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Why MNI
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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.
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S. Africa Considers Declaring State Of Emergency Over Eskom Crisis
The two-day strategy meeting (lekgotla) of the ANC's National Executive Committee backed the proposal to declare a national state of emergency over continued power outages that have been crippling South Africa's economy.
- President Cyril Ramaphosa revealed that the government has been discussing imposing measures similar to those that were in place during the COVID-19 pandemic and argued that there was "general agreement" that this was a necessary step.
- Ramaphosa unveiled the plan in his closing address at the ruling party NEC's lekgotla, an annual strategy meeting of ruling party executives, which comes ahead of a Cabinet gathering to be convened Wednesday.
- The NEC asked the presidency to "co-ordinate all processes" and speed up the estimated 18-24 months needed for Eskom to end load-shedding. Declaring a state of emergency would allow for shortening the normal procurement procedures related to the maintenance and refurbishment of power stations.
- This year is currently on track to be worse than the record-breaking 2022 in terms of rolling blackouts, with power rationing exerting an increasing impact on South African households and businesses.
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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.