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Free AccessRamaphosa Launches Phala Phala Defence in Front of Lawmakers
- Defending himself in front of lawmakers yesterday, Ramaphosa again denied the theft of cash from his Phala Phala Farm was a form of money laundering, and stated that he will continue to comply with any further investigations.
- In an interview with EWN posted late yesterday, Eskom CEO de Ruyter decried reports of possible stage 15 load-shedding made yesterday as clickbait, adding that South Africa can expect stage 4 load-shedding into Saturday morning, before stage 3 over the weekend and stage 2 by the end of next week.
- The more favourable load-shedding backdrop follows the beginning of more deliveries of diesel, allowing open cycle gas turbines to enter the generation mix.
- Trade and budget balance data are the focuses Friday, with markets also watching for any developments with the Eskom board. It’s thought that a new board of directors could decide the fate of the CEO de Ruyter, rather than a direct decision from government.
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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.