Here’s what is happening in and affecting South Africa today:
- Public Protector Busisiwe Mkhwebane is widening her investigation into president Cyril Ramaphosa to now include allegations of money laundering relating to his CR17 campaign. Ramaphosa’s camp called the move bizarre, while the DA is attempting to distance itself from the investigation, which is moving beyond its original complaint. [Business Day]
- The ANC appears to be headed for a showdown with itself, with apparent backers of Ace Magashule and former president Jacob Zuma now sitting in crucial portfolio committee positions, and reportedly vowing to give Cyril Ramaphosa’s ministers a hard time. A Magashule ally in the NEC told the City Press that they would use the position to ‘marshal’ Ramaphosa’s team – particularly those who refuse to implement the ANC’s resolutions. [City Press]
- Investors are worried about government’s promise to deliver more bailouts to Eskom. While the move to bring forward the debt rescue plan is good news for the crisis-hit power utility – there is still no clarity on the actual plan of action for the group, which has irked investors. Until there is a clear plan, and the actual numbers have been made public, there is no way to determine the fiscal impact of the move. [Bloomberg]
- The City of Joburg says that it has identified 37 buildings that it can expropriate to convert into affordable housing units. The buildings are abandoned factories, which could yield nearly 3,000 housing opportunities in multi-storey buildings. The identified buildings are in Kew, Devland, Rabie Ridge, Doornfontein, Booysens and Nancefield. [TimesLive]
- South Africa’s rand firmed up slightly on Friday, clawing back some of its losses following President Cyril Ramaphosa’s state of the nation address, which some analysts said lacked detail on how he plans to fix the flagging economy. On Monday, the rans was at R14.31 to the dollar, R18.25 to the pound and R16.29 to the euro.