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Ramaphosa Garnering Support As Official Nomination Process Kicks Off

SOUTH AFRICA
  • Today marks the formal beginning of the re-nomination process for the leadership of the ANC, will Ramaphosa’s office already confirming the President’s intention to stand once again earlier this week. In the interim, his support is already building, with both Limpopo and the North West province opting to back the President in their most recent provincial executive meetings.
  • In an interview with the 702 radio station, the CEO of the tax service SARS stated that South Africa’s tax base is shrinking, forcing the service to squeeze existing taxpayers harder as the tax base fails to keep up with population growth.
  • Foreign reserves data released this morning showed gross reserves rose ahead of forecast: $59.756bln vs. Exp. $59.13bln, with net reserves of $53.141bln vs. Exp. $53.65bln.
  • BER Business Confidence data takes focus going forward, with the Q2 last seen at 42.00. Data crosses at midday local time (1100BST).
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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