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SOUTH AFRICA: ANC & DA Clash Over Expropriation Bill

SOUTH AFRICA
EM BulletBulletEmerging Market News
  • Government of National Unity (GNU) partners African National Congress (ANC) and Democratic Alliance (DA) clashed over the Expropriation Act signed by President Cyril Ramaphosa yesterday. The bill updates the rules on how state organs can take land in public interest and was part of an ANC resolution during its 2017 elective conference. The DA alongside AfriForum, ActionSA and other organisations signalled a possible legal challenge to the legislation. The DA noted that they are in talks with its legal team on how to proceed.
  • Cape Town Mayor Geordin Hill-Lewis said that he will not contest DA leadership against his "dear friend" John Steenhuisen, quashing months of speculation to that effect. Hill-Lewis said that he is "not seeking another job" and intends to continue in his mayoral role, although he is "not ruling it out for the future." The DA will hold its next federal congress in 2026, the same year when South Africa is due to hold local government elections. Meanwhile, IOL sources said that "there is a growing dissatisfaction with with John Steenhuisen's leadership" and "a group led by [Federal Chair] Helen Zille is attempting to remove [him] from office."
  • Bank of America wrote that South Africa's credit rating could be revised higher by two notches over the next three years if South Africa delivers stronger GDP growth of at least 1.5% annually.
  • The National Treasury holds a linkers auction today.
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  • Government of National Unity (GNU) partners African National Congress (ANC) and Democratic Alliance (DA) clashed over the Expropriation Act signed by President Cyril Ramaphosa yesterday. The bill updates the rules on how state organs can take land in public interest and was part of an ANC resolution during its 2017 elective conference. The DA alongside AfriForum, ActionSA and other organisations signalled a possible legal challenge to the legislation. The DA noted that they are in talks with its legal team on how to proceed.
  • Cape Town Mayor Geordin Hill-Lewis said that he will not contest DA leadership against his "dear friend" John Steenhuisen, quashing months of speculation to that effect. Hill-Lewis said that he is "not seeking another job" and intends to continue in his mayoral role, although he is "not ruling it out for the future." The DA will hold its next federal congress in 2026, the same year when South Africa is due to hold local government elections. Meanwhile, IOL sources said that "there is a growing dissatisfaction with with John Steenhuisen's leadership" and "a group led by [Federal Chair] Helen Zille is attempting to remove [him] from office."
  • Bank of America wrote that South Africa's credit rating could be revised higher by two notches over the next three years if South Africa delivers stronger GDP growth of at least 1.5% annually.
  • The National Treasury holds a linkers auction today.