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SOUTH AFRICA: ANC-DA Talks On Gauteng Executive Hit Another Snag

SOUTH AFRICA
  • Despite the formation of the national cabinet, the African National Congress (ANC) and Democratic Alliance (DA) continue to struggle to break the deadlock in negotiations over the allocations of portfolios in Gauteng. Provincial Premier Panyaza Lesufi was forced to postpone the announcement of his cabinet for the second time yesterday, as the DA turned down his offer to take two portfolios and insisted that it should receive more. Following the recent election, out of the 80 seats in the provincial legislature, 28 are occupied by ANC members and 22 by DA members. The ANC's provincial executive suggested that Lesufi could announce his cabinet today.
  • The National Treasury will sell ZAR1.25bn of 7.000% 2031 bonds, ZAR1.25bn of 9.000% 2040 bonds and ZAR1.25bn of 11.625% 2053 bonds today.
  • South African Reserve Bank (SARB) Governor Lesetja Kganyago will speak on Bloomberg TV at 07:30BST/08:30SAST.
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