{"id":273837,"date":"2018-09-27T08:09:54","date_gmt":"2018-09-27T06:09:54","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=273837"},"modified":"2018-09-27T08:09:54","modified_gmt":"2018-09-27T06:09:54","slug":"5-important-things-happening-in-south-africa-today-397","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/273837\/5-important-things-happening-in-south-africa-today-397\/","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:\/\/ewn.co.za\/2018\/09\/27\/moody-s-very-small-s-africa-stimulus-to-have-little-impact\">Ratings agency Moody&#8217;s has joined Fitch in assessing South Africa&#8217;s proposed stimulus plan, saying that it is very small, and will have little impact.<\/a><\/strong> The stimulus is only 1% of GDP, so it won&#8217;t be enough to significantly change anything, it said. The group also expects tax revenue to fall short of expectations. [EWN]<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/af.reuters.com\/article\/southAfricaNews\/idAFL2N1WD045\">Half of president Cyril Ramaphosa&#8217;s R50 billion stimulus plan will be funded be adjusting current budgets,<\/a><\/strong> according to finance minister Nhlanhla Nene. Under-performing government programmes will be on the chopping block. The other half will come from development financing institutions. [Reuters]<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/www.iol.co.za\/business-report\/companies\/heat-is-on-as-steinhoff-faces-legal-action-in-the-netherlands-17239424\">Steinhoff investors in the Netherlands have been given the go-ahead to take legal action against the South African multinational,<\/a><\/strong> as a result of losses incurred do to accounting fraud. The move adds to mounting legal cases faced by Steinhoff, who is facing similar action in Germany. [IOL]<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/www.timeslive.co.za\/politics\/2018-09-27-anc-website-shut-down-provider-claims-party-owes-r325m\/\">A service provider claims that the ANC owes it over R32 million for web hosting services, and is mulling legal action<\/a><\/strong> after pulling the party&#8217;s website offline. However, the ANC insists that its site is simply down for maintenance. [Times Live]<\/li>\n<\/ul>\n<ul>\n<li>South Africa\u2019s rand powered to its firmest since late August on Wednesday as risk assets rallied despite expectations the Federal Reserve would raise interest rates and draw a line under a decade of accommodative monetary policy. <strong><a href=\"https:\/\/www.xe.com\/currencyconverter\/convert\/?Amount=1&amp;From=USD&amp;To=ZAR\">On Thursday the rand was at R14.21 to the dollar, R18.66 to the pound and R16.62 to the euro<\/a><\/strong>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Ratings firms think Ramaphosa&#8217;s stimulus will accomplish very little; the finance department explains where the money for the stimulus will come from; Steinhoff faces legal action in the Netherlands due to its accounting fraud; and the ANC&#8217;s website has been taken down, with a service provider claiming it is owed R32 million.<\/p>\n","protected":false},"author":10,"featured_media":260439,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,11121],"tags":[26],"class_list":["post-273837","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\/273837","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=273837"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/273837\/revisions"}],"predecessor-version":[{"id":273849,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/273837\/revisions\/273849"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/260439"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=273837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=273837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=273837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}