Free Trial

Ramaphosa to Receive 4th Zondo Report on Eskom, Treasury & Free State Asbestos Scandal

SOUTH AFRICA

LOCAL NEWS

  • Ramaphosa set to receive the fourth instalment of the Zondo report today after delays. This instalment is expected to focus on Eskom state capture, the Treasury and the Free State asbestos scandal in which ANC Sec Gen Magashule was implicated and suspended for corruption. – EWN
  • Treasury takes a tough stance ahead of public sector wage talks with unions, saying that public sector wage increases must be aligned with budgetary commitments, which have already been pencilled in as below inflation increases as of the Feb budget.
    • Unions have already intimated that they are also preparing for tough negotiations, which risks seeing extensive strike action this year – BusinessDay
  • KZN premier Zikalala estimates that KZN flood damage could reach as much as R17bn as analaysts warn that more rainfall is headed for the region in the coming weeks. The Durban port (responsible for 60% of SA’s shipments) has, however, restarted operations slowly with a focus on food, medical and fuel supplies.
  • in a Sunday meeting the ANC discussed land donations among new policy proposals, asking that farmers donate land to underprivileged farmers as the ANC attempts to find ways to improve the land expropriation drive, which has mostly failed.
    • The EFF remains insistent that the state is the overall custodian of land and remains the major hurdle, but the ANC seems to be closing the door on this. Efforts to merge, privatise or sell ailing SOEs were also discussed on Sunday – BusinessDay
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.