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Ramaphosa Declares ANC Leadership's Support For Government Of National Unity

SOUTH AFRICA
  • The African National Congress top leadership structure (National Executive Committee or NEC) backed the proposal to build a national unity government with opposition parties after it fell short of a parliamentary majority in the recent general election. President Ramaphosa confirmed that talks have been held with the DA, EFF, IFP, NFP and PA, while also noting that the ANC would not partner with those wanting "to cause chaos and instability a division" - likely a reference to ex-President Jacob Zuma and his MK Party.
  • TimesLive reported that Deputy President Paul Mashatile "appears to have come out of the special national executive committee (NEC) meeting on Thursday unscathed," despite earlier speculation that he might become the "sacrificial lamb." According to sources quoted in the article, it is expected that Mashatile retains his position in the next Cabinet.
  • SARB Governor Lesetja Kganyago warned that the next government will need to demonstrate more fiscal prudence, or risk having to approach the International Monetary Fund for a bailout. The official also said that the government "would easily more than double its debt just to buy the banks," should it decide to follow nationalisation policies proposed by parties such as the EFF and MK.
  • The National Treasury will sell inflation-linked bonds today.
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