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SOUTH AFRICA: EFF's Number Two Defects To MK Party, Joburg Council Elects Mayor

SOUTH AFRICA
  • Floyd Shivambu left his post as deputy leader of the Economic Freedom Fighters (EFF) to join ex-President Jacob Zuma's uMkhonto weSizwe (MK) Party. EFF leader Julius Malema accepted his resignation and said that the door will be open for Shivambu to return, even as it would be against party constitution. Malema noted that the vacant post of the deputy leader of the party will be filled during the national conference in December. According to TimesLIVE, Shivambu has been offered to become Zuma's second in command in the MK Party. Separately, News24 wrote that Shivambu's move could be "part of a bigger plan by the so-called progressive caucus to consolidate power ahead of the 2026 and 2029 elections."
  • The Johannesburg City Council is set to elect a new mayor after the resignation of Al Jama-ah's Kabelo Gwamanda earlier this week. The African National Congress (ANC) said that the city will be governed by a broad coalition, with current Finance MMC Dada Morero expected to become Gwamanda's successor.
  • SARB Governor Lesetja Kganyago pointed to the limitations of monetary policy, noting that it is not a solution to South Africa's inequality. He added that "changing interest rates is certainly easier than improving education, managing urbanisation or ending loadshedding."
  • The National Treasury holds an auction for inflation-linked bonds.
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