5 important things happening in South Africa today

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

  • President Cyril Ramaphosa secured around R360 billion rand of investment pledges from businesses on Wednesday, saying these would spur economic growth and reduce unemployment. But analysts said some of the pledges at South Africa’s annual conference to promote new investment opportunities were just regular operating costs and questioned whether those made by state-owned firms should be included in the total. [Reuters]
  • The Fiscal Cliff Study Group has told parliament that government has no option but to cut spending, and suggests that all bonuses to those employed by state owned enterprises be put on ice. The group said that the risks taken on by management of SOEs did not warrant any bonuses. It also pointed out that salaries increased by 66% over the last decade. [EWN]

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5 important things happening in South Africa today