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Labour Union Federations May Resume Strikes, Eskom Warns Power Cuts Will Continues

SOUTH AFRICA
  • Public service labour union federations Cosatu, Saftu and Fedusa have threatened to hold another strike this Friday (December 2) as the government refuses to yield to their wage-hike demands. Civil servants are calling for double-digit wage rises versus the 3% offered by the authorities. Last Friday, Fitch affirmed South Africa at BB- with a stable outlook, but warned that the proposed increase in wages would put South Africa's debt servicing outlook at risk.
  • Eskom announced the suspension of rolling blackouts from Sunday midnight, with Stage 1 resumption scheduled for 5am to 4pm today and Stage 2 set to begin thereafter. There are no power outages planned for Tuesday. The energy provided said rolling blackouts are only implemented as a "last resort," but it is facing numerous plant breakdowns and limited emergency generation reserves.
  • The parliamentary impeachment proceedings against suspended Public Prosecutor Busisiwe Mkhwebane's fitness to hold office resumes today following a two-week hiatus caused by a court appeal surrounding the suspension.
  • Data releases for this week kick off tomorrow with October money supply/private sector credit and Q3 unemployment.

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