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South Africa Passes 200 Days Of Power Outages

SOUTH AFRICA
  • South Africa has now passed 200 days of power outages this year, while outgoing Eskom CEO De Ruyter warned that there is more to come. The power utility announced that it would alternate between Stage 3 (4pm-5am) and Stage 2 (5am-4pm) load-shedding through the end of the week. According to the SARB, increased power rationing may shave 0.6pp off South Africa's GDP growth in the coming year.
  • President Cyril Ramaphosa has petitioned the Johannesburg High Court to issue an interdict against former President Jacob Zuma's private prosecution of him. Zuma announced that he would prosecute Ramaphosa just ahead of the ANC's recent elective conference, which saw Ramaphosa emerge from the Phala Phala scandal with a renewed mandate.
  • There will be no South African data releases until Friday, when money supply, private sector credit, trade balance and budget balance are due.

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