South Africa: Today’s latest news and headlines, Thursday 27 February

Stay informed and up to date with all the latest news in South Africa by reviewing major headlines on Thursday 27 February.

While South Africans continue to digest the financial information delivered during Wednesday’s Budget Speech, economic analysts weigh in on Tito Mboweni’s plans to grow the economy. Meanwhile, Eskom ramps up security at its Gauteng headquarters in preparation for protest action spearheaded by the Economic Freedom Fighters (EFF). In sports news, the Proteas lick their wounds after being soundly defeated by Australia in the T20 series.

Today’s latest news in South Africa, Thursday 27 February

Tito Mboweni’s 2020 Budget Speech: The good, the bad and the ugly

Staring down the gauntlet of seemingly insurmountable financial odds at a time when South Africa’s socioeconomic prospects seem dire, Finance Minister Tito Mboweni delivered what most analysts have deemed an “average” Budget Speech on Wednesday.

Addressing the National Assembly, Mboweni, with his trusty Aloe ferox plant in tow, revealed government’s plans to maximise growth in the face of “junk status”. Following in President Cyril Ramaphosa’s SONA footsteps, the finance minister focused on youth empowerment through job creation and preparation for the Fourth Industrial Revolution (4IR).

Unfortunately, news of exorbitant bailouts for flailing state-owned enterprises, namely Eskom and South African Airways (SAA), to the tune of R60 billion, overshadowed other positive aspects of the 2020 Budget Speech. Government’s commitment to ploughing public funds into state-owned enterprises which have already held the nation to ransom, was met with disdain by the public and opposition parties alike.

On the plus side, Mboweni announced that an additional R2.4 billion would be funnelled into corruption-fighting units. The National Prosecuting Authority (NPA), Special Investigating Unit (SIU) and the Hawks are all due to benefit from the funding. Mboweni said these funds would enable the appointment of about 800 investigators and 277 prosecutors.

Eskom headquarters brace for EFF impact

Staff at Eskom’s headquarters, located at Megawatt Park north of Johannesburg, are preparing to face large-scale protest action led by the EFF on Friday. The Red Berets, led by Julius Malema, are expected to descend on the utility’s offices in a show of opposition to load shedding and the supposed “privatisation” of Eskom.

Eskom, which has experienced dire operational failures over the last four months, has not yet officially released a statement concerning the EFF’s planned march, but sources say that security at Megawatt Park is being beefed up.

The EFF will be joined by the African Transformation Movement (ATM) which has condemned government’s endorsement of Independent Power Producers (IPP).

South Africa set for more Special Economic Zones

The Department of Trade and Industry (dti) is planning to take up equity in the country’s Special Economic Zones (SEZs), says Trade and Industry Deputy Minister Fikile Majola.

Speaking at the start of a two-day national Special Economic Zones strategy and policy dialogue in Port Elizabeth, Majola said the dti would no longer just be a regulator and adjudicator of the applications for SEZ licences, but an active participant.

The department will be involved in the planning, development and management of the zones, especially new ones and struggling zones.

“In addition, the dti will also take up equity or ownership in the SEZs in order to provide full support for implementation. This model is already being tested in Gauteng through the implementation of the proposed Tshwane Automotive SEZ. The proposed SEZ will be owned by the dti (33.3%), Gauteng [Provincial Government] (33.4%) and the [City of] Tshwane (33.3%),” he said.

SEZs are geographically designated areas of a country that are set aside for specifically targeted economic activities. (Source: SAnews)

Ramaphosa apologises to slain 8-year-old Tazne van Wyk’s family

President Cyril Ramaphosa apologised during a visit to the home of the family of eight-year-old Tazne van Wyk, who was abducted and brutally murdered, allegedly by a man who was on parole.

Ramaphosa apologised on behalf of government, saying that the parole system has failed the people and that a mistake was made.

“I stand here to say that we are sorry as the government, that a person who was never supposed to be released on parole, was released,” Ramaphosa told the crowd that gathered outside the house.

“We are sorry about this. This will never take away the pain that you are feeling, because the problem of gender-based violence was also perpetrated against women and children.”

The president also said the government would give its support where it was needed to the family. (Source: ANA)

Super Rugby: Nyakane to skipper bulls against Jaguares

Springbok prop Trevor Nyakane has been entrusted with the captaincy as the Bulls aim to break their early-season Super Rugby losing streak against the Jaguares in Pretoria on Saturday.

Nyakane takes over as skipper from the injured Burger Odendaal and will lead a team showing six changes from last weekend’s last-minute defeat to the Blues. Kick-off at Loftus Versfeld is at 17:15pm.

With Odendaal out, Bulls coach Pote Human has opted to move Johnny Kotze to inside centre, with Tongan international Nafi Tuitavake set to make his debut for the Pretorians at outside centre. (Source: ANA)

Latest weather forecast, Thursday 27 February

Take a look at weather forecasts for all nine provinces here.

Live traffic updates for Cape Town, Johannesburg and Durban

Stay one step ahead of the traffic by viewing our live traffic updates here.

Horoscope today

Free daily horoscope, celeb gossip and lucky numbers for Thursday 27 February.