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Political Analyst Says Chaos in Hung Metros to Persist in 2022

SOUTH AFRICA

LOCAL NEWS

  • Political analyst says chaos at last week’s Joburg city council was a red flag and a sign of more difficulties to come in hung municipalities.
    • This comes after the council collapsed and EFF & ANC members fought, resulting in injuries
  • Eskom says its proposed 20.5% increase to the price of electricity is beyond its control, as the increase is based on a requirement to increase purchases of power from independent producers and carbon taxes. The price hike faces legal challenges from businesses and some local governments.
    • Energy regulator Nersa has rarely granted Eskom its full request. Eskom has also indicated that it plans to ask for a further 15.07% increase in 2024 and a 10% increase in 2025.
    • However, this will depend on the actual increase that Nersa grants Eskom this year.

Data:

  • 0930GMT: Nov Mining prod y/y exp at 3.5% vs 2.1% prior
  • 0930GMT: Nov Mining prod m/m exp at -0.5% vs 3.4% prior
  • 0930GMT: Nov Gold prod y/y, -3.5% prior
  • 0930GMT: Nov Platinum prod y/y, 24.0% prior
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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