{"id":183635,"date":"2017-07-05T06:55:41","date_gmt":"2017-07-05T04:55:41","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=183635"},"modified":"2017-07-05T06:55:41","modified_gmt":"2017-07-05T04:55:41","slug":"5-important-things-happening-in-south-africa-today-94","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/183635\/5-important-things-happening-in-south-africa-today-94\/","title":{"rendered":"5 important things happening in South Africa today"},"content":{"rendered":"<p>Here&#8217;s what is happening in and affecting South Africa today:<\/p>\n<ul>\n<li><strong><a href=\"https:\/\/www.timeslive.co.za\/politics\/2017-07-05-white-not-right-anc-to-call-it-just-monopoly-capital-from-now-on\/\">President Jacob Zuma&#8217;s supporters were dealt a big blow at the ANC&#8217;s policy conference, as 9 out of 11 commissions have rejected that the term &#8220;white monopoly capital&#8221; be officially adopted as part of ANC policy<\/a><\/strong>. Instead, the party prefers simply &#8220;monopoly capital&#8221;, as it focuses on the real issue of capitalist domination, while acknowledging that South Africa&#8217;s economic power is still skewed toward the white population.<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/mg.co.za\/article\/2017-07-04-zwane-anc-delegates-displeased-with-mining-charters-black-ownership-targets\">Mining minister Mosebenzi Zwane says that ANC delegates want the controversial mining charter to force mining companies to be 50% black owned, instead of the 30% announced, but are happy that the country is heading there. <\/a><\/strong>However, some within in the party have also warned that the mining charter in its current form may also lead to job losses in the industry. Zwane says this is government policy, and big businesses will have to deal with it.<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/www.businesslive.co.za\/bd\/national\/2017-07-04-anc-gives-government-six-months-to-establish-state-bank\/\">The ANC has given government 6 months to get a state bank up and running, where a development agenda must be the priority. <\/a><\/strong>The Post Bank licencing issue has progressed, but is now in the hands of the Reserve Bank. Post and telecoms minister Siyabonga Cwele said that the SARB must be given its chance to process the application, and expressed confidence that the state bank will be up and running soon.<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/www.timeslive.co.za\/sunday-times\/business\/2017-07-05-outa-forcing-eskom-to-spill-the-beans\/\">Civil action group, Outa has won an appeal in an Eskom case surrounding its application for electricity tariff hikes, which will result in some documents the power utility wanted to keep secret, being released for public scrutiny.\u00a0<\/a><\/strong>Eskom applied to Nersa in February for permission to keep certain statistics secret, which will be used in its application for a 19.9% tariff increase for next year. Outa says Eskom is trying to hide its Gupta links.<\/li>\n<\/ul>\n<ul>\n<li>South Africa&#8217;s rand firmed slightly on Tuesday as the July 4 holiday in the United States restricted market activity, while stocks weakened as investors took profits in bourse heavyweight Naspers. <strong><a href=\"http:\/\/www.xe.com\/currencyconverter\/convert\/?Amount=1&amp;From=USD&amp;To=ZAR\">On Wednesday, the rand was trading at R13.18 to the dollar, R17.03 to the pound and R14.96 to the euro.<\/a><\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Team Zuma&#8217;s bid to root &#8220;white monopoly capital&#8221; as ANC policy has failed; mining minister Zwane says ANC delegates want the mining charter to force 50% black ownership; government has 6 months to get its state bank up and running; and Outa is forcing Eskom to make its &#8216;secret&#8217; bid for 19.9% price hikes public.<\/p>\n","protected":false},"author":10,"featured_media":106749,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,11121],"tags":[26],"class_list":["post-183635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-finance","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/183635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=183635"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/183635\/revisions"}],"predecessor-version":[{"id":183637,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/183635\/revisions\/183637"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/106749"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=183635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=183635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=183635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}