5 important things happening in South Africa today
·8 Aug 2019
Here’s what is happening in and affecting South Africa today:
- The NHI Bill and funding model is expected to be published today, where South Africans will finally learn how the government plans to pay for the scheme. According to reports, government is planning a single national pricing regimen and a surcharge on personal income tax, as well as an employer tax, and a minor role for medical aids. [Times Select]
- Reserve Bank Governor Lesetja Kganyago says that South Africa’s credit rating is entirely in the government’s hands. He says the ratings is a reflection of the policies that are in place, and that if the government actually fulfils its promises and creates an environment of certainty, the credit rating will reflect that. He stressed that this is also reason why the central bank should remain independent, outside the political sphere. [ENCA]
- The High Court will rule on president Cyril Ramaphosa’s bid for an interdict against Public Protector Busisiwe Mkhwebane‘s order that he discipline Pravin Gordhan today. Meanwhile the Hawks have confirmed that they are investigating the Public Protector, based on a complaint laid by anti-corruption group Accountability Now. [News24, ENCA]
- Former Eskom boss Brian Molefe has been ordered to pay back the R10 million he received as part of an unlawful pension payout. In 2017, Molefe and the former Eskom board conspired to pay him R30 million for retirement, a payout of 10 years’ work, when he had only been there for 15 months. The courts found the payment to be unlawful, and also invalidated Molefe’s bid to get his job back. [Daily Maverick].
- South Africa’s rand fell to touch an 11-month low on Wednesday, rocked by deepening concerns about the outlook for domestic growth against a backdrop of uncertainty for emerging markets more broadly. On Thursday the rand was at R14.99 to the dollar, R18.23 to the pound and R16.80 to the euro.
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