Nothing’s easy in South Africa. Certainly not the process to appoint South Africa’s head of the Constitutional Court, the highest court in the country. After all, the Constitutional Court has the final word on the development of our law, and on the constitutionality of legislation and other government action. Choosing and being the Chief Justice is therefore extremely important. The disruption by the EFF’s Adv Dali Mpofu and Julius Malema were therefore not surprising. But punching below the belt…
Unpacking why they and advocate Griffiths Madonsela may have opposed the candidatures of Judges Dunstan Mlambo and Raymond Zondo so vehemently, the Daily Maverick’s Stephen Grootes examine the roots of this opposition and the importance of protecting our criminal justice system. “What is it that Malema and Mpofu fear? There can be no doubt that much time and effort was put into weakening Mlambo, so it must matter,” writes Grootes.
The JSC’s first choice, Supreme Court of Appeal Judge President Mandisa Maya, is certainly not a weak candidate. In fact, she’s fit and proper to be chief justice. And since all the Chief Justices in South Africa’s history, both before and after apartheid, have been men, surely the time is ripe for a capable, strong woman to take the reins at the highest judicial office?
President Cyril Ramaphosa will have the final say once he receives the formal report from the Judicial Service Commission. Even this may prove to be no easy task as the “tainted” and “irrational” interview process may be challenged in court. With state capture laid bare and our fight to rid government structures of corruption, we can only trust that the President will take note of what happened at the interview process and make the right choice to safeguard our judiciary!
In the markets, the rand’s momentum after Friday’s non-farm payroll number seems to have stalled a little, with the unit retreating to the mid-R15.40s after threatening to break R15.50, comments TreasuryONE. “Over the weekend, the Chinese Central Bank set a weaker than expected Yuan fixing, which could have the potential for other EMs to trade slightly softer. The overriding theme for the rand is of a currency trading in a range of R15.10-R15.60, and with little in the way of momentum, it looks like it will be difficult for the Rand to break out of this range,” writes the forex trading house in a noite to clients.
On the commodity front, precious metals are trading stronger, with gold trading above $1,800 and platinum and palladium trading at $1,025 and $2,302 respectively. “Brent Crude has entered its seventh straight week of gains, and with OPEC reluctant on supply increases and inventories heading lower, we can expect the price to continue to be stretched,” says TreasuryONE.
SA Business
The ‘real’ value of the rand in 2022 – according to the Big Mac index – BusinessTech
What it costs to say goodbye to Eskom –MyBroadband
South Africa’s biggest beermaker says government needs to make tax changes in February – Cape Business News
Global Business
What it’s like inside China’s Covid-safe, high-tech Olympic bubble – Bloomberg
Barely 15% of the world’s coastal regions remain ecologically intact, study says – The Guardian
Cuba marks six decades under US sanctions – AFP
Markets
Asian markets mixed as US jobs data ramps up rate-hike bets – AFP
Gold gains as inflation worries outweigh higher yields – Reuters
Oil Mixed, Expectations of Tight Market Remain – Investing.com
Opinion/In-depth
Zebrafish research reveals green rooibos tea’s anxiety-busting properties – The Conversation
Beating Buffett: CEO David Hurwitz shares the four key ingredients of top stock Transaction Capital’s secret sauce – Biznews
How Malusi Gigaba sold South Africa for a song – Daily Maverick
Video
WATCH | Shouting match between Malema and Lamola at JSC hearing as body interviews Zondo – Sowetan Live
Jonathan Pie: ‘Boris Johnson Is a Liar’ – NYT Opinion
US workers quit at near record rates – Reuters
Image: Gallo Images
