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Corruption Showdown Sees Ramaphosa Take The First Hit

SOUTH AFRICA

Local news

  • Ramaphosa seen to take the first loss in the factional battle against Ace magashule after legal experts say there is no precedent for MPs implicated in corruption to step aside as forcing anyone to do so would amount to suspension.
  • Corruption accused are claiming innocence until proven guilty. This comes ahead of an official decision on the 'step aside rule' this week - News24
  • Markets surprised by downgrade from both Moody's (Ba2) & S&P (BB-) (Fri) and negative outlook opens the door to more possible downgrades in the future.
  • Both cite deteriorating fiscus & weak GDP growth over the medium-term aas key risks - BusinessTech
  • Analyst notes two outcomes for SABC: Govt must either provide a further R1bn bailout on an annual basis, or allow the board to move ahead with retrenchments, despite union protests - News24.
  • Decision will be symbolic of Govt's resolve to make hard decisions on fiscal consolidation
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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