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Eskom Escalates Load-Shedding, ANC Elective Conference Draws Nearer

SOUTH AFRICA
  • The ruling ANC decided to postpone considering probes by its investigation committee into scandals involving President Cyril Ramaphosa and his contender to become the next party leader Zweli Mkhize at the five-yearly elective conference which kicks off Saturday. While Ramaphosa avoided an outright ouster when the Phala Phala scandal resurfaced a couple of weeks ago, local media outlets reported that some of Ramaphosa's rivals continue to plot against him.
  • Eskom defied a government directive to cut power outages and said it would escalate load-shedding to Stage 5 amid breakdowns at three power stations and "unusually high demand." Despite continued problems with electricity supply, it confirmed that Unit 1 of the Koeberg nuclear-power plant was taken offline for refuelling and maintenance. Analysts from the Bureau for Economic Research said that at a point last week, Eskom was technically shedding at Stage 7."
  • This week will see some notable local data releases, namely CPI & retail sales (Wednesday), as well as non-farm payrolls (Thursday).
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