South Africa Roundup: Rand stability, Taxi turmoil, NPA struggles, Zuma’s rebellion

South African rand muted as traders eye possible ‘grey list’ exit

The South African rand held steady this week as traders watched for developments regarding the country’s potential removal from the Financial Action Task Force (FATF) “grey list.” South Africa was placed on the list in 2023 due to shortcomings in its anti-money laundering and counter-terror financing systems. The nation has since made notable progress in strengthening compliance measures. Analysts suggest that an official exit from the grey list could boost investor confidence and strengthen the rand in the medium to long term. The FATF’s upcoming review will determine whether South Africa’s reforms meet international standards, a decision that could mark a turning point for the country’s financial credibility.

‘More guns than flowers’ – Bheki Cele paints grim picture of taxi industry

Former Police Minister Bheki Cele’s testimony before Parliament drew attention to the violent undercurrents within South Africa’s taxi industry. Cele described the sector as one plagued by corruption, intimidation, and political interference. His statements painted a picture of an industry where criminality often eclipses legitimate business operations. He also distanced himself from several controversial figures linked to ongoing investigations and called for urgent institutional reforms to restore accountability within law enforcement. Cele’s comments reignited public debate over the long-standing tension between taxi associations and government authorities, particularly regarding regulation and enforcement.

Mission impossible? Inside SA’s most challenging job

Shamila Batohi’s leadership of South Africa’s National Prosecuting Authority (NPA) continues to face intense scrutiny. As head of the NPA, Batohi has had to navigate political pressure, leadership instability, and an overburdened justice system. Analysts note that the institution’s problems go far beyond individual leadership, pointing to systemic weaknesses such as chronic underfunding, political interference, and outdated structures. Despite public frustration over the lack of high-profile convictions, Batohi remains committed to rebuilding the NPA’s credibility. Experts warn that without structural reforms, her mission to restore public trust in South Africa’s justice system may remain an uphill battle.

Zuma slams GNU as ‘illegitimate’ and criticises it as a fragile, elitist pact

Former President Jacob Zuma intensified political tensions by denouncing South Africa’s Government of National Unity (GNU), calling it an “illegitimate arrangement” designed to protect elites rather than serve the people. Zuma, who now leads the MK Party, accused the GNU of perpetuating corruption and neglecting accountability. He pledged that his party would demand transparency and push for investigations into officials accused of misconduct. Political analysts interpret Zuma’s remarks as part of a broader strategy to position the MK Party as a populist alternative to the ruling coalition. The statement underscores growing divisions within South Africa’s political landscape as the GNU struggles to maintain unity amid competing interestsNews Briefs 24.10.