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Daily Podcast – June 10, 2019

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Daily Podcast – June 10, 2019

10th June 2019

By: Sane Dhlamini
Creamer Media Researcher and Writer

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

Making headlines: Zandile Gumede placed on leave to protect integrity of ANC, Moody's says SA's shrinking economy credit negative for government and banks and, former ministers Jeff Radebe and Siyabonga Cwele resign as MPs

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Zandile Gumede placed on leave to protect integrity of ANC

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The decision by the ANC in KwaZulu-Natal that eThekwini Metro Mayor Zandile Gumede be placed on leave for 30 days was taken to maintain the integrity of the ruling party.

Gumede was asked to vacate office by the provincial executive, who also resolved to disband the regional executive committee and replace it with a task team.

She is out on R50 000 bail after being arrested for corruption relating to a R230-million waste removal tender.

 

Moody's says SA's shrinking economy credit negative for government and banks

Global ratings agency Moody's says the contraction of South Africa's GDP in the first quarter is credit negative for SA's government and the country's banks. 

Last week Stats SA announced the economy shrank by 3.2% in the first three months of the year, the biggest drop a decade. 

Moody's is the sole global rating agency to still assess South Africa's sovereign debt at investment grade.

 

Former ministers Jeff Radebe and Siyabonga Cwele resign as MPs

Former ministers Jeff Radebe and Siyabonga Cwele have resigned as MPs after failing to crack the nod in President Cyril Ramaphosa's new Cabinet.

Parliament spokesperson Moloto Mothapo confirmed on Monday that Radebe and Cwele had tendered their resignations.

The pair join a growing number of former ministers who have in recent weeks resigned as ordinary members of the National Assembly after being left out of Ramaphosa's recently announced Cabinet.

 

That’s a roundup of news making headlines today

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