older models of the Fiesta and EcoSport, which have made them targets for criminals in recent months. The fix will make it that the car’s alarm will sound when accessed through a broken lock. [IOL]
- South Africa’s rand firmed against a steady dollar on Monday, as investors looked ahead to key offshore events including a report from the US central bank, while stocks fell. On Tuesday the rand was at R14.34 to the dollar, R18.56 to the pound, and R16.04 to the euro.
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