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SOUTH AFRICA: Trump Vows To Cut S. Africa Aid, Eskom Ends Loadshedding

SOUTH AFRICA
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  • President Cyril Ramaphosa will deliver the annual State of the Nation Address (SONA) on Thursday at 17:00GMT/19:00SAST. This will be Ramaphosa's first SONA since the formation of the Government of National Unity (GNU) in the aftermath of last year's general election, which returned a hung parliament. The speech will be an opportunity for the President to reflect on a wide range of policy issues and outline the key objectives for the year ahead. It comes on the heels of a flare-up in tensions between parties forming the coalition government and precedes the February 19 Budget Speech.
  • Eskom announced that "after a temporary setback that necessitated the implementation of loadshedding over the weekend, [it] has suspended loadshedding as of 06:00 [on Sunday] due to the recovery of sufficient emergency reserves." It further noted that the outlook for the summer remains unchanged and that it will be able to meet demand going forward. The utility had announced Stage 3 power cuts on Friday, ending a 10-month streak of uninterrupted electricity supply.
  • US President Donald Trump vowed to end all funding to South Africa over alleged land confiscations after President Ramaphosa signed the contentious Expropriation Act into law. BusinessDay notes that this puts $440mn in foreign aid from the US and South Africa's preferential access to US markets under threat.
  • The latest reading of Absa Manufacturing PMI will cross the wires at 09:00GMT/11:00SAST. Elsewhere, Naamsa vehicle sales will be out at some point today.
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  • President Cyril Ramaphosa will deliver the annual State of the Nation Address (SONA) on Thursday at 17:00GMT/19:00SAST. This will be Ramaphosa's first SONA since the formation of the Government of National Unity (GNU) in the aftermath of last year's general election, which returned a hung parliament. The speech will be an opportunity for the President to reflect on a wide range of policy issues and outline the key objectives for the year ahead. It comes on the heels of a flare-up in tensions between parties forming the coalition government and precedes the February 19 Budget Speech.
  • Eskom announced that "after a temporary setback that necessitated the implementation of loadshedding over the weekend, [it] has suspended loadshedding as of 06:00 [on Sunday] due to the recovery of sufficient emergency reserves." It further noted that the outlook for the summer remains unchanged and that it will be able to meet demand going forward. The utility had announced Stage 3 power cuts on Friday, ending a 10-month streak of uninterrupted electricity supply.
  • US President Donald Trump vowed to end all funding to South Africa over alleged land confiscations after President Ramaphosa signed the contentious Expropriation Act into law. BusinessDay notes that this puts $440mn in foreign aid from the US and South Africa's preferential access to US markets under threat.
  • The latest reading of Absa Manufacturing PMI will cross the wires at 09:00GMT/11:00SAST. Elsewhere, Naamsa vehicle sales will be out at some point today.