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Ramaphosa Works On Cabinet Reshuffle, Local Data On Tap

SOUTH AFRICA
  • President Ramaphosa is preparing the expected reshuffle of his Cabinet and is consulting with the ruling ANC party's leaders on the matter. Local media reported that Finance Minister Enoch Godongwana will be sworn in as an MP in the coming days to pave the way for a new non-MP minister to take office. According to the Mail & Guardian, Ramaphosa is planning to hand the newly created electricity portfolio to a non-MP politician, with some speculating that his innfrastructure czar Kgosientwo Ramokgopa could be tapped to fill the vacancy.
  • Public Enterprises Minister Pravin Gordhan revealed that he was the minister mentioned by former Eskom CEO de Ruyter in his tell-all interview. Gordhan noted that de Ruyter approached him to discuss allegations of corruption in the embattled electricity utility but dismissed them as "allusions" not backed by any evidence.
  • South Africa's unemployment data for 4Q2022 will cross the wires later this morning, with consensus calling for a marginal decrease in the jobless rate to 32.6% from 32.9% prior. Trade and budget data for January will be published later in the day, with trade balance expected to have flipped into a deficit of ZAR7.5bn from a surplus of ZAR5.4bn recorded in December.
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