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ANC Top Brass Discuss Strategy Ahead Of Formal Coalition Talks

SOUTH AFRICA
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  • The African National Congress' (ANC's) National Executive Committee (NEC) convenes today to discuss coalition scenarios after the party fared worse than expected in national and provincial elections held over the weekend. The party's spokesperson said that initial talks were held with rivals from the Democratic Alliance (DA) and the Economic Freedom Fighters (EFF). Separately, the Daily Maverick claimed that they saw internal ANC documents indicating that the party's most favoured option would be a "confidence and supply" agreement with the DA and IFP., although other scenarios (such as a "national unity" government) are also on the table. Meanwhile, a DA source told News24 that the main opposition party is ready to put its differences with the ANC aside and enter a coalition pact to prevent the EFF and the MK Party from taking government posts. The announcement of the results on Sunday set the clock ticking for the National Assembly to hold its first meeting within 14 days.
  • SARB Governor Lesetja Kganyago and his deputies will participate in the SARB Forum this evening. The event will be broadcast live via the SARB's social media channels from 17:00BST/18:00SAST.
  • Statistics SA will release Q1 GDP data at 10:30BST/11:30SAST. The economy may have grown by 0.8% Y/Y in the three months through end-March.
  • The National Treasury will offer ZAR1.25bn of 8.875% 2035 bonds, ZAR1.25bn of 9.000% 2040 bonds and ZAR1.25bn of 11.625% 2053 bonds for sale today.
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  • The African National Congress' (ANC's) National Executive Committee (NEC) convenes today to discuss coalition scenarios after the party fared worse than expected in national and provincial elections held over the weekend. The party's spokesperson said that initial talks were held with rivals from the Democratic Alliance (DA) and the Economic Freedom Fighters (EFF). Separately, the Daily Maverick claimed that they saw internal ANC documents indicating that the party's most favoured option would be a "confidence and supply" agreement with the DA and IFP., although other scenarios (such as a "national unity" government) are also on the table. Meanwhile, a DA source told News24 that the main opposition party is ready to put its differences with the ANC aside and enter a coalition pact to prevent the EFF and the MK Party from taking government posts. The announcement of the results on Sunday set the clock ticking for the National Assembly to hold its first meeting within 14 days.
  • SARB Governor Lesetja Kganyago and his deputies will participate in the SARB Forum this evening. The event will be broadcast live via the SARB's social media channels from 17:00BST/18:00SAST.
  • Statistics SA will release Q1 GDP data at 10:30BST/11:30SAST. The economy may have grown by 0.8% Y/Y in the three months through end-March.
  • The National Treasury will offer ZAR1.25bn of 8.875% 2035 bonds, ZAR1.25bn of 9.000% 2040 bonds and ZAR1.25bn of 11.625% 2053 bonds for sale today.