Here’s what is happening in and affecting South Africa today:
- South Africa is weighing extra options to support Eskom, including swapping the financially troubled state power firm’s debt for government bonds or ring-fencing it in a special account, a senior treasury official said. [Reuters]
- The DA has responded to the EFF’s notice of ‘divorce’, which could send major metros into a state of leadership collapse, saying that it is willing to negotiate with the EFF to find common ground – but it will not sacrifice its principles to do so. [EWN]
- New research shows that the reason the ANC is so divided by the mandate of the Reserve Bank is because it has only become a point of discussion in the last few years – with the party not holding much of any position when it took over in 1994. The researchers suggest that it’s a debate worth having – but needs to be done from an informed position, with evidence backing any changes. [Moneyweb]
- The State Capture commission has heard how the Gupta family was able to land at the Waterkloof Air Base in 2013 for the now infamous wedding. The commanding officer at the base initially refused to let them land, but later then allowed it after political pressure from above. It is alleged that the officer was told to proceed as it was a political matter. [IOL]
- South Africa’s rand was little changed late on Wednesday, struggling for momentum along with stocks as worries that a prolonged US-China trade war will slow global growth put emerging markets under pressure. On Thursday, the rand was at R14.07 to the dollar, R17.71 to the pound and R15.88 to the euro.