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GNU Now Includes Five Parties, Cabinet Talks Are Ongoing

SOUTH AFRICA
EM BulletHomepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletEmerging Market NewsBond Market News
  • The African National Congress (ANC) said that the government of national unity (GNU) now involves five parties representing more than two-thirds of all members of the National Assembly (specifically 273 seats or 68%), after the Patriotic Alliance (PA) and GOOD have signed statements of intent, while talks with other parties are ongoing. Freedom Front Plus (FF+) is among the parties who are still negotiating its access to the GNU, but has proposed some amendments into the coalition agreement.
  • President Cyril Ramaphosa is expected to announce the Cabinet line-up after his inauguration on Wednesday. The leader can allocate only two portfolios to people who are not members of parliament. Moneyweb reported that one of these posts may go to International Relations and Cooperation Minister Naledi Pandor.
  • KwaZulu-Natal Premier Thami Ntuli will be inaugurated this morning after the GNU coalition outmanoeuvred the uMkhonto WeSizwe (MK) Party, which garnered 45% of all votes in KZN and managed to form provincial administration. Ntuli defeated his rival Inkosi Phathisizwe Chiliza of the MK Party by 41 votes to 39.
  • The National Treasury will sell ZAR1.25bn of 7% 2031 bonds today. The local data docket is empty.
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  • The African National Congress (ANC) said that the government of national unity (GNU) now involves five parties representing more than two-thirds of all members of the National Assembly (specifically 273 seats or 68%), after the Patriotic Alliance (PA) and GOOD have signed statements of intent, while talks with other parties are ongoing. Freedom Front Plus (FF+) is among the parties who are still negotiating its access to the GNU, but has proposed some amendments into the coalition agreement.
  • President Cyril Ramaphosa is expected to announce the Cabinet line-up after his inauguration on Wednesday. The leader can allocate only two portfolios to people who are not members of parliament. Moneyweb reported that one of these posts may go to International Relations and Cooperation Minister Naledi Pandor.
  • KwaZulu-Natal Premier Thami Ntuli will be inaugurated this morning after the GNU coalition outmanoeuvred the uMkhonto WeSizwe (MK) Party, which garnered 45% of all votes in KZN and managed to form provincial administration. Ntuli defeated his rival Inkosi Phathisizwe Chiliza of the MK Party by 41 votes to 39.
  • The National Treasury will sell ZAR1.25bn of 7% 2031 bonds today. The local data docket is empty.