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Ramaphosa Heads to UK as Eskom Diesel Reserves Spiral

SOUTH AFRICA
  • Moneyweb writes on the options facing Eskom amid the diesel crunch and load-shedding crisis. Options cited by various economists include a government transfer of ZAR10 – 20bln to buy diesel and broad cost-cutting, neither of which would harm the fiscal outlook for the government or Eskom’s staffing levels, according to the piece.
  • Workers represented by the Cosatu, Fedusa and Saftu unions will strike in a national day of action today, after the government rejected appeals to up their pay rise offer on Friday last week.
  • Unions are demanding a 10% pay rise, while the government’s highest offer is 3%. The strikes appear to be going ahead despite last minute urgent meeting demands made by government, according to EWN.
  • The ANC will formally announce the nominees for December’s elective conference today, with local branches submitting their candidates, before they’re vetted by a central committee. This should mark the formal beginning of Ramaphosa’s re-election campaign, who heads to the UK for a state visit, holding talks with UK PM Sunak.
  • Leading indicator data for September rose to 125.0 from 123.4 previously.
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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