Layers and layers of shadow systems and networks were laid bare in Cyril Ramaphosa’s first day of testimony as president of the country at the Commission of Inquiry into State Capture, giving us more insight into who really makes the decisions and how powerful a hand Deputy President David Mabuza has in how the state is shaped, even though he’s been absent for more than a month in Russia seeking medical treatment.
Mabuza finally made his first public appearance yesterday in South Africa amid mounting public concern over his prolonged absence from his duties.
Back at Zondo, we heard how Ramaphosa as deputy president had little say in many key decisions then-president Jacob Zuma had made, but saved us from one disaster just to aid causing another when he respectively threatened to resign as deputy president when weekend-special Des van Rooyen was appointed finance minister and recommended Brian Molefe take the reins at Eskom.
Although he knew, like we all later came to know of the evil called state capture, he only spoke up twice against in the five years of grand corruption. He chose to stay on as deputy president to “resist some of the more egregious and obvious abuses of power”, to ultimately bring about the changes to end state capture through shifting the balance of power.
He denied knowing about many things, but one that we’re all in agreement is that the road from state capture will be long.
We remain on the edge of our seats as the president’s testimony continues…
In power shifting on another level China has said its crackdown on business is to go on for years.
Here’s a roundup of the world’s top and most interesting headlines:
SA Business
South Africa’s richest taxpayers are leaving the country – BusinessTech
Court setback for Guptas and their lawyers – Daily Maverick
Tech companies in South Africa that pay the highest salaries – MyBroadband
Global Business
The new rich are overtaking old money in Korea’s billionaire rankings – Bloomberg
Cryptocurrency heist hacker returns $260m in funds – BBC
Mailchimp explores R146 billion sale – MyBroadband
Markets
Gold down, but retails gains as US data calms Fed taper fears – Investing.com
Asian stocks up as US data indicates slowdown in inflation – Investing.com
Dollar down, but near 4-month high as US data cools Fed taper expectations – Investing.com
Opinion
The Zuma-Ramaphosa political marriage was of no convenience – Daily Maverick
Zweli Mkhize, Digital Vibes corruption saga – Paul O’Sullivan unpacks the gory details – Biznews
Credit ratings are punishing poorer countries for investing more in health care during the pandemic – The Conversation
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