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

• President Cyril Ramaphosa has met with business leaders, including those from the country’s major banks, to discuss way to stimulate the South African economy.
• Eskom is close to selecting a new CEO, according to sources, with three people shortlisted to take over the top spot of the struggling state-owned power utility.
• After denying that his luxury SUV was bought with money from VBS Bank, EFF deputy Floyd Shivambu has now admitted that he did receive R680,000 from his brother to pay for the car. 
• The South African banking strike is still on the cards for the coming weeks, with unions promising to get the necessary approvals in place to take to the streets in protest of retrenchments in the banking sector.
• On Friday the rand was at R15.03 to the dollar, R18.54 to the pound and R16.42 to the euro.

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