5 important things happening in South Africa today

·20 Mar 2023

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

Shutdown day: The Economic Freedom Fighters (EFF) will attempt to shut down South Africa today, 20 March. The EFF is calling for an end to load shedding and the resignation of president Cyril Ramaphosa. Although the EFF has conducted several marches over the last decade, today’s is expected to be different, with the police and military being deployed. The EFF’s Julius Malema said that the protest will be peaceful but has called on members to retaliate if provoked. [EWN]

Bosasa-linked murders: The police are investigating two counts of murder after the suspected assassination of Cloete Murray – the court-appointed liquidator of African Global Operations (AKA Bosasa) – and his son, Thomas. Bosasa has been in liquidation since 2019, with several high-level executives implicated in corruption linked to state capture. A confidential 417 inquiry into Bosasa has been taking place for over a year, with politically-connected figures expected to testify before it. [Daily Maverick]

Home affairs investigation: Gordon Hollamby, the CFO at the department of home affairs, is being investigated for misconduct relating to an over R400 million biometric tender. Hollamby was expected to attend a four-day disciplinary hearing in February after an investigation conducted in 2019 into the selection of EOH for an automated biometric identification system. The probe affirmed findings from the Auditor-General, which had flagged the contract as irregular. [City Press]

From Russia with law: Spokesperson to the president, Vincent Magwenya, says the government is aware of its legal obligations regarding the proposed visit of Russia’s Vladimir Putin after the International Criminal Court (ICC) issued an arrest warrant against the Russian leader. Putin is expected to visit South Africa in August to attend a BRICS summit. Magwenya said the government will negotiate with various relevant stakeholders between now and the summit. [Reuters]

Markets: The South African rand was flat on Friday after a volatile week fuelled by fears of a global banking crisis and the implications for monetary policy. Investor sentiment remained fragile after turbulence sparked by the failure of Silicon Valley Bank and concerns over Credit Suisse, despite a $54 billion lifeline for the bank. On Monday (20 March), the rand was trading at R18.41/$, R19.65/€, and R22.43/£. Brent crude is trading at $72.31 a barrel. [Nasdaq]

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