MNI: Canada Apr-Sept Budget Deficit Widens On Spending

CANADA'S TRUDEAU: I CONTINUE TO HAVE GOOD TALKS WITH TRUMP

MNI BRIEF: Little Macro Difference On Rate Oprions- de Guindos

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CANADA Q3 GDP ANNUALIZED +1.0% AS EXPECTED ON GOVT, CONSUMERS

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Ramaphosa Urges Eskom To Suspend Tariff Hike As Utility Flags Two More Years Of Blackouts

SOUTH AFRICA
  • President Cyril Ramaphosa called on Eskom to hold off on the implementation of the 18.65% electricity-tariff hike, which is due to take effect by April, as he conceded that "we cannot end load-shedding overnight." Separately, Eskom chair Mpho Makwana warned that Stage 2 and 3 power outages may be necessary for the next two years, as the electricity utility implements a plan to improve its generation capacity. Meanwhile, Eskom announced that load-shedding would be escalated to Stage 4 from 16:00 today and stay at that level until 05:00 tomorrow.
  • Power outages are translating into growing tensions within the society and the ruling circles. Calls for the replacement of Energy Minister Gwede Mantashe have become louder, while multiple groups have threatened legal action against the government. City Press reported that President Ramaphosa's inner circle is urging him to move Mantashe to a different portfolio during the upcoming Cabinet reshuffle, before the planned transfer of Eskom from the Public Enterprises Department to the Energy Department is completed.
  • The SARB meets this week to decide on interest rates, with the announcement coming up on Thursday. As things stand, 13 out of 18 economists surveyed by Bloomberg expect a 50bp rate hike, albeit market pricing has drifted towards 25bp this month.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.