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ANC Approves Ramokgopa's Energy Plan, SARB To Release Monetary Policy Review

SOUTH AFRICA
  • ANC National Executive Committee (NEC) wrapped up its meeting to discuss the energy situation and electoral strategy, with Secretary General Fikle Mbalula set to hold a briefing on the conclusions today at 09:00BST/10:00SAST. The NEC gave a thumbs up to Electricity Minister Kgosientsho Ramokgopa's plan to address the ongoing power crisis by increasing the use of diesel and extending the life span of coal-fired power stations. A greater reliance on fossil fuels could jeopardise South Africa's access to $8.5bn in foreign financing for its Just Energy Transition (JET). Meanwhile, News24 reported that the legal teams of the Presidency, Energy Department and Public Enterprises Department are locked in negotiations to define Ramokgopa's formal powers.
  • ANC officials also discussed how to approach next year's general elections. President Cyril Ramaphosa noted that the party will hold an election strategy workshop next month, as it is "in the first instance working to achieve an overwhelming victory," while acknowledging nationwide problems with the stability of coalitions. Ramaphosa added that the NEC adopted a road map for the selection of candidates.
  • Johannesburg Mayor Thapelo Amad resigned just three months after taking office, as a motion of no confidence against himself and Speaker Colleen Makhubele were due to be debated in the council the following day.
  • The SARB will publish its biannual Monetary Policy Review at 15:00BST/16:00SAST. The document covers domestic and international developments that affect the central bank's monetary policy stance.
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