5 things you need to know in South Africa today
·29 Sep 2016
Here’s what is happening in and affecting South Africa today:
- Wits university will run a poll today to gauge how keen students are to return to classes, as universities across South Africa remain closed, with the rest of the academic year under threat. Wits students are attempting to get a court interdict to stop the poll, but it is continuing, irrespective of the challenge. Student protests are getting increasingly violent as students clash with police in their fight for free education.
- The Tshwane municipal council is facing am uphill battle for order as DA and ANC councillors continue to clash in meetings, which culminated in an altercation between members that ended with the SAPS and security getting called in. Mayor Solly Msimanga has met with Gauteng MEC Paul Mashatile to discuss the issue. Mashatile dismissed speculation that the municipality would be put under administration.
- A controversial decision by the former Joburg council to approve the re-zoning of the Gupta compound in Saxonwold so that its structures would be legal will be investigated by the new administration. The decision to approve the rezoning was taken a week before the local government elections. The mansions built on the property are too big for the land, and the Gupta family wanted their property rezoned to make it legal.
- The National Credit Regulator has withdrawn a complaint and accusation of reckless lending against Capitec bank, after seven months of investigation. The investigation centred around a complaint that Capitec had exploited its clients through a one-month loan facility. The bank, however, explained that the complainant – Summit Financial Partners – had simply misunderstood how the product in question operated.
- South African stocks rose on Wednesday, helped by international retail group Steinhoff. The rand weakened more than one percent, under pressure after a recent rally as risk appetite globally was dented by firm U.S. economic data and criticism by German lawmakers of the European Central Bank’s ultra-low interest rates policy. On Thursday the rand was trading at R13.62 to the dollar, R17.74 to the pound and R15.29 to the euro.
In other news: South African film, Noem My Skollie, has been selected as the movie put forward as South Africa’s entry into the foreign film category at the Academy Awards. The movie is based on a true story, and revolves around a prisoner who tries to avoid joining the infamous numbers gang and instead becomes a story teller.
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