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Further National Strikes Could Hinder Growth Once More

SOUTH AFRICA
  • The Daily Maverick cites security sources as saying that South Africa could face another wave of rioting similar to that seen in July last year, likely driven by the pro-Zuma RET faction and marked by guerilla-style sabotage. The sources, who briefed the government on riot risks well in advance of last year’s unrest, see the aim as keeping Zuma and his allies out of jail.
  • ENCA reports that further national strike action could be forthcoming, with Saftu confirming plans to embark on a national day of strike action in August to protest the high cost of living. Saftu says it has embarked on mobilising all affiliated unions and those outside the federation to unify against government failure. The piece writes that hundreds of thousands of people are expected to join.
  • Late yesterday, Fitch affirmed South Africa at BB-; Outlook stable. Fitch said that the trajectory of government debt has been lower than previously anticipated, with other key metrics improving, although loadshedding risks and rising inflation to counter the positives.
  • BusinessDay writes that trucker blockage protests have been countered by firm government action, prompting a senior adviser to Ramaphosa stating that the government is determined to bring ‘economic banditry’ to a stop.
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