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Public Sector Strikes Hit Pause … For Now

SOUTH AFRICA
  • Moneyweb report that public sector workers will continue industrial action against the government’s proposals of a 3% unilateral wage hike – but will pause striking over the holiday period. Union meetings are set to take place early next year, at which the strategy for industrial action will be discussed and finalised.
  • A cabinet reshuffle is becoming more likely in the new year, with newly empowered Ramaphosa under pressure from his biggest supporters to rid the cabinet of his opponents before the end of the ANC’s national conference (deferred to early January).
  • News24 see no end to the animosity between President Ramaphosa and former President Zuma, with Zuma still chasing Ramaphosa via private prosecution case – although the National Prosecutor has clarified that Zuma’s charges fail to meet necessary requirements for consideration.
  • Beleaguered utility Eskom may release delayed financial results later today. The results themselves are unlikely to be market-moving, but any further clarity on the implications for the Treasury’s plan to adopt Eskom debt next year will be carefully watched.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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