Here’s what is happening in and affecting South Africa today:
- With the full list of Parliamentarians and provincial leaders handed over, Chief Justice Mogoeng Mogoeng has urged South Africa’s elected officials not to betray the people who voted them into power. He pleaded with them to not be corrupt, and to work together to help rebuild the country. [City Press]
- Ratings agency Moody’s says that now the elections are done, the new government needs to focus on addressing South Africa’s main credit challenges — low growth, rising debt, state-owned enterprises and weakened institutions. If these are not addressed, the country’s credit profile will continue to deteriorate, it said. [Business Day]
- Capitec has been given the all clear to acquire Mercantile Bank – with no conditions attached. The Competition Tribunal has given the deal the thumbs up, which will pave the way for Capitec to enter the business banking market. [IOL]
- More than 400 new CCTV cameras have been put up around the City of Joburg, with 100 agents in a 24-hour operations centre keeping an eye out for crime and other suspicious behaviour around the city. It forms part of the city’s new push to take on escalating crime. [ENCA]
- South Africa’s rand strengthened on Wednesday alongside emerging market currencies on hopes of more stimulus for China’s slowing economy, but local stocks dipped after data showing another weak month for retail sales. On Thursday the rand was at R14.25 to the dollar, R18.32 to the pound and R15.98 to the euro.