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Magashule Supporters to "Fight to the End", Moody's Eyes Wage Negotiations

SOUTH AFRICA

LOCAL NEWS

  • Magashule supporters say they will "fight to the end" to ensure he remains ANC Secretary General after his step-aside deadline expired last week.
    • NWC is set to discuss the step aside resolution and provide a report for the NEC to make its final decision on Friday
    • Local economist says strike season with wage negotiations now in full swing could be the biggest risk to investor confidence.
  • Eskom wage negotiations start today alongside pre-existing public sector wage negotiations with Govt that are currently deadlocked and may see strike action initiated this week
  • First batch of 325,000 Pfizer vaccines arrive in Johannesburg – this will be followed by weekly deliveries up to a total of the 4.5m doses expected to arrive before the end of June.
    • Health Min says more J&J doses will be released mid-way through April
  • Moody's to review SA's Credit rating on May 7th - Local economist says she does not believe SA will be downgraded just yet
    • but notes Agencies have warned that Eskom continues to present material downside risks to public finances and current wage negotiations will be monitored closely
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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