Busisiwe Mkhwebane is embroiled in an urgent court battle seeking a gratuity payment following her removal from office as South Africa's Public Protector. This case is significant as it will set precedents regarding the financial entitlements of ousted public officials. Legal arguments focus on the Public Protector Act, with constitutional interpretations being crucial.
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The South African rand marginally weakened as anticipation builds for President Cyril Ramaphosa’s new cabinet announcement. The delay is due to ongoing negotiations. Andre Cilliers from TreasuryOne states that the firmer dollar and absence of news impact the rand. The focus is on global inflation data and US Federal Reserve rates. Various market indices show mixed performances.
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Cyril Ramaphosa has embarked on his second term as South Africa's president under unprecedented political conditions. For the first time in thirty years, the African National Congress (ANC) lost its majority, prompting the formation of a coalition government. This shift in power is seen as a new era for the country, with markets reacting positively and anticipation building about addressing past inequalities and fostering a stable political environment.
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Following South Africa's recent elections, the nation's economic challenges have become a critical issue. Dion George of the Democratic Alliance has warned of possible violence if the economy isn't revitalized. President Cyril Ramaphosa stresses addressing job creation, economic growth, and high living costs. Unemployment remains high, notably among youth, amid ongoing power cuts and infrastructure woes.
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Justice Yvonne Mokgoro, former Constitutional Court judge, will be honored with a special official funeral in Johannesburg. At the age of 73, Mokgoro's passing follows a life dedicated to justice and equality in South Africa. Ceremonial elements by the South African National Defence Force will commemorate her distinguished career.
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The Independent Electoral Commission (IEC) of South Africa has received a record of over 1 million special vote applications for the upcoming elections. These votes assist those with mobility impairments to vote from home or enable early voting for those unable to attend on election day.
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