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MTBPS Well-Received, Eskom Extend Load-Shedding Plans

SOUTH AFRICA
  • Godongwana’s MTBPS yesterday has been generally well-received by local press, with the scrapping of e-Tolls, higher-than-expected tax revenues and the extension of the social relief distress grant being welcomed by most.
  • With MTBPS detailing plans to take on between one- and two-thirds of Eskom’s R400bln debt pile, an independent contractor is to be hired by the government to advise on conditions that should be attached to the debt relief. This process is expected to be completed by February next year.
  • Following a warning issued by the US Embassy in South Africa yesterday, reports this morning suggest that South African authorities were warned by their US counterparts before the statement was made. The government have ‘noted’ the alert, but minister Gungubele told SABC that the alarm was seemingly not backed up by any evidence.
  • Eskom’s latest load-shedding plans see power cuts continuing into the weekend but dropped to stage 2 and stage 1. Stage 3 will persist into 4pm today, before escalating to stage 4 until Friday morning.
  • Ramaphosa is meeting with his Spanish counterpart later today, while finance minister Godongwana talks through the details of his MTBPS in a webinar hosted by Citadel.
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