October 10, 2018.
For Creamer Media in Johannesburg, I’m Halima Frost.
ACDP says Mboweni’s appointment will calm markets
Maimane wants Ramaphosa to testify before the State capture commission
And, Sacci says policy certainty is key to business confidence
The African Christian Democratic Party has said that the appointment of Tito Mboweni as South Africa's new finance minister will calm markets and provide confidence to foreign investors given his experience as a former cabinet minister and central bank governor.
President Cyril Ramaphosa on Tuesday appointed Mboweni to replace Nhlanhla Nene who resigned over his meetings with the controversial Gupta family at the centre of a probe into state graft.
The party said it had no doubt that the new minister would adhere to strict fiscal consolidation measures required to stabilise state finances and inspire investor confidence in the economy.
Democratic Alliance leader Mmusi Maimane has called on President Cyril Ramaphosa to present himself before the commission probing State capture.
Maimane said that recent developments in the Zondo Commission of Inquiry had shown that the capture of ANC and government and its entities extended beyond former president Jacob Zuma and the Gupta family.
Maimane said as deputy president of the ANC from 2012, and deputy president of South Africa from 2014, there was "no conceivable way" that Ramaphosa had no knowledge of the wholescale State capture.
Maimane said it was incumbent on the President to come clean and voluntarily request to appear before the Zondo Commission to fully account for his senior leadership tenure since 2012.
The South African Chamber of Commerce and Industry said on Wednesday that market and economic developments continue to have adverse effects on the activities of companies in South Africa, despite an uptick in a key business confidence index in September.
Sacci said policy certainty was necessary to improve sentiment, and that the initiatives of an economic stimulus package announced by President Cyril Ramaphosa should be outlined in more detail over the coming months.
Sacci said this month's medium term budget policy statement and an investment summit should provide direction and policy clarity and hopefully shift South Africa out of its current technical recession.
That’s a roundup of news making headlines today
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