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Government Quietly Setting Up Gas Bridge With Mozambique

SOUTH AFRICA
  • According to reports in amaBhungane, the government are quietly setting up a new state-owned energy firm that will focus on the transit of gas between South Africa and Mozambique. The report follows a continued push from energy minister Mantashe, who is looking to plug the energy gap in the country with more diversified supply. The report goes on to say, however, that some concerns remain about the setting-up of the company, with doubts about whether the spending was OKed by the National Treasury.
  • Despite comments from the Eskom CEO over the weekend that the worst of the load-shedding crisis was over, EWN writes that further load shedding and rolling blackouts are inevitable until Eskom is able to secure more generation capacity in the future. EWN write that 4-6,000 MW in new generation is required to end load-shedding for good – a subject that’s expected to be a focus of Ramaphosa’s plans for the utility going forward.
  • CPI for June crosses at 0900BST/0400ET, and is expected to show inflation rose further above the op-end of the SARB target range, to 7.3%, the highest since 2002. The release comes ahead of tomorrow’s SARB rate decision, at which the bank are seen choosing between a 50 and a 75bps rate rise. Full MNI Preview here: https://marketnews.com/mni-sarb-preview-july-2022-...
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