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 […] today1 July, 2024
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. today28 June, 2024
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. today25 June, 2024
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. today25 June, 2024
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. today20 June, 2024
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. today19 June, 2024
insert_link South Africa S.A’s Al Jama-ah leader says the DA is hell-bent on taking control of the government of national unity In S.A, Al Jama-ah leader, Ganief Hendricks claims that the Democratic Alliance is determined to take control of the government of national unity. He criticizes the 'Statement of Intent' signed between the DA and another party, suggesting it facilitates power sharing between former oppressors and the former black liberation movement. Despite President Cyril Ramaphosa's assertion that there is no grand alliance with the DA, Hendricks believes the 'Statement of Intent' […] today18 June, 2024
insert_link South Africa Historic Political Shift in South Africa As ANC and DA Form Government of National Unity In a significant political development, South Africa's African National Congress and the Democratic Alliance have agreed to collaborate in a government of national unity, ending 30 years of sole ANC rule. This unprecedented alliance allowed President Cyril Ramaphosa to secure a second term in office, winning re-election with 283 votes from lawmakers. The agreement between these traditionally opposing parties marks the most consequential political change since Nelson Mandela's ANC […] today17 June, 2024
insert_link South Africa S.A’s Mkhonto we Sizwe Joins Alliance to Challenge ANC-DA Coalition Government South Africa's uMkhonto we Sizwe party announced on Sunday that it will join an alliance of smaller opposition parties in parliament to challenge the coalition government formed by the African National Congress and the Democratic Alliance. The ANC and the pro-business, white-led DA agreed on Friday to form a "government of national unity," marking a significant shift after 30 years of ANC rule. today17 June, 2024
