For Creamer Media in Johannesburg, I’m Thabi Madiba.

Making headlines: State capture inquiry gets underway; DA vows to challenge nationalisation of Reserve Bank; And, ANC and AgriSA to meet over expropriation and the economy

 

State capture inquiry gets underway

The judicial commission of inquiry into alleged capture of the South African State and its entities, referred to as ''State capture'', has begun today in Johannesburg.

At the centre of the hearings are members of the Gupta family, who have since left the country as allegations of corruption and stripping of State-owned enterprises of billions of rand through illegal contracts surfaced. The extent of the family's influence was detailed in leaked emails from Gupta computer servers, dubbed "GuptaLeaks".

Commission chairperson Deputy Chief Justice Raymond Zondo will open the proceedings today. The first week will see various witnesses appearing to State their case.

 

DA vows to challenge nationalisation of Reserve Bank

The Democratic Alliance has described attempts to nationalise the South African Reserve Bank as a "hostile takeover", saying it will oppose what it sees as a political maneuver to influence the mandate and operations of the central bank and the country's banking system as a whole.

Economic Freedom Fighters leader Julius Malema last week introduced a bill in Parliament to nationalise the central bank.

The South African Reserve Bank Amendment Bill would make the State the sole holder of the shares in the bank and "provide for the appointment of certain board directors by the (finance) minister".

DA member of the finance committee Gwen Ngwenya said this was an electoral gimmick with which the EFF hoped to dominate the ruling African National Congress' radical agenda, and position itself as the authentic party of the left, whether or not the Bill was passed.

 

And, ANC and AgriSA to meet over expropriation and the economy

The African National Congress and AgriSA, the country’s largest representative body of commercial farmers, will meet on Tuesday to discuss the heated issue of expropriation without compensation.

This follows months of uncertainty in the agricultural sector and the broader economy after the ANC’s initial decision to implement a policy of expropriation without compensation, and President Cyril Ramaphosa’s subsequent announcement that the ANC will recommend that the Constitution be changed.

The meeting was arranged after Deputy President David Mabuza reached out to AgriSA president Dan Kriek.

Mabuza will be joined by senior ANC officials, including ANC treasurer general Paul Mashatile. It is understood that senior ANC officials have been attempting to encourage dialogue with AgriSA, who represents roughly 29 000 farmers as well as a number of industry specific bodies in the agricultural sector.

 

That’s a roundup of news making headlines today

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