Monday, 18 June, 2018

South Africa's rand slips as investors book profits

South Africa's rand slips as investors book profits Zuma, Kenyatta to hold talks in Durban
Kenny Thornton | 12 January, 2018, 21:15

South Africa's military veterans have urged the new African National Congress leadership to deal withformer ANC leader Jacob Zuma's future as the leader of the country as soon as possible.In doing so‚ there should be "no place for vendettas and vindictiveness", uMkhonto weSizwe Military Veterans' Association (MKMVA) president Kebby Maphatsoe said on Monday.

President Jacob Zuma's statement, issued on the eve of a high-level ruling party meeting where his fate is a certain topic of discussion, said any further delay will make the public doubt the government's resolve to fight graft.

The ANC's National Executive Committee didn't discuss the option of forcing Zuma from office at a meeting Wednesday in the southern city of East London, according to three members of the panel who spoke on condition of anonymity. "His hand has been forced", said Mmusi Maimane, leader of the main opposition Democratic Alliance. Deputy chief justice Raymond Zondo, selected by the chief justice will head the commission, Zuma said in the statement.

South Africa is not a parliamentary democracy, but a constitutional democracy.

There has been much speculation that the party might try to force Mr Zuma out as president, now that he is no longer leader of the party.

Gal Gadot Has Been Named As The New Face Of Revlon
The campaign is set to focus on celebrating diverse beauty and empowering women to live life more boldly. That's something I really like. "I must confess that when I was a young girl I never did that".

In 2016 a damning report questioned Zuma's dealings with the Guptas, a wealthy family of Indian origin, who allegedly were granted influence over his cabinet appointments.

The ANC's top decision makers also meet this week, and Zuma's recall is expected to be on the agenda.

"The Zuma trigger today gives a glimpse of how the rand will react if Zuma does step down early, although this possibility is increasingly being priced in", said Christopher Shiells, a senior emerging market analyst at Informa Global Markets.

The ANC's former head of intelligence, Zuma, 75, took office in May 2009 just weeks after prosecutors dropped graft charges against him.

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