Here’s what is happening in and affecting South Africa today:
- President Cyril Ramaphosa has stepped into the legal battle between public protector Busisiwe Mkhwebane and public enterprises minister Pravin Gordhan. Ramaphosa has filed papers asking the court to declare that he had followed the recommendations of the public protector as directed. Mkwhebane’s report said the president should note the findings and take action – Ramaphosa said he had done so, but argus the disciplinary action was left to his discretion. [M&G]
- Former president Jacob Zuma spent his first day before the state capture commission denying any wrongdoing, and dropping counter-claim bombshells against his critics. Among some of the shocking claims was that former minister Ngoako Ramatlhodi, who implicated Zuma in corruption, was a spy – and that Zuma was a target for assassination by suicide bombers. [ENCA]
- Ex-Old Mutual CEO Peter Moyo is heading to court today to challenge his dismissal by the financial services group. Old Mutual dismissed Moyo after the board claimed there was a breakdown in trust and communication over an alleged conflict of interest. Moyo wants to the dismissal declared unconstitutional and the board declared delinquent directors. [News24]
- Eskom is continuing to lose key talent with the resignation of group treasurer André Pillay at the end of August. This is on top of the exit of CEO Phakamani Hadebe at the end of July, after just two years at the group. While Hadebe is leaving for health and family reasons, Pillay said he was offered a job elsewhere. Eskom has been a revolving door of executives over the last decade, which has played a key role in the group’s instability. [Daily Maverick]
- South Africa’s rand firmed on Monday as bets the Federal Reserve will cut interest rates next week continued to boost the currency in the absence of any local economic drivers, on a day dominated by ex-president Jacob Zuma’s testimony at a graft inquiry. On Tuesday the rand was at R13.90 to the dollar, R17.40 to the pound and R15.65 to the euro.