Top news items of S. African major media outlets

The following are highlights of South African major media outlets on Wednesday:

-- The fall in the rand exchange rate helped to ensure that investments held by South Africans abroad were worth more than those held by foreigners in SA for the second consecutive quarter.

But the latest South African Reserve Bank figures show that South African investors continued to move money out of the country at an unprecedented pace in the fourth quarter of last year, as consumer and investor confidence was battered by political events. (Business Day).

-- The ANC in Gauteng wants President Jacob Zuma to reflect deeply and "do the right thing" to resolve the unprecedented crisis facing the governing party in light of a damning Constitutional Court judgment that he violated the Constitution in his handling of Nkandla.

The province held its extended provincial executive committee meeting yesterday, during which Zuma's apology was accepted but a decision was taken that he must resign. (City Press)

-- Deputy Finance Minister Mcebisi Jonas has cautioned the Public Investment Corporation against investing in parastatals that are struggling financially.

He said on Tuesday the National Treasury had cautioned the Public Investment Corporation (PIC) against investing in state-owned enterprises that were struggling to get their finances into order. Enditem