{"id":228319,"date":"2018-02-28T07:53:22","date_gmt":"2018-02-28T05:53:22","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=228319"},"modified":"2018-02-28T07:53:22","modified_gmt":"2018-02-28T05:53:22","slug":"5-important-things-happening-in-south-africa-today-253","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/government\/228319\/5-important-things-happening-in-south-africa-today-253\/","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.businesslive.co.za\/bd\/national\/2018-02-27-parliament-adopts-effs-land-claims-motion-but-anc-seeks-amendments\/\">Markets reacted negatively to news that the ANC and the EFF would\u00a0join forces to support land expropriation without compensation in South Africa.<\/a><\/strong> The motion was tabled for debate in parliament on Tuesday, and passed with a majority vote. The matter will now be moved to the constitutional review committee, which will recommend if the relevant clauses should be changed.<\/li>\n<\/ul>\n<ul>\n<li>The return of Pravin Gordhan and Nhlanhla Nene to cabinet in vital positions has been lauded and welcomed, <strong><a href=\"https:\/\/www.iol.co.za\/news\/politics\/return-of-nene-gordhan-will-boost-investor-confidence-analysts-13518301\">with many analysts saying the return of the anti-corruption lawmakers will accelerate business and investor confidence in the country.<\/a><\/strong> However, their return is not a panacea for SA&#8217;s struggling economy, and a long road lies ahead.<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/af.reuters.com\/article\/africaTech\/idAFL8N1QH81N\">The Independent Regulatory Board for Auditors (IRBA) has referred a former KPMG employee to a disciplinary hearing<\/a><\/strong> following investigations into their association with Gupta-linked companies, and the work done for them. The former employee could face sanctions ranging from a light caution or reprimand to being struck from the register of auditors.<\/li>\n<\/ul>\n<ul>\n<li>The DA and EFF alliances in major metros are under threat, after the DA failed to back the EFF&#8217;s motion for land expropriation without compensation in parliament. <strong><a href=\"http:\/\/ewn.co.za\/2018\/02\/28\/eff-warns-da-over-failure-to-back-land-motion\">Party leader Julius Malema said that the EFF would table a motion of no confidence vote against Nelson Mandela Bay mayor Athol Trollip as a &#8216;warning shot&#8217; to the DA.<\/a><\/strong><\/li>\n<\/ul>\n<ul>\n<li>South Africa\u2019s rand weakened more than one percent on Tuesday as investors took profit from a recent rally that sent the currency to new three-year highs overnight when new President Cyril Ramaphosa changed the finance minister in a cabinet reshuffle. <strong><a href=\"http:\/\/www.xe.com\/currencyconverter\/convert\/?Amount=1&amp;From=USD&amp;To=ZAR\">On Wednesday the rand was at R11.73 to the dollar, R16.30 to the pound and R14.34 to the euro.<\/a><\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Markets are not happy about parliament adopting the controversial policy of land expropriation without compensation; Gordhan and Nene&#8217;s return is a boon for investor and business confidence in SA; a former KPMG employee will face disciplinary action for their role in the Gupta saga; and the EFF-DA alliance could be on the rocks.<\/p>\n","protected":false},"author":10,"featured_media":160327,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,23],"tags":[],"class_list":["post-228319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-government"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/228319","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=228319"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/228319\/revisions"}],"predecessor-version":[{"id":228329,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/228319\/revisions\/228329"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/160327"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=228319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=228319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=228319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}