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Transnet, Eskom to Hold Briefings; Anglo Rejects BHP Group’s Proposal

SOUTH AFRICA
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  • Transnet, South Africa’s state logistics firm, will host a briefing to give an update on its recovery plan later today. Eskom’s “State of the System and Winter Outlook Media Briefing” will take place this afternoon.
  • Anglo American said in a statement BHP Group’s proposal “significantly undervalues” the company and its future prospects, adding that the board unanimously rejected the proposal. Yesterday, South African Minister of Mineral Resources and Energy Gwede Mantashe expressed his hostility to BHP’s proposed takeover of Anglo American. Mantashe said that South Africa’s experience with BHP was “not positive,” although he added that he is not expressing an official government position on the matter but rather his own.
  • The National Council of Provinces unanimously adopted the Climate Change Bill yesterday, News24 report. The bill, which looks to ensure that the country’s response to the climate crisis is guided by law, now moves to President Cyril Ramaphosa’s desk for ascent.
  • There are no major economic releases on the docket today. Trade balance data for March provides the highlight on the local slate next week.
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  • Transnet, South Africa’s state logistics firm, will host a briefing to give an update on its recovery plan later today. Eskom’s “State of the System and Winter Outlook Media Briefing” will take place this afternoon.
  • Anglo American said in a statement BHP Group’s proposal “significantly undervalues” the company and its future prospects, adding that the board unanimously rejected the proposal. Yesterday, South African Minister of Mineral Resources and Energy Gwede Mantashe expressed his hostility to BHP’s proposed takeover of Anglo American. Mantashe said that South Africa’s experience with BHP was “not positive,” although he added that he is not expressing an official government position on the matter but rather his own.
  • The National Council of Provinces unanimously adopted the Climate Change Bill yesterday, News24 report. The bill, which looks to ensure that the country’s response to the climate crisis is guided by law, now moves to President Cyril Ramaphosa’s desk for ascent.
  • There are no major economic releases on the docket today. Trade balance data for March provides the highlight on the local slate next week.