South African news today

SOUTH AFRICA – August 2008: Markus Jooste, CEO of Steinhoff. (Photo by Gallo Images / Financial Mail / Jeremy Glyn)

South African news today: Your headlines in five minutes, 5 September 2018

Steinhoff’s secrets will be revealed in Parly, and Malusi Gigaba is in a spot of bother. All this and more in your South African news today wrap.

South African news today

SOUTH AFRICA – August 2008: Markus Jooste, CEO of Steinhoff. (Photo by Gallo Images / Financial Mail / Jeremy Glyn)

Need a quick round-up of the South African news today? We’ve got you. Here’s what is in store for Wednesday 5 September, as well as some quick updates on the weather, your star signs and Tuesday’s Powerball results.

South African news today, Wednesday 5 September:

Markus Jooste’s day in Parliament

This has been on our minds all week, but today is the day. Markus Jooste is set to lift the lid on what those accounting irregularities that wiped upwards of R190 billion off Steinhoff’s market value were. His appearance in Parliament will break a nine-month period of silence. [Read more: City Press]

State capture inquiry latest

There may be a brief adjournment, but the fallout from this week’s Phumla Williams testimony is nuclear. Former Communications Minister Faith Muthambi reacted fiercely to being branded “a thief and a bully” by releasing a statement that described Williams as a “shameful manipulator”. You can read it here.

Now, there’s talk that the Guptas could even testify in the investigation. But they won’t return to South Africa. They would only talk via video link. Well, that’s what they say anyway. Let’s hope their bluff does get called. [Read more: Daily Maverick]

More from recession

Expect to see plenty more reaction to Tuesday’s shock recession news. After the first two quarters of 2018 both saw the economy contract, the dreaded r-word has been bestowed upon our economy. However, it’s not all doom and gloom. The next quarter should be a little more positive.

Rand to Dollar value for Wednesday 5 September

After a sharp 2% drop against the American currency yesterday, our currency was put on the ropes – a recurring theme for the last few months.  At the start of business on Wednesday, the rand was trading at $15.31 – a ten-year high for the exchange rate.

Gigaba to face questions over Gupta naturalisation

Remember that whole debacle about whether the Guptas were actually South African citizens or not? Malusi Gigaba looks like he’s going to have to answer for that cock-up in Parliament at some point next week. Yay for accountability!

Eskom inquiry fires up again

The snowball that started the avalanche of state capture revelations returns to Parliament, where the results of the Eskom inquiry will be deliberated. We can confirm there is plenty of tea still left to be spilt.

Cape Town child abductions

Local Education MEC Debbie Schafer, Provincial Community Safety officials and police are set to meet to discuss a rise in child abductions within the Mother City this week. An eight-year-old was snatched from Goodwood over the weekend, shortly after a Grade 9 pupil was sexually assaulted on her way to school.

The best of Tuesday

AfriForum – who previously claimed to know which land the ANC wants to expropriate – are now saying the government are using land reform to pay off their debt to China. It’s a fascinating read, and you can catch up with it here.

Powerball draw for Tuesday 4 September

Did your winning numbers come in? Here are the results from last night’s draw:

Powerball: 3, 13, 24, 25, 41             Powerball: 8

Powerball Plus: 6, 22, 23, 44, 48     Powerball: 11

SA Weather for Wednesday 5 September

Find out what Wednesday has in store for you right here.

Horoscope for Wednesday

Here’s what to look out for today.