insert_link South Africa South African organisation OUTA has questioned some cabinet appointments The South African organisation OUTA has questioned some cabinet appointments, seeking greater transparency from new ministers. CEO Wayne Duvenage hopes for closer consultation with civil society and better service delivery. Duvenage has criticised the increased cabinet size and the retention of underperforming ministers stating the bloated cabinet will be a massive cost to society. He has also emphasised the need to address wasteful expenditure, maladministration, and corruption: todayJuly 2, 2024 5
insert_link South Africa Ramaphosa’s New Cabinet Announcement Sparks Rally in South African Markets In S.A, President Cyril Ramaphosa's new cabinet announcement has sparked a significant rally in South African shares and bonds, easing investor concerns. Key positions were given to business-friendly opposition politicians, with Enoch Godongwana retained as Finance minister. This move signals a continued commitment to prudent fiscal policy. Economist Dawie Roodt says bond yields fell, and the Johannesburg Stock Exchange's all-share index rose: todayJuly 2, 2024 3
insert_link South Africa South Africa’s New Unity Government Sparks Cautious Optimism Amid Economic Concerns South Africa's new unity government, formed by President Cyril Ramaphosa with former opposition leader John Steenhuisen heading a key ministry, has garnered cautious optimism from industry and financial markets. Reuters reports that many citizens and political analysts express concerns about the coalition's ability to achieve economic growth and social reforms, marking the first coalition cabinet in three decades involving the Democratic Alliance and other parties. todayJuly 2, 2024 4
insert_link Business / Economics 1st July 2024 Morning Biz News: OK Foods Cuts Costs, Rand Rallies, Oil Prices Rise, and Euro Gains Amid Political Shifts OK Foods Leads with Significant Basket Cost Reduction OK Foods has demonstrated remarkable cost management, recording the largest year-on-year decrease in basket cost among the seven stores surveyed by The Brief. The basket cost, which was close to N$1100 in June last year, has dropped by 11.65% to N$984.11 this past June. This reduction highlights OK Foods' commitment to providing value to its customers amidst challenging economic conditions. South African […] todayJuly 1, 2024 13
insert_link South Africa DA gives S.A president an ultimatum on original cabinet offer or risk collapsing their agreement In a fast developing story from S.A, the DA has given President Cyril Ramaphosa an ultimatum to adhere to the original cabinet offer or risk collapsing their agreement. News24 reports that Ramaphosa changed his initial offer, swapping the key portfolio of Trade, Industry, and Competition with Tourism, sparking outrage from the DA. The party insists on the original terms, stating they will not compromise or renegotiate further. todayJune 28, 2024 6
insert_link South Africa Al Jama-ah Joins South Africa’s Government of National Unity to Counter DA Influence To South Africa where Al Jama-ah has entered the government of national unity in South Africa, aiming to weaken the DA and its allies. The party rejects a DA-led coalition, citing support for Zionist policies and minority rule. It alleges external interference favored the DA in elections. Party leader Ganief Hendricks advocates for a progressive coalition to counter the DA's influence. todayJune 25, 2024 6
insert_link South Africa South Africa Forms Government of National Unity After Historic Election Nearly a month after the African National Congress lost its parliamentary majority in the most competitive election since the end of apartheid, 10 South African political parties have agreed to form a government of national unity as reported by Reuters. This collaboration, involving parties across the political spectrum, marks the first time in the democratic era that the ANC will share power. todayJune 25, 2024 6
insert_link South Africa S.A’s Ramaphosa Pledges to Improve Living Conditions in Second Term On Wednesday, a weakened South African President Cyril Ramaphosa vowed that his new multi-party government would enhance basic living conditions for all citizens as he was sworn in for a second term. Ramaphosa's African National Congress will share power with five other parties after losing its parliamentary majority for the first time in 30 years in the May 29 election. todayJune 20, 2024 5
insert_link South Africa JPMorgan Upgrades South African Assets Amid Unity Government Optimism JPMorgan, the world's largest bank by market value, has upgraded South African assets, shifting from underweight to overweight in its Central Europe, Middle East, and Africa asset allocation. The upgrade signals optimism following the formation of a government of national unity. However, risks persist as cabinet positions remain unfilled and the effectiveness of the GNU structure is unproven. todayJune 19, 2024 19
Paying it forward: Kenyan coastal doctor Bashrahil Mohammed Mafudh has made it his life’s work to care for the most vulnerable in his community, at no cost.
