5 important things happening in South Africa today
·7 May 2019
Here’s what is happening in and affecting South Africa today:
- The IEC official responsible for ‘losing’ three ballot boxes in Limpopo has been suspended. The boxes were found on the side of the road in the province yesterday, sparking fears of election rigging. The IEC, however, said that the boxes fell off the back of a vehicle during transport. [TimesLive]
- There is speculation the minister in the presidency Nkosazana Dlamini-Zuma could be appointed as deputy president of the country after the elections – and she says she’s open to it. Dlamini-Zuma went up against, and ultimately lost to Cyril Ramaphosa in the bid for the presidency. [ENCA]
- South Africa’s savings rate is at an all-time low – and is probably around 0%, according to analysts. A slow economy and high unemployment means South Africans have no money to save – while easy access to credit and the ability to dip into retirement funds are also a deterrent. [702]
- A party in South Africa needs 0.25% of the vote to score a seat in parliament – and start earning R91,000 a month. The IEC estimates that 70% of the 26.7 million registered voters will turn up on the day (18.7 million), meaning a party needs just under 47,000 votes to get this cushy position. [Moneyweb]
- The South African rand weakened on Monday as the country heads for national elections on Wednesday while worries over the trade war between the US and China curbed emerging market currencies and shares. On Tuesday the rand was at R14.43 to the dollar, R18.94 to the pound and R16.18 to the euro.
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