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Panel Hands Over Report On Phala Phala Scandal To Parliament, Budget & Trade Data On Tap

  • An independent panel appointed by parliament held a briefing on its probe into whether there are grounds for impeaching President Cyril Ramaphosa over his role in the Phala Phala scandal. The panel's report has been handed to the Speaker and will be published later today, with lawmakers set to consider it on December 6. Ruling ANC party's Secretary General Mashatile said that the party's top four leaders will discuss the common stance towards the report this evening. It is unclear if the ANC will protect Ramaphosa in a potential impeachment trial, even as he is expected to be re-elected as party leader at the national conference next month.
  • South Africa's energy regulator Nersa postponed the decision on electricity tariffs for the next two years that was meant to be announced Tuesday. Nersa's member Nhlannhla Gumede said that the decision will be taken by the end of December. The performance of South Africa's energy infrastructure is creating a notable drag on the economy, with the SARB mentioning it as a risk to financial stability in the FSR published yesterday.
  • Coming up on the data front today are South Africa's October trade balance and monthly budget balance.

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