Free Trial

ANC Suggests It Won't Sack Ministers Ahead Of 2024 Elections

SOUTH AFRICA
  • ANC Secretary General Fikile Mbalula hinted that the party will not push for the ouster of Public Enterprises Minister Pravin Gordhan. The official said that the party is not afraid of Gordhan but cannot afford to remove ministers so close to elections. This comes after party executives were reportedly dissatisfied with Gordhan's presentation on his handling of state-owned enterprises.
  • US Senator John Kennedy proposed legislation that would extend the preferential access of sub-Saharan countries to US markets by 20 years to 2045 in a bid to deter "China's growing influence throughout the region".
  • Eskom switched to Stage 1 loadshedding until 05:00 this morning, when it suspended power cuts. Stage 2 loadshedding will return between 16:00 and 05:00 on Friday. This pattern (suspension/Stage 2) will be repeated until further notice.
  • The SARS said that they "estimated last year that revenue lost to loadshedding was about ZAR60bn but could easily be as high as ZAR150bn". The agency pointed to low tax compliance and poor economic growth as factors limiting tax revenue.

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.