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Markets Look for Detail on Eskom Climate Funding

SOUTH AFRICA
  • Markets will likely see more detail on the cabinet’s climate finance investment plan today, with a post-cabinet meeting media briefing due at 11am local time (1000BST). Reports circulated yesterday that the plan could have already seen ministerial approval, and should be released publicly over the next week or do. The pact could see a value of as much as $8.5bln – and markets will be watching how much of those funds head toward Eskom.
  • The Satawu union have called off their strike action at Transnet, with workers to return to their posts this morning. The move comes after initially rejecting the wage offer accepted by other unions, but are now to rescind strike action “in the interest of the economy”.
  • Eskom notified this morning that stage 3 loadshedding is to continue until further notice thanks to a failure of 2 generation units at the Kendal plant as well as outages at both Kriel and Arnot power stations overnight. A full statement is to follow.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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