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Ramaphosa Says BRICS Summit Will Take Place In S. Africa

SOUTH AFRICA
  • President Cyril Ramaphosa told BRICS Business Council last night that the upcoming BRICS summit would take place in South Africa, while the organisation's head Stavrous Nichalouw added that all five leaders of the bloc's member states would attend in person. There has been speculation that the summit could be taken online, moved to another venue or that Russia could be represented by another official, since the ICC issued an arrest warrant against Vladimir Putin. Latest suggestions from Ramaphosa and Nichalouw are yet to be officially confirmed.
  • Deputy President Paul Mashatiile joined the efforts of a high-level government delegation to protect South Africa's preferential trade access to US markets under AGOA. The official met with the SA American Chamber of Commerce yesterday to ask US businesses for their support. Pretoria is trying to lobby the US not to take away its preferential trade status after a bipartisan group of Congresspeople asked the White House to consider such a move over South Africa's relations with Russia.
  • Stage 6 load-shedding will continue to be implemented over the weekend, until further notice, as Eskom tries to replenish depleted generation reserves.
  • The risk-sensitive rand hit its best levels in over three months yesterday, with USD/ZAR breaking below the psychological 18.00 figure.

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