Here’s what is happening in and affecting South Africa today:
- Finance minister Tito Mboweni wants South Africa to devise a comprehensive water plan, amid estimates that the country’s water demand will outstrip supply by 2 million cubic metres in the next 10 years. The minister is proposing a system similar to the Independent Power Provider scheme used with electricity, along with drawing investment, and establishing an independent water regulator. [Mail & Guardian]
- The latest investigation by Scorpio into the looting of VBS has revealed how EFF leader Julius Malema’s lavish lifestyle was funded through millions of rands paid to his cousin’s shelf company, from the company owned by Floyd Shivambu’s brother. The companies reportedly received as much as R16.1 million from the looting of VBS, of which, around R5.3 million was claimed to be tied directly to Malema. [Daily Maverick]
- Public protector Busisiwe Mkhwebane wants to meet with president Cyril Ramaphosa privately to discuss a number of issues relating to their very public spats. Mkhwebane said she wants to avoid a battle through the media. She has lost several high-profile court battles pertaining her reports, and claims that the judiciary is unfairly ganging up on her – and being inconsistent in the rulings. [City Press]
- Violent protests and looting once again erupted over the weekend, resulting in one dead and five people injured. The acts form part of the continued protest action against foreign nationals in South Africa, and were perpetrated by a splinter group of hostel residents that gathered to march. 16 people were arrested. Police have warned people to steer clear of the Joburg CBD, and especially the taxi ranks. [IOL]
- The rand starts the week on the front foot, holding onto last week’s gains. On Friday, the Fed stated that a recession in the US is unlikely in its view, but added that it will act appropriately to support the economy and the 2% inflation target. The trade war remains the greatest risk factor for currencies and the US economy, with uncertainty undermining trade amongst businesses. On Monday the rand was at R14.79 to the dollar, R18.16 to the pound and R16.31 to the euro.