5 important things happening in South Africa today
·2 Oct 2017
Here’s what is happening in and affecting South Africa today:
- Johann van Loggerenberg, who was in charge of SARS’ High-Risk Investigation Unit, has hired lawyers to take on auditing firm KPMG over its report on the so-called ‘rogue SARS unit’, which led to van Loggerenberg and others being forced out of the revenue service and to be hounded by the Hawks. Sources say the former exec has a heavyweights legal team behind him.
- Attorneys working on Public Protector Busisiwe Mkhwebane’s case against Absa over a R1.25 billion payment made during the apartheid era have withdrawn from the legal battle. Mkhwebane’s office confirmed their withdrawal, but said no reasons were given, and that the case will not be impacted.
- A new analysis of the costs involved with the Kusile power station claims that the total costs involved with the R80 billion project over its 50-year lifespan – including the impact on the environment – could amount to between R1.45 trillion and R3.3 trillion. Water costs are the highest item billed in the analysis.
- Cyril Ramaphosa’s bid for the presidency got a boost this weekend, after his supporters were elected to lead the ANC branches in the Eastern Cape. The elective conference in the province was beset with violence and intimidation, with reports saying that more than 10 members were injured as fights broke out between warring factions.
- Bonds led a recovery in South African markets on Friday, with the rand also edging firmer, helped by combination of the trade balance remaining in surplus and a pause in dollar’s recent rally. Stocks followed world markets higher. On Monday the rand was at R13.60 to the dollar, R18.17 to the pound and R16.00 to the euro.
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