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Cabinet To Conclude Lekgotla, Eskom Plans To Ease Load-Shedding

SOUTH AFRICA
  • The Cabinet will conclude its strategy meeting (lekgotla), where South Africa's political leaders discuss the priorities for 2023. The ongoing energy crisis is high on the agenda, with the government seeking legal advice on the proposal to implement a national state of disaster.
  • Eskom released a new load-shedding forecast last afternoon. The electricity utility is now planning to de-escalate power outages to Stage 3 on Saturday morning and to suspend it altogether on Sunday morning, before returning to Stage 2 on Sunday afternoon. Eskom noted that "there is a high degree of uncertainty associated with" its forecast.
  • South Africa's S&P Global PMI deteriorated to 48.7 last month from 50.2 prior, suggesting that the economy fell into contraction. The reading undershot the median estimate of 50.0 (breakeven level) and was worst since December 2021.

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