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Government Considers Declaring National State Of Disaster, Cabinet Reshuffle Imminent

SOUTH AFRICA
  • President Cyril Ramaphosa said at a meeting of the African National Congress that the government considers declaring South Africa's continued power outages a national state of disaster. The administration is taking legal advice on whether the necessary requirements have been met to implement measures that last were in place during the COVID-19 pandemic. Declaring a state of disaster would allow electricity utility Eskom to shorten procurement procedures and potentially reduce the time needed for maintenance and refurbishment.
  • BusinessDay reported that ANC Deputy President Paul Masathile could be sworn in as an MP as soon as today, in order to pave way for him to replace David Mabuza as South Africa's Deputy President, bringing party and state roles in line. The news website cited a letter dated January 30 and sent from the National Assembly Speaker's office to ANC Secretary General Fikile Mbalula. Mabuza is expected to be replaced as part of a broader Cabinet reshuffle in the wake of the ANC's recent electoral congress.
  • South Africa's M3 money supply grew by 8.66% Y/Y last month, missing the +8.70% estimate. Private sector credit was up 7.73% Y/Y versus +8.30% expected. The focus on the data front turns to monthly trade balance, coming up later in the day.
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