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Transnet Delays Could Persist For as Long As a Month

SOUTH AFRICA
  • Force majeures that had been in place across a number of ports and key trade routes have been partially lifted by Transnet following the resolution of strike action this week. Nonetheless, backlogs are still evident across South Africa’s ports and rail terminals, with FourKites data showing container exports including metals and food goods were taking much longer to ship, and could delay trade for as much as three weeks.
  • IOL writes that rising interest rates across South Africa are prompting fewer people to buy homes, with average house prices stagnating as a result. The piece cites RE/MAX data as showing the number of properties sold YTD has decreased by around 4% on a Y/Y basis.
  • The Limpopo and KZN ANC parties have reportedly teamed up against Ramaphosa and the step-aside rule, saying the policy has been weaponised. The two provinces have intensified their campaign for the scrapping of the step-aside rule at the December elective conference. They argue that some party leaders had been “selectively targeted for charges, with court cases getting prolonged under the pretext of investigations”, according to IOL.
  • BusinessLive writes that ministers are considering unilaterally pushing through a contentious 3% wage hike for the public sector, as time is running out to have it on the books for the Medium Term Budget Policy Statement next week.
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