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Transnet Strikes Begin, Could Hamper Goods Trade

SOUTH AFRICA
  • The Transnet strike begins today, with IOL writing on the grim spectre of the possibility of lengthy industrial action. There remains a 9% gap between Transnet and unions Untu and Satawu that is likely to halt the rail network and cause bottlenecks across ports to freight rail networks. Fears are rising that a protracted strike at Transnet will particularly impact agricultural imports and exports, the motor vehicle sector and mining.
  • With load-shedding extended into the weekend, Eskom are reportedly seeking 1,000MW in surplus electricity, with the utility already having reached out to both Zambia and Mozambique for surplus supplies, according to EWN.
  • Today, government looks for cabinet approval to sign off on plans for a $8.5bln transition away from coal-generated electricity – a step that should unlock environmental funding from funding partners including the US, EU and UK.
  • No key data crosses Thursday, with just electricity consumption/production stats on the docket.
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  • The Transnet strike begins today, with IOL writing on the grim spectre of the possibility of lengthy industrial action. There remains a 9% gap between Transnet and unions Untu and Satawu that is likely to halt the rail network and cause bottlenecks across ports to freight rail networks. Fears are rising that a protracted strike at Transnet will particularly impact agricultural imports and exports, the motor vehicle sector and mining.
  • With load-shedding extended into the weekend, Eskom are reportedly seeking 1,000MW in surplus electricity, with the utility already having reached out to both Zambia and Mozambique for surplus supplies, according to EWN.
  • Today, government looks for cabinet approval to sign off on plans for a $8.5bln transition away from coal-generated electricity – a step that should unlock environmental funding from funding partners including the US, EU and UK.
  • No key data crosses Thursday, with just electricity consumption/production stats on the docket.