5 important things happening in South Africa today

Here’s what is happening in and affecting South Africa today:

• Ntshavheni tells eager new ministers to slow down with plans: Minister in the Presidency Khumbudzo Ntshavheni cautioned ministers against rushing to implement department policies or priorities without Cabinet consensus. She emphasised the need for a joint decision at the upcoming Cabinet lekgotla on 11 and 12 July 2024 before any departmental actions are taken. The directive comes amid unilateral policy announcements by some DA ministers. Ntshavheni also highlighted that the GNU’s priorities must align with the 2012 National Development Plan. [Daily Maverick]

• Numerous municipal managers suspended in the North West: In the past two months, several municipal managers in five North West municipalities – Kagisano Molopo, Naledi, Bojanala, Tswaing, and Mamusa – have been suspended or put on special leave. Additionally, Madibeng, Ditsobotla, and Lekwa Teemane lack permanent municipal managers. This issue is partly due to internal conflicts within the municipal councils and the inability of some municipal managers to perform as expected.[SABC]

• BoA sees SA GDP at 2% if Eskom maintains momentum: Bank of America predicts that South Africa’s economy might grow by around 2% in the medium term, provided Eskom continues to prevent power outages for the rest of the year. The bank’s research suggests that government finances are likely to see improvement, buoyed by a stronger GDP outlook tied to efforts against load-shedding. [BusinessDay]

• Numsa strike at Ford SA to continue: The strike at Ford SA, initiated by South Africa’s biggest trade union, the National Union of Metalworkers of South Africa (Numsa), is set to persist. The labour court has postponed its decision on Ford’s request to halt the strike, which started last Thursday. As a result, the strike will indefinitely continue, with the company saying that it is impacting production, affecting its suppliers, and causing disruption in the supply chain processes. [Business Day]

• Markets: The rand extended its gains against the dollar on Thursday after the U.S. currency slipped on rising expectations that U.S. interest rate cuts are on the way. On Friday (5 July), the rand was trading at R18.26 to the dollar, R23.36 to the pound, and R19.76 to the euro. Oil is trading at $87.16 a barrel. [Reuters]