Friday, August 28, 2009
From Creamer Media in Johannesburg, I'm Amy Witherden.
Making headlines:
South African Reserve Bank governor Tito Mboweni says that the common monetary area made up of South Africa, Namibia, Swaziland and Lesotho, where the rand is the main currency, could be a springboard for regional integration.
Delivering the CR Swart Memorial Lecture at the University of the Free State on Southern African economic integration, the governor said that while it was successful, there was, nevertheless, one major fault with the monetary area. The rand is used as a "legal tender" in this area, he said, but these countries do not participate in the formulation of its monetary policy.
Mboweni said that this is an "undemocratic process", and proposed the creation of a common Central Bank for the four countries, which could be used as a springboard for a Southern African Development Community Central Bank.

The Zimbabwean political leadership is ready to tackle political and social challenges head on, said President Jacob Zuma at a gala dinner in Harare, hosted by Zimbabwean President Robert Mugabe. Zuma spoke of positive developments in Zimbabwe, saying that it is encouraging to note the significant progress that has been made under the inclusive government. The most difficult path has already been travelled, said Zuma, referring to the common experience of Zimbabwe and South Africa in battling colonialism and apartheid respectively. The remaining issues facing Zimbabwe are not insurmountable, he said.

In a meeting yesterday between President Jacob Zuma and the leaders of opposition parties represented in the National Assembly, the role of senior government officials in suspect oil-for-food deals with Iraq was discussed.
Democratic Alliance Parliamentary leader Athol Trollip asked Zuma to reconstitute the Donen Commission, which previously found that Deputy President Kgalema Motlanthe - who was African National Congress secretary-general at the time - was privy to material information relating to money paid illicitly to the Iraqi regime. The commission also cast doubt on Tokyo Sexwale and Sandile Majali.
Trollip said that all three people implicated report directly to President Zuma, so he is responsible for holding them to account. Zuma said that he is waiting for legal advice from the Department of Justice before taking action.

Also making headlines:
The Department of Trade and Industry unveils details of its planned financial support for distressed firms.
Transport Minister Sbusiso Ndebele says that the launch of the bus rapid transit system will go ahead, and that there will be no taxi strike.
And, African National Congress secretary-general Gwede Mantashe says that President Jacob Zuma's administration has proved tougher on graft than former President Thabo Mbeki's government.
That's a roundup of news making headlines today.