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Coalition Talks Drag On As First Parliament Sitting Approaches

SOUTH AFRICA
EM BulletHomepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletEmerging Market NewsPolitical Market News
  • The clock is ticking for South African parties to finalise coalition talks before the new parliament meets for the first time tomorrow to elect its Speaker and the country's President. BusinessDay reports that "Cyril Ramaphosa’s re-election for a second term is not yet fait accompli," with the Democratic Alliance (DA) noting that it is yet to reach a deal with the African National Congress (ANC).
  • The Constitutional Court dismissed ex-President Jacob Zuma's application to interdict the National Assembly from convening on Friday. Zuma's uMkhonto weSizwe (MK) Party insists that it must be allowed to challenge the results of the recent election before parliament can meet. The MK Party bypassed the Electoral Court and took the matter straight to the Constitutional Court, while failing to substantiate its claims that the election was rigged.
  • The Inkatha Freedom Party (IFP) signalled its readiness to join a government of national unity (GNU) involving the ANC and the DA. The party is also engaging in talks with the ANC, DA and the National Freedom Party (NFP) at the provincial level in KwaZulu-Natal after MK Party leaders failed to arrive for a scheduled meeting.
  • South Africa's April mining data will be released at 11:30BST/12:30SAST. Mining output may have increased by 1.1% Y/Y, according to Bloomberg consensus.
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  • The clock is ticking for South African parties to finalise coalition talks before the new parliament meets for the first time tomorrow to elect its Speaker and the country's President. BusinessDay reports that "Cyril Ramaphosa’s re-election for a second term is not yet fait accompli," with the Democratic Alliance (DA) noting that it is yet to reach a deal with the African National Congress (ANC).
  • The Constitutional Court dismissed ex-President Jacob Zuma's application to interdict the National Assembly from convening on Friday. Zuma's uMkhonto weSizwe (MK) Party insists that it must be allowed to challenge the results of the recent election before parliament can meet. The MK Party bypassed the Electoral Court and took the matter straight to the Constitutional Court, while failing to substantiate its claims that the election was rigged.
  • The Inkatha Freedom Party (IFP) signalled its readiness to join a government of national unity (GNU) involving the ANC and the DA. The party is also engaging in talks with the ANC, DA and the National Freedom Party (NFP) at the provincial level in KwaZulu-Natal after MK Party leaders failed to arrive for a scheduled meeting.
  • South Africa's April mining data will be released at 11:30BST/12:30SAST. Mining output may have increased by 1.1% Y/Y, according to Bloomberg consensus.