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FinMin Godongwana Flags Need To Delink From Western Trade Partners

SOUTH AFRICA
  • Finance Minister Enoch Godongwana stressed the need to delink South African economy from the West. Speaking on a panel about the expansion of BRICS, the official said that "changing the trading partners" is "quite critical" for Pretoria. Other speakers on the panel played down ideological differences between BRICS members, with UAE Economy Minister Abdulla Bin Touq calling the bloc "opportunities", "trade" and "economic drivers" rather than a political alliance.
  • African National Congress (ANC) Secretary General Gwede Mantashe said that former President Jacob Zuma should face disciplinary sanctions, but will likely avoid them due to the upcoming general elections. Last month Zuma declared that he would not vote for the ANC and would campaign for a new party.
  • South Africa will offer ZAR1bn of inflation-linked bonds due 2029, 2038 and 2058 at its weekly auction ahead of the release of CPI data next Wednesday and the SARB's rate decision next Thursday.
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