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SOUTH AFRICA: Mbalula & Zille Clash Over GNU, BER Flag Optimism On Growth

SOUTH AFRICA
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  • African National Congress (ANC) Secretary General Fikile Mbalula pushed back against comments from Democratic Alliance (DA) Federal Council Chair Helen Zille's comments about the current coalition arrangements after she claimed that the new government was a partnership between her party and the ANC rather than a genuine government of national unity (GNU). Zille argued that President Cyril Ramaphosa came up with the concept of "GNU" to persuade his party to accept the arrangement, while a genuine government of national unity would have to include the Economic Freedom Fighters (EFF) and the uMkhonto weSizwe (MK) Party. Mbalula accused Zille of trying to sow discord in the coalition government and said that her party was welcome to leave the GNU. As a reminder, the ANC's National Executive Committee is in the midst of a series of meetings to discuss the outcome of the recent election.
  • The Bureau for Economic Research said that South Africa's economy may grow by 2.2% in 2025 as the new government is looking to implement much needed reforms, while the nation's logistics crisis is expected to ease. The SARB sees 2025 GDP growth at +1.5% Y/Y, while the IMF pencilled in +1.2% Y/Y.
  • The National Treasury will sell 1.875% 2033, 5.125% 2043 and 5.125% 2058 linkers later today.
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  • African National Congress (ANC) Secretary General Fikile Mbalula pushed back against comments from Democratic Alliance (DA) Federal Council Chair Helen Zille's comments about the current coalition arrangements after she claimed that the new government was a partnership between her party and the ANC rather than a genuine government of national unity (GNU). Zille argued that President Cyril Ramaphosa came up with the concept of "GNU" to persuade his party to accept the arrangement, while a genuine government of national unity would have to include the Economic Freedom Fighters (EFF) and the uMkhonto weSizwe (MK) Party. Mbalula accused Zille of trying to sow discord in the coalition government and said that her party was welcome to leave the GNU. As a reminder, the ANC's National Executive Committee is in the midst of a series of meetings to discuss the outcome of the recent election.
  • The Bureau for Economic Research said that South Africa's economy may grow by 2.2% in 2025 as the new government is looking to implement much needed reforms, while the nation's logistics crisis is expected to ease. The SARB sees 2025 GDP growth at +1.5% Y/Y, while the IMF pencilled in +1.2% Y/Y.
  • The National Treasury will sell 1.875% 2033, 5.125% 2043 and 5.125% 2058 linkers later today.