Morning Brief: Ramaphosa to shuffle his cabinet in the coming months, Macron delt a major election blow

President Cyril Ramaphosa is likely to shuffle his cabinet in October to root out those ministers implicated in State Capture, French President Emmanuel Macron loses his parliamentary majority in the French legislative elections, and cryptocurrencies’ slide may not be over warned analysts.

Implicated ministers in crosshairs as Ramaphosa tipped for October reshuffle – Business Day

Ramaphosa is expected to shuffle his cabinet in October just a few months before the ANC is due to vote for party leaders at its elective conference in December. Party insiders, two of whom serve on the national executive committee of the ANC, told Business Day the president would likely announce a cabinet reshuffle to remove those ministers implicated in the State Capture reports.

But removing key ministers from positions of power could have consequences for Ramaphosa, who will seek re-election to a second term as party president in December. So far, the most high-profile minister to be implicated in the reports is energy minister Gwede Mantashe. He is alleged to have benefited financially from the now-defunct security firm Bosasa. Read more here.

Macron’s historic ballot setback risks undermining reform agenda – Daily Maverick

French President Emmanuel Macron is set to lose control of the National Assembly where his party has enjoyed an outright majority since he was first elected president in 2017. Macron’s party failed to reach the 289-seat threshold required for a majority but did come out as the largest grouping, claiming 245 seats.

The French president will have to reach some compromise and agreement with smaller parties to enact his agenda, which has been placed in serious doubt following the failure to secure an outright majority. Macron had hoped to increase the retirement age and deliver tax reforms. Read more here.

Crypto’s collapse may not be done yet, analysts warn – Tech Central

The world’s largest cryptocurrency, Bitcoin, snapped a 12-day losing streak on Sunday along with other cryptocurrencies but analysts say the relief will be temporary.

“For those who like to buy low and sell high, I think most can agree that it’s the former now,” said Mati Greenspan, founder of Quantum Economics. The crypto market is known for its rapid and wild swings, especially over weekends, with the past two days providing the latest example. Read more here.