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Eskom Chief Sees Faster Than Expected Return Of Kusile Power Station Units

SOUTH AFRICA
  • Eskom CEO Calib Cassim said that the return to service of Kusile power station's units in November will help the electricity utility suspend loadshedding ahead of the festive season. The official said that the ongoing works at Kusile are running ahead of schedule and Eskom is looking to add 2,880MW from the power station to the grid before the end of the year.
  • Finance Minister Enoch Godongwana told reporters that "no one has tabled the issue of a BRICS currency, not even in informal meetings." He added that "setting up a common currency presupposes setting up a central bank, and that presupposes losing independence on monetary policies, and I don't think any country is ready for that."
  • The rand corrected its recent advance, with USD/ZAR adding 1.8% yesterday. Broad-based demand for the greenback facilitated the move, but some attributed rand weakness to the outcomes of the 15th BRICS Summit, with the proposed expansion raising the risk of the bloc's pivot in the anti-West direction.
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