Here’s what is happening in and affecting South Africa today:
- Old Mutual is again digging in its heels with its battle against CEO Peter Moyo, with the group preparing to meet the exec – which it has fired twice – in court. Moyo is suing the Old Mutual board for R250 million, and wants to have it declared delinquent. The market has not responded well to the saga, with R6.8 billion being wiped off the group’s market cap since it started. [IOL]
- Four people are vying for the top leadership role in the DA, including Helen Zille, Athol Trollip, Mike Waters and Thomas Walters. Despite the DA nixing negative campaigning for the spot of federal chair, Trollip, the former mayor of Nelson Mandela Bay, did say that Zille’s time with the DA had come and gone, and that her social media habits were damaging to the party. [Media24]
- Former president Jacob Zuma’s son, Duduzane, has been testifying before the state capture commission, and has denied all claims of wrongdoing and being involved in setting up meetings with the Gupta family where government positions were ‘handed out’. Zuma said his accusers were lying, and brushed aside all allegations of bribery, corruption and conspiracy. [Times Select]
- Dudu Myeni, the former chair of SAA who has been blamed for much of the airlines’s financial woes and gross mismanagement, has failed to appear in court, citing financial troubles. She said she cannot afford to make the trip from KwaZulu Natal to Gauteng. She has previously also failed to appear at proceedings intended to hold her to account. The court case has been brought by Outa, who is trying to get her declared a delinquent director. [ENCA]
- South Africa’s rand weakened against the dollar on Monday after China was reported to be reluctant to agree to a broad trade deal with Washington, casting doubts on trade talks due to start this week. On Tuesday the rand is trading at R15.15 to the dollar, R18.62 to the pound, and R16.62 to the euro.