5 important things happening in South Africa today

Here is what is happening in and affecting South Africa today:

  • The City of Johannesburg needed a new mayor, and the decisive moment came through on Wednesday.  Geoff Makhubo replaced Herman Mashaba through 137 votes.
  • The National Assembly has adopted rules which will allow it to start processes to remove the Public Protector and other heads of chapter nine institutions in South Africa.
  • Public Enterprises minister Pravin Gordhan says that coal providers need to come to the party to help save Eskom by bringing down the cost of coal to ‘reasonable’ levels.
  • Old Mutual and its ‘unwanted boss’ Peter Moyo are headed back to court, continuing the six month battle between the two parties that has wiped billions off the group’s market capitalisation.
  • South Africa’s rand fell sharply on Tuesday after third quarter economic growth showed a surprise contraction, underlying the weak state of the economy and growing risk of credit downgrades.

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Source: 
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