For Creamer Media in Johannesburg, I’m Sane Dhlamini.
Making headlines: Five things to watch for in Ramaphosa's State of the Nation Address, Tito Mboweni is back at Goldman Sachs snd, Uganda says ICJ ruling awarding DR Congo reparations is unfair

Five things to watch for in Ramaphosa's State of the Nation Address

President Cyril Ramaphosa, who is up for re-election as head of the ruling African National Congress in December, delivers his annual state-of-the-nation address to lawmakers tonight.

The speech, which will take place in Cape Town’s city hall for the first time because part of the parliamentary complex was gutted by a fire last month, is scheduled to begin at 7pm.

He is expected to discuss, amongst other things, income grants. The government has been paying South Africans who have no other income R350 a month to help shield them from the economic devastation wrought by the coronavirus pandemic.

Ranaphosa will also look into pandemic responses, energy crisis where he may outline plans to accelerate and streamline the procurement of more electricity from independent producers and elaborate on the tortuous process of turning around embattled state power utility Eskom.

To ensure the fight against corruption the president is also expected to discuss findings and recommendations of the recently released state capture report.

Tito Mboweni is back at Goldman Sachs

Former finance minister Tito Mboweni has been appointed as a regional advisor for the US investment bank Goldman Sachs.

Mboweni will provide strategic advice to the firm on business development opportunities, with a particular focus on South Africa and sub-Saharan Africa.

This is Mboweni's second stint at Goldman Sachs.

He was appointed as an advisor of the company in 2010, shortly after he left his position as governor of the SA Reserve Bank in 2009.

Uganda says ICJ ruling awarding DR Congo reparations is unfair

Uganda said today an International Court of Justice ruling asking it to pay $325-million in reparations to the Democratic Republic of Congo for its role in conflicts in Congo's resource-rich Ituri province is "unfair and wrong".

The court said Uganda must pay the sum in five yearly instalments of $65-million, starting in September this year.

The total award was far below the more than $11-billion Congo had sought.

The court also dismissed several claims including broad compensation for macroeconomic damage.

Uganda's actions and alleged economic damage had not been demonstrated.

That’s a roundup of news making headlines today
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