tito mboweni mid-term budget speech

12 March 2007. South Africa. Johannesburg. The governer of the South African Reserve Bank, Tito Mboweni.

South African news today: Your headlines in five minutes for Wednesday 10 October

How will Tito Mboweni shape the discourse around the country’s sluggish financial performance at his mid-term budget statement address?

tito mboweni mid-term budget speech

12 March 2007. South Africa. Johannesburg. The governer of the South African Reserve Bank, Tito Mboweni.

This is the quick and easiest way to get that espresso shot of the top stories that are making headlines in South African news today. Tuesday ended off with Finance Minister, Nhlanhla Nene’s resignation being shadowed by the appointment of Tito Mboweni as his replacement.

On Wednesday, a lot more will be unpacked about what Mboweni’s big task is, coming into a situation that demands quick action to restore confidence in the rand, while former Minister of Public Enterprises, Barbara Hogan takes the hot seat at Zondo’s commission.

South African news today: Wednesday 10 October

Finance Minister Tito Mboweni faces a big task

President Cyril Ramaphosa faced his biggest test thus far as the leader of the state. Nene’s resignation was seen as the one thing that would ruin his credibility as the good guy. However, he brought the well-reputed Mboweni, former Reserve Bank governor, in as Nene’s replacement.

Read – Tito Mboweni: five things to know about South Africa’s new Finance Minister

This, of course, was appreciated by the markets. The noise has settled and the confetti has been swept away. Mboweni faces a big challenge. He is set to deliver the medium-term budget statement on Wednesday, 24 October.

His address will be key in assessing how foreign investors and credit rate agencies see South Africa’s fiscal health.

Ramaphosa makes unprecedented move to find Shaun Abrahams’ replacement

The National Prosecuting Authority’s (NPA) head is often appointed by the head of state. However, President Ramaphosa wants to share the authority and involve an independent, external panel in selecting a new NPA head.

Read – Ramaphosa dodges questions on Nene, says he is “hard of hearing”

The president is working against time — about a month — to come forth with a suitable replacement for Abrahams. Prosecutors have complained about the weakness of the NPA now that it functions without proper leadership.

Khusela Diko, the spokesperson of the Presidency, revealed that the panel would include Jeff Radebe, who is the Minister in the Presidency, representatives from the General Council of the Bar, Law Society, Black Lawyers’ Association, Advocated for Transformation, the Human Rights Commission and the office of the Auditor-General.

Ex-Public Enterprises minister Barbara Hogan takes the hot seat at Zondo’s commission

Deputy Chief Justice, Raymond Zondo’s commission of inquiry into state capture resumes on Wednesday and former Minister of Public Enterprises, Barbara Hogan takes the hot seat in what should be a day of revelations.

According to Vytjie Mentor, a former ANC MP, the Guptas and former president Jacob Zuma had offered her Hogan’s job if she agreed to cut off the South African Airways’ (SAA) flight route to Mumbai, India.

Read – State capture inquiry: Pravin Gordhan has a lot to get off his chest

There is a lot more that Hogan will unpack in this regard. Why would her position allow the Guptas to allegedly put it up for sale to any corrupt buyer? Hogan will surely have a lot to reveal.

SASSA nationwide strike kicks off on Wednesday

Right after service providers were changed by the South African Social Security Agency (SASSA) all seemed to be heading in the right direction. This surely was not the case since SASSA employees have cried foul about the agency’s working conditions.

The National Health and Allied Workers’ Union (NEHAWU) revealed that its SASSA employees would be embarking on a nationwide strike this week.

Read – Sassa employees set to strike this week “on behalf of all beneficiaries”

In a statement, Zola Saphetha, NEHAWU’s secretary-general, stated that

“The strike comes as a result of the refusal by the SASSA management to resolve the challenges brought about by the migration of the social grant payment system from Cash Paymaster Services (CPS) to the South African Post Office (SAPO),

“These challenges include the introduction of biometric enrolment of beneficiaries and staff, grant business process and socpen (social pension) fraud.”

Authorities have been alerted of the impending strike and those who use the SASSA service will be affected as of today.

Malusi Gigaba looks ahead to state capture inquiry after dodging questions at Parliament’s Home Affairs committee

Those who know Malusi Gigaba well did not expect him to come forth and repent from all of his sins the way Nene did.

The Minister of Home Affairs addressed Parliament’s Home Affairs committee on Tuesday evening and vehemently denied any wrongdoing regarding the early naturalisation of the Gupta family.

He tried to adopt the persona of a neutralist, and spoke of his relationship with the Guptas as a key part of — in his own words — ‘social cohesion’.

However, he is also due in Zondo’s commission after Minister of Public Enterprise, Pravin Gordhan, has his turn on Friday. Things will most definitely not be as straight forward for Gigaba this time.