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Daily Podcast – November 22, 2018

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Daily Podcast – November 22, 2018

22nd November 2018

By: Sane Dhlamini
Creamer Media Researcher and Writer

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For Creamer Media in Johannesburg, I’m Sane Dhlamini.

Making headlines: Ramaphosa to announce Cabinet reshuffle, Gordhan’s daughter received no direct payments as non-executive director And, Central bank set to keep interest rates unchanged

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Ramaphosa to announce Cabinet reshuffle

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President Cyril Ramaphosa is expected to announce changes to the National Executive today at the Union Buildings, Pretoria, at 3pm.  

In a statement issued today the presidency said "these changes have been occasioned by the passing away in September 2018 of the Minister of Environmental Affairs, Ms Edna Molewa, and the more recent resignation of the Minister of Home Affairs, Mr Malusi Gigaba."

Earlier this year, Ramaphosa announced significant changes to his cabinet in February this year, after he took over the position of President from Jacob Zuma.

 

Gordhan’s daughter received no direct payments as non-executive director

Anusha Gordhan, the daughter of Public Enterprises Minister Pravin Gordhan, didn't get any payments from Investec as a non-executive director, the company said.

The statement followed claims by the Economic Freedom Fighters that Anusha benefited from "government tenders for consulting and advisory services".

Investec said Anusha was employed at its private equity business from 2007 until the business was incorporated into Investec Equity Partners (IEP) in January 2016. She was then an employee of IEP until she left in 2017.

 

Central bank set to keep interest rates unchanged

South Africa's central bank is likely to keep interest rates unchanged on Thursday as inflation remains contained within target while economic growth is worryingly anaemic.

The South African Reserve Bank's monetary policy committee is currently holding its last of six annual meetings to ponder interest rates and its chairman, Governor Lesetja Kganyago, is due to announce its decision at a news conference later on Thursday.

The central bank cut the benchmark repurchase rate at which it lends to commercial banks by 25 basis points at its second meeting of the year in March, but has kept it steady at 6.5 percent since.

In turn, commercial banks have kept the prime lending rate to consumers at 10 percent since a similar March reduction.

 

That’s a roundup of news making headlines today

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