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Eskom Looks to Limit Outages to Stage 4 This Summer

SOUTH AFRICA
  • Eskom’s interim CEO presented the latest plans for the utility late yesterday, outlining plans for fewer electricity outages later this year as weather improves and energy demand wanes. The utility plans to limit outages to stage four (4,000 MW) outages into year-end, despite cuts reaching stage 6 earlier this year.
  • Moneyweb write that Ramaphosa met with business leaders earlier this week, writing that the government is under pressure to up delivery and SA economic growth ahead of the election year in 2024. The President received an update on progress made in the closer collaboration between government and the private sector.
  • Ramaphosa’s charm offensive with business comes as National Treasury looks to curb state spending, with budget cuts expected in the upcoming mid-term budget speech by Finance Minister Enoch Godongwana on 1 November.
  • At the conference, the interim CEO Cassim also stated he will not apply for the position on a permanent basis, a focus as lawmakers have criticised the company for being slow to appoint a new head.
  • PPI data takes focus going forward, with markets expecting Y/Y CPI to rise to 3.7% from 2.7%, and M/M to 0.5% from 0.2% prior. Nonfarm payrolls for Q2 are also set to cross at 0930 local time (1030BST/0530ET).
  • South Africa are hosting a BRICS infrastructure investment Symposium across the next two days, at which the finance minister Godongwana is set to appear. The SARB release their quarterly bulletin for Q2 at 10am local time (0900BST/0400ET)
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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