For Creamer Media in Johannesburg, I’m Lumkile Nkomfe.

Making headlines: ActionSA welcomes Hawks investigation into its complaint against Simelane; Kubayi says Gauteng province planning to convert six hostels into 2 000 family units; And, South Africa’s reforms in spotlight as nation woos investors

ActionSA welcomes Hawks investigation into its complaint against Simelane

Following the criminal charges it laid against Justice Minister Thembi Simelane yesterday, ActionSA revealed that it has received confirmation from the Directorate for Priority Crime Investigation (or the Hawks) that charges of corruption and forgery are being investigated.

It has been alleged that while serving as the mayor of Polokwane in 2016, Simelane took a loan of R575 600 from Gundo Wealth Solutions, the company that brokered “unlawful” investments of R349-million into VBS Bank on behalf of the Polokwane municipality, amongst others.

ActionSA parliamentary leader Athol Trollip said the latest revelations, which prompted ActionSA to lay criminal charges of forgery, suggest that to legitimise an allegedly unlawful transaction, the Minister attempted to use a backdated loan agreement, which appears to have been created ex post facto after the transaction had already been concluded.

ActionSA said it would ensure that accountability on the matter was enforced.

Kubayi says Gauteng province planning to convert six hostels into 2 000 family units

The Gauteng Department of Human Settlements is undertaking detailed planning for the eradication and conversion of six hostels owned by the provincial department to 2 000 family units, Human Settlements Minister Mmamaloko Kubayi said in a written response to questions in the National Council of Provinces.

The provincial department owns the Jeppe, Denver, Murray & Roberts, LTA, MBA and George Goch hostels and provides routine cleaning, major repairs and detailed designs for bulk infrastructure upgrades for these hostels.

Meanwhile, municipalities in the province own a further 59 hostels, for which they provide cleaning, maintenance, structural repairs and upgrading, where necessary.

Kubayi said the national Department of Human Settlements' Gauteng Provincial Administration had prioritised five municipal-owned hostels across the province's various corridors for intervention.

These were Sethokga Hostel in the Eastern Corridor, the Mamelodi Hostel in the Northern Corridor, the Kagiso Hostel in the Western Corridor, the Ratanda Hostel in the Southern Corridor and the Jabulani Hostel in the Central Corridor.

And, South Africa’s reforms in spotlight as nation woos investors

South Africa will need to expedite reforms that can boost economic growth to sustain investor inflows that have flooded in since the formation of a coalition government, according to the world’s largest investment banks.

Since the African National Congress aligned with business-friendly parties after losing its outright majority in May 29 elections, South African markets have been on a tear.

The rand has gained 5% to the dollar, local-currency bonds have outpaced all peers in an emerging-market index with returns of 24% in greenback terms, and the Johannesburg Stock Exchange has hit successive record highs, delivering a 15.7% return in dollar terms.

Deputy President Paul Mashatile and a delegation of ministers are in London this week to secure fresh capital from the likes of JPMorgan Chase & Co. and Goldman Sachs Group.

Investors will continue to look favourably on Africa’s most industrialised economy if it can improve the generation capacity at its State-owned power utility and fix its fraying port and rail operator, JPMorgan strategist David Aserkoff said.

That’s a roundup of news making headlines today

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