Business

5 important things happening in South Africa today

Staff Writer

 ·27 Aug 2019

Here’s what is happening in and affecting South Africa today:

• Hundreds of medical professionals sat down to listen to health minister Zweli Mkhize talk about the NHI, seeking answers to key questions – but left none the wiser. Mkhize could not provide doctors with any information on how much NHI would cost or what services it would provide. However, it was clarified that medical aids still have a role to play – in the members who ignore the provisions of the NHI could be able to claim from a medical scheme. [Moneyweb]

• A small victory in the VBS looting scandal has seen two former executives of the bank being declared as delinquent directors and debarred by the Financial Sector Conduct Authority. The executives were found to have aided in corrupt activity at VBS, in which billions of rands were plundered from the bank, leaving depositors – mostly the poor in Limpopo – without money. [Daily Maverick]

• Despite protests to the contrary, suspicions are being raised that the death of Bosasa CEO Gavin Watson involved foul play. Some within the ANC suspect that his death was part of “bigger things” at play, considering the proximity to Watson’s day before the state capture commission – while the Watson family is looking to have his death independently investigated. [EWN, ENCA]

• Gauteng could be the next location for a ‘day zero’ water crisis, experts have warned, with an increased risk of the region running dry should another drought hit the country. According to Mike Muller, adjunct professor at the University of the Witwatersrand School of Governance, a report on what to do to avoid day zero in Gauteng was already brought to the attention of authorities in the province a year ago. [News24]

• South Africa’s rand firmed in afternoon trade on Monday as the United States and China sought to ease trade war tensions while investors also looked to a slew of domestic economic data later in the week for clues on the health of the economy. On Tuesday the rand was at R15.30 to the dollar, R18.69 to the pound and R16.98 to the euro.