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Ramaphosa Outlines ANC's Priorities For 2023, S. Africa's Gross Reserves Expand

SOUTH AFRICA
  • During the ANC's birthday celebration, President Cyril Ramaphosa said that tackling power outages, crime, and corruption will be the party's top priorities in the coming year. He told the audience that the government will work with Eskom to urgently find solutions to the rolling blackouts that have been haunting South Africa's economy.
  • Meanwhile, the energy utility noted that it would implement Stage 3 load-shedding between 05:00 and 16:00, switching to Stage 4 during 16:00 - 05:00 daily until further notice. Separately, outgoing Eskom CEO De Ruyter confirmed that he survived a murder attempt last month, when he drank a poisoned coffee.
  • Delegates to the ANC's elective conference, which resumed for the second leg last week, told the Daily Maverick that they were unable to reach a quorum to pass the proposed changes to the party's constitution. Some delegates reportedly left the meeting after the top brass decided that the conference would go on until late night.
  • South Africa's gross reserves rose to $60.57bn last month from $59.88bn prior, reaching the highest level in a Bloomberg data series running back to 1998. Net reserves expanded to $53.83bn from $53.39bn.
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