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Free AccessPutin To Skip BRICS Summit, Ramokgopa Praises Improvement In Energy Situation
- The Sunday Times reported that President Cyril Ramaphosa convinced his Russian counterpart Vladimir Putin to skip the August BRICS summit in South Africa. Sources told the newspaper that leaders reached agreement during private talks last weekend, when Ramaphosa was visiting Russia as part of the African "road to peace" mission. Presented with three options - staying home, attending virtually or attending in person at another venue - Putin reportedly chose number one. Foreign Minister Sergei Lavrov is expected to represent Russia at the summit. Should these reports be confirmed, South Africa would avoid the legal dilemma surrounding the ICC arrest warrant against Putin, which would also help it push back against accusations of clearly pro-Russian leanings.
- Electricity Minister Kgosientsho Ramokgopa lauded progress in reducing rolling blackouts and said that Eskom managed to improve its Energy Availability Factor (EAF) to 60%, getting closer to the 70% target. Ramokgopa said that the government was considering a model in which the private sector would build new generation capacity before transferring it to the government.
- Eskom released a load-shedding schedule for the coming days, noting that Stage 3 power rationing will be implemented over the evening peak periods and suspended from midnight until 16:00 local time until further notice.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.