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Daily Podcast – April 11, 2024


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Daily Podcast – April 11, 2024

11th April 2024

By: Thabi Shomolekae
Creamer Media Senior Writer


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For Creamer Media in Johannesburg, I’m Thabi Shomolekae.

Making headlines: ANC’s Nkosindiphile Xhakaza is new Ekurhuleni mayor; FW De Klerk Foundation wants Ramaphosa to send Expropriation Bill back for reconsideration; And, South Africa’s looming political shakeup has investors on edge



ANC’s Nkosindiphile Xhakaza is new Ekurhuleni mayor


Nkosindiphile Xhakaza has been elected, unopposed, Ekurhuleni mayor, after an almost two-week absence of leadership, following the removal of Sivuyile Ngodwana.

Ngodwana was removed from office on March 28, following a motion of no confidence, brought by ActionSA.

Xhakaza, the African National Congress’s candidate, is a former MMC for finance and economic development.



FW De Klerk Foundation wants Ramaphosa to send Expropriation Bill back for reconsideration

The FW de Klerk Foundation has urged President Cyril Ramaphosa to exercise the powers the Constitution has given him to send the Expropriation Bill back to Parliament for reconsideration, to avoid “plunging into the abyss of economic and constitutional uncertainty”.

Last month the Bill was passed and send to Ramaphosa to sign into law.

Foundation legal officer Ismail Joosub explained that the absence of clear definitions in the Expropriation Bill was alarming, saying this ambiguity created by the Bill was fertile ground for “abuse”, despite assurances that it would be used judiciously.

He noted that the Bill granted sweeping powers to the State to expropriate property without compensation, without adequate checks and balances, which he said paved the way for “abuse and exploitation”, also undermining property rights and eroding trust in the rule of law.

The Foundation’s Constitutional Programmes manager, Daniela Ellerbeck, explained that the definitions of ‘public interest’ and ‘public purpose’ were very wide and did not require that the property be expropriated to meet a public need as required by international covenants that South Africa is signatory to.



And, South Africa’s looming political shakeup has investors on edge

South Africa is heading into unchartered political terrain and investors are growing increasingly anxious.

The rand slumped 0.9% against the dollar yesterday immediately after an opinion poll by the Social Research Foundation showed support for the ruling African National Congress falling to just 37% before next month’s election, down from 57.5% five years ago.

Six out of seven other surveys conducted since last year also show the party losing the parliamentary majority it’s held since apartheid ended three decades ago, albeit by a smaller margin.

Failing to get at least 50% may force the ANC into a coalition to govern. The question is whether that would be with smaller parties who’d keep the ANC — with whom investors are already familiar — fully in charge.

If the ANC’s loss of support is severe, it might choose to ally with the leftist Economic Freedom Fighters, or a new party led by former President Jacob Zuma. It could also go in the other direction and form a government with the main opposition Democratic Alliance, which says it’s pro-business.



That’s a roundup of news making headlines today

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