Focus Shifts to Feb SONA Venue, Parliament Fire Likened to July Riot Activity

LOCAL NEWS

• Venue for the Feb 2022 State on the Nation Address (SONA) is expected to be announced today with National Assembly in Cape town having been extensively damaged by fires this week.
  • ANC members have said that this fire along with a vandalism incident at the constitutional Court resemble planned insurrection in the July 2021 riots – and remain under investigation by the Hawks.
• Experts warn that the January decline in fuel prices will be short lived and likely remain high for the remainder of the year.
  • This has been a key source of inflation in SA – reflecting heavily in PPI & CPI due to SA’s status as a net importer. Fuel prices have increased 32% y/y according to SAIPA
• NERSA publishes application by Eskom to amend ist generation license for the 1,327mw Ankerlig OCGT power station near Atlantis (Western Cape), which is in line for a planned R3bn expansion.
  • It hopes to have an additional 100mw in operation by March 2024 to provide back-up capacity for the Koeberg plant. A study is underway to convert the Ankerlig plant to burn gas instead of diesel in a move expected to reduce costs significantly

Data:

• 0600GMT: Dec Gross reserves printed at $57.59bn vs $57.62bn prior
• 0600GMT: Dec Net Reserves printed at $55.31bn vs $55.16bn
• 0900GMT: Absa Manufacturing PMI exp at 55.5 vs 57.2 prior