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Ramaphosa Looking More Likely to Retain ANC Head Position

SOUTH AFRICA
  • Bloomberg report that Ramaphosa is likely to retain his position as head of the ANC this December, with officials allied to him progressing further in local and provincial elections. This weekend, Limpopo re-elected a key Ramaphosa ally, with recent votes in Mpumalanga and East Cape also working in his favour.
  • The now two-month old strike at Sibanye Stillwater’s gold mine has ended, with the National Union of Mineworkers accepting the latest offer from management.
  • In an article posted to News24, Ramaphosa writes that it would be difficult to extend the suspension of the fuel levy indefinitely due to the impact on public finances, but vows to improve South Africa’s food security and agricultural sector to withstand any future shocks.
  • Moneyweb writes that Eskom are to hold an ‘electricity crisis roundtable’ with global energy experts in June. The utility will seek expertise on operations as load-shedding and technical issues continue to plague industry and households across South Africa.
  • BusinessLive cites warnings from two of the country’s largest asset managers that Godongwana’s budget amendments could prompt R600-800bln in outflows from South Africa over the coming five years, as regulations surrounding changes to asset allocation allow for savings funds to invest 45% of assets offshore.
  • Controversy surrounding claims made by former spy boss Arthur Fraser continue to dominate the weekend press, with opposition parties demanding a clearer explanation from the President. Ramaphosa himself continues to deny any wrongdoing, as he laid out last week.
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