5 important things happening in South Africa today

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

  • A senior State Security Agency (SSA) official has corroborated key aspects of a whistleblower’s testimony that the SSA was involved with the Public Protector’s remedial action for Absa bank – where she overreached her mandate in ordering that the Constitution be changed to alter the Reserve Bank’s mandate. The whistleblower said via affidavit that the Public Protector was handed a typed note containing the order, written up by the SSA. [News24, amaBhungane]
  • Eskom COO Jan Oberholzer says that whether people believe it or not, there was definitely sabotage at Eskom’s Tutuka power station, and the SAPS are investigating the matter. The executive also said that the sabotage wasn’t the cause of stage 6 load shedding, but it did have an impact. He blamed widespread corruption and greed for the persistent problems at the power utility, which he said ran straight through the company all the way to suppliers and contractors. A plan to resolve issues at Medupi and then other stations will be implemented from early January. [City Press]
  • Overnight trade saw the rand briefly break below the R14.35/$ mark, as markets continue to thrive on the trade agreement news. At the weekend, a White House official announced that a “phase one” trade deal had been completed, although the details still remain elusive. For buyers of foreign currency, these are excellent levels. However, should the euphoria continue we can even look for a break below the R14.30 mark. On Tuesday the rand was at R14.36 to the dollar, R19.09 to the pound and R16.01 to the euro.

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5 important things happening in South Africa today