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Another Poll Shows Support For ANC Slips, Gordhan Says Eskom Should Have New CEO By Dec

SOUTH AFRICA
  • Support for the African National Congress (ANC) fell to 45% in the latest opinion poll by the Social Research Foundation (SRF) from 52% recorded in March this year and 50% in July 2022. The Democratic Alliance (DA) improved its score to 31% from 24% in March, while the Economic Freedom Fighters (EFF) shed 3pp landing on 9%. South Africa will hold general elections in 2024, with President Cyril Ramaphosa yet to announce, as the Electoral Commission suggested that it will be between May and mid-August.
  • Public Enterprises Minister Pravin Gordhan told lawmakers that Eskom should have a new CEO by December, but he doesn't yet have a preferred candidate. The process hit a snag amid Gordhan's reported clash with the utility's board over the best candidate for the next CEO. The Minister rejected accusations of political interference.
  • Eskom said that "whilst the generation fleet is currently fairly constrained, emergency reserves are adequate and as a result, loadshedding will remain suspended until 16:00 on Thursday. Stage 1 loadshedding will resume on Thursday from 16:00 until 05:00 on Friday. Thereafter, loadshedding will be suspended until 16:00.
  • South Africa's September PPI figures will cross the wires at 10:30BST/11:30SAST. Consensus looks for an acceleration to +5.0% Y/Y from +4.3% recorded in August.
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