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SOUTH AFRICA: US Flags Support For Early Extension Of AGOA

SOUTH AFRICA
  • Electricity and Energy Minister Kgosientsho Ramokgopa said that his department is working with the South African Local Government Association (SALGA) to revamp the electricity pricing structure and cut the tariffs imposed by municipalities. The official noted that elevated tariffs impose excessive costs on the poor, leaving them exposed to longer periods of load reduction (i.e. targeted blackouts in areas with higher energy usage).
  • US Deputy Assistant Secretary of State Joy Basu confirmed that the Biden administration has "indicated support" for an early extension of the African Growth and Opportunity Act (AGOA), which is due to expire in September 2025.
  • Governor Lesetja Kganyago will address the Annual Ordinary General Meeting of SARB shareholders at 09:00BST/10:00SAST.
  • The National Treasury will offer ZAR1.25bn of 7% 2031 bonds, ZAR1.25bn of 8.875% 2035 bonds and ZAR1.25bn of 11.625% 2053 bonds.
  • South Africa will release June budget balance at 13:00BST/14:00SAST, with consensus looking for a surplus of ZAR40.1bn.

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