{"id":204208,"date":"2017-10-11T07:45:30","date_gmt":"2017-10-11T05:45:30","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=204208"},"modified":"2017-10-11T07:45:30","modified_gmt":"2017-10-11T05:45:30","slug":"5-important-things-happening-in-south-africa-today-161","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/government\/204208\/5-important-things-happening-in-south-africa-today-161\/","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>The Reserve Bank says that <strong><a href=\"http:\/\/af.reuters.com\/article\/commoditiesNews\/idAFJ8N1M300W\">KPMG&#8217;s problems will not disturb or pose a risk to the financial stability<\/a><\/strong> of South Africa&#8217;s banking sector &#8211; however, <strong><a href=\"http:\/\/af.reuters.com\/article\/commoditiesNews\/idAFJ8N1M300V\">there is a significant risk of further downgrades to the South African economy which definitely will<\/a><\/strong>. Ratings agencies will review SA&#8217;s ratings in November.<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/www.dailymaverick.co.za\/article\/2017-10-11-scorpio-amabhungane-the-mckinsey-dossier-part-4-bending-over-backwards-for-trillian\/#.Wd2rHHcjFTY\">A fresh investigation into the relationship between Eskom and Trillian has revealed exactly how the latter company was snuck-in through the back door of Eskom&#8217;s payments system<\/a><\/strong>, and given preferential treatment by the now-suspended CFO, Anoj Singh and his subordinates. Trillian was paid hundreds of millions of rands for contracts where little to no work was done.<\/li>\n<\/ul>\n<ul>\n<li>As the ANC&#8217;s leadership battle gets off the ground, deputy president Cyril Ramaphosa has again received backing from big names in the party &#8211; specifically, secretary general, Gwede Mantashe, who believes <strong><a href=\"https:\/\/www.enca.com\/south-africa\/mantashe-adamant-in-ramaphosa-support\">the deputy president should succeed the president<\/a><\/strong>, and former finance minister, <strong><a href=\"https:\/\/www.moneyweb.co.za\/news\/economy\/ramaphosa-can-turn-the-sa-ship-around-gordhan\/\">Pravin Gordhan, who said Ramaphosa has the capacity to turn things around for South Africa<\/a><\/strong>.<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/mg.co.za\/article\/2017-10-10-anc-mps-vote-against-ad-hoc-committee-proposal-for-mkhwebane-review\">South African MPs voted to have an ad hoc committee set up to assess Public Protector Busisiwe Mkhwebane&#8217;s fitness to hold office, however, the ANC used its majority to shoot it down<\/a><\/strong>. Mkhwebane has faced criticism for her handling of the Absa\/Bankorp issue, where she tried to change the mandate of the Reserve Bank in the Constitution.<\/li>\n<\/ul>\n<ul>\n<li>South Africa\u2019s rand staged a late-session rally on Tuesday away from 6-month lows as investors took profits on the dollar\u2019s recent rally and positioned for a run lower by the rand, while bonds were firmer and stocks traded sideways.<strong><a href=\"http:\/\/www.xe.com\/currencyconverter\/convert\/?Amount=1&amp;From=USD&amp;To=ZAR\"> On Wednesday the rand was trading at R13.67 to the dollar, R18.03 to the pound and R16.15 to the euro.<\/a><\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Reserve Bank says KPMG&#8217;s issues aren&#8217;t a risk to the SA banking sector &#8211; but further downgrades are; Scorpio and amaBhungane delve into how Trillian scored millions from Eskom; and Mantashe and Gordhan get vocal in their support for Ramaphosa as ANC president.<\/p>\n","protected":false},"author":10,"featured_media":75316,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121,23],"tags":[],"class_list":["post-204208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-government"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/204208","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=204208"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/204208\/revisions"}],"predecessor-version":[{"id":204214,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/204208\/revisions\/204214"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/75316"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=204208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=204208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=204208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}