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Zondo Report Set to Dig Into Eskom Corruption; Govt Welcomes Moody's Outlook Upgrade

SOUTH AFRICA

LOCAL NEWS (1/2)

  • Judge Zondo will release the penultimate part of the Zondo report on state capture this week, which was due to be handed to the president last Thursday. Although details are limited, sources suggest the report will focus on corruption at Eskom – BusinessDay
  • Government welcomes Moody’s upgrade for SA’s outlook from negative to stable following its credit review in Friday. This decision surprised analysts. Moosy’s noted that the improved fiscal outlook was the key driver behind its decision due to the likely stabilisation of the debt burden over the medium-term. Fitch & S&P are expected to conduct review on 20 May - EWN
  • Ramaphosa warns of deep factional divisions in the ANC following the Mpumalanga provincial elective conference after a group backing his second term made a clean sweep of all provincial leadership positions.
    • Ramaphosa reiterated the importance of the step aside rule for any members accused of illegal wrongdoings and said the party must root out corruption ahead of the December elective conference. The Eastern Cape is next to hold its provincial conference – News24
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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