Tuesday, May 4, 2010

From Creamer Media in Johannesburg, I'm Brad Dubbelman.

Making headlines:

African National Congress Youth League (ANCYL) leader Julius Malema faced a disciplinary hearing yesterday, the ANC said.
Malema has defied calls from South African President Jacob Zuma to cease making inflammatory comments and earned a rebuke last month from Zuma for supporting Zimbabwean President Robert Mugabe and his controversial land reform policies.
While the ANCYL has denied knowledge of any disciplinary action against Malema, who is accused of bringing the party into disrepute, ANC spokesperson Jackson Mthembu confirmed that the committee sat yesterday, but had not completed its work and will reconvene next week Tuesday.
Meanwhile, the ANCYL has expressed shock that Mthembu made a public statement about the hearing, after the ANC had said that Malema's disciplinary hearing was an internal party process and would remain under wraps.

Regional expansion, growth opportunities, risk and education are key issues that will be high on the agenda at the twentieth World Economic Forum on Africa, to be held in Dar es Salaam this week under the theme "rethinking Africa's growth strategy".
One thousand participants from 85 African countries, including South African President Jacob Zuma, are expected to attend. The meeting will provide leaders with a platform to discuss how they are facing up to the challenge and using the economic crisis as an opportunity to redesign a sustainable road map for Africa's future.
South Africa will highlight the importance of trade, industrialisation, agricultural development, infrastructure development and innovation as key drivers for sustained economic growth, as well as promote Africa's regional economic integration agenda.

Cabinet has approved a bill aimed at "protecting" the independence of the South African Reserve Bank (SARB) to prevent a fringe group of shareholders from influencing the bank's decision-making capabilities, Finance Minister Pravin Gordhan said yesterday.
It had come to the bank's attention, Gordhan explained, that a "fringe group" was attempting to improperly mobilise their shares, as well as share profits and assets, in an attempt to influence decisions. Cabinet considers this unacceptable and has agreed on urgent legislative steps to protect the Bank's independence.
Gordhan said that one of the objectives of the SARB Amendment Bill was to prevent abuse and the formation of voting blocks by the bank's "limited number" of shareholders. The amendments to the act seek to curb circumvention of the share limit by extending the restriction to associates and close relatives.

Also making headlines:

Malagasy President Andry Rajoelina hints at a politically "neutral" government after last-ditch power-sharing talks failed over the weekend.
The Democratic Republic of Congo looks to intensify military operations against rebel groups.
A report states that South Africa's looming water crisis may hinder development.
And, Zimbabwean journalists accuse the Zimbabwe Media Commission, which is meant to drive media reform, of delaying the registration of new newspapers.

That's a roundup of news making headlines today.