The Alsi on the JSE had increased by more than 2.7 percent, the rand exchange rate appreciated by 1.6 percent and the R186 government bond rate had decreased to 8.16 percent, one of the lowest levels this year.
The crisis for the ANC government after the backlash of students and the public over yet another rape and murder, that of young UCT student Uyinene Mrewetyana, as well as the latest crime statistics had put public opinion on the warpath.
In the light of these developments, Khusela Diko, President Ramaphosa’s spokesperson, said in a cellphone message on Friday that the president intends to announce an urgent joint sitting of Parliament this week.
This will be the first urgent joint sitting of Parliament since the end of the apartheid era. On the economic front, the South African Chamber of Commerce and Industry (Sacci) had announced that the Business Confidence index declined to 89.1points in August - the lowest since the height of the Angola-South Africa war era in August 1985.