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Gov't To Hold State Of Disaster Briefing, S&P Global M'fing PMI Returns To Expansion

SOUTH AFRICA
  • South African Minister in the Presidency Mondli Gungubele will hold a media briefing on the recently gazetted rules surrounding the National State of Disaster announced by President Cyril Ramaphosa over the ongoing energy crisis. The regulations were finalised earlier this week, during a special Cabinet meeting called by President Ramaphosa. The briefing is scheduled to begin at the top of the hour.
  • The latest S&P Global PMI survey showed that South Africa's unexpectedly returned to expansion last month. Headline index improved to 50.5 from 48.7 prior, surpassing the 49.0 consensus forecast. The accompanying commentary noted that "while output levels stabilised in February, they did so after contracting at a solid pace," while "demand indicators again looked bleak."
  • News24 reports that Eskom CEO Andre de Ruyter personally informed national police commissioner General Fannie Masemola about corruption allegations regarding two senior ANC government officials. A senior police official is reportedly investigating these claims. This comes after several senior ANC figures demanded that de Ruyter reports his corruption allegations to law enforcement authorities or face legal action.

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