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Further Legal Headaches Conspire Against Ramaphosa

SOUTH AFRICA
  • The South Gauteng High Court has now formally placed Comair under provisional liquidation. Comair suspended operations earlier in June, saying that it was unable to make wage payments owed to its workers beyond May 2022.
  • Legal headaches for President Ramaphosa continue Wednesday, with the currently suspended Public Protector Mkhwebane giving the President until 5pm today to reverse her suspension or face a legal battle into his actions. According to AAGM, Mkhwebane is accusing the president of failing to scrutinise several submissions she made, which he was supposed to consider before making a decision on her suspension.
  • Moneyweb write that while JSE investors are sitting on losses of circa 11% this year, monthly trading volumes remain consistent, with R400bln expected to be traded per month into the end of June.
  • Retail sales data takes focus going forward, with markets expecting M/M sales to drop 1.3% and Y/Y to rise 1.7%. The data crosses at 1pm local time (1200BST/0700ET).
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  • The South Gauteng High Court has now formally placed Comair under provisional liquidation. Comair suspended operations earlier in June, saying that it was unable to make wage payments owed to its workers beyond May 2022.
  • Legal headaches for President Ramaphosa continue Wednesday, with the currently suspended Public Protector Mkhwebane giving the President until 5pm today to reverse her suspension or face a legal battle into his actions. According to AAGM, Mkhwebane is accusing the president of failing to scrutinise several submissions she made, which he was supposed to consider before making a decision on her suspension.
  • Moneyweb write that while JSE investors are sitting on losses of circa 11% this year, monthly trading volumes remain consistent, with R400bln expected to be traded per month into the end of June.
  • Retail sales data takes focus going forward, with markets expecting M/M sales to drop 1.3% and Y/Y to rise 1.7%. The data crosses at 1pm local time (1200BST/0700ET).