Good morning. Parliament voted against proceeding with the impeachment process against President Cyril Ramaphosa, paving the way for his re-election at the ANC elective conference. US scientists reported a huge breakthrough in nuclear fusion energy, which could lead to unlimited supplies of clean renewable energy.
Rand and financial markets receive a boost following Ramaphosa vote
The rand moved 2% stronger against the dollar after ANC MPs voted against adopting the Section 89 report recommending Ramaphosa face an impeachment inquiry. The yield on the 10-year government bond also fell 16 basis points to 10.92%. New York-based Wells Fargo economist Brendan McKenna said keeping Ramaphosa in his job is good for South African financial markets and keeps the president’s reform agenda on the table. Read more here. (BusinessTech)
A handful of ANC MPs vote against Ramaphosa
Four ANC MPs broke ranks with the party line and voted in favour of the impeachment proceedings going ahead against Ramaphosa. The president’s former opponent for the top job in the party, Nkosazana Dlamini-Zuma, stunned the party after she became the first ANC MP to vote in favour of proceeding with impeachment. Dlamini-Zuma said she was thinking of her responsibility to the public when she voted ‘Yes’ and remained a disciplined member of the governing party while Ramaphosa’s current opponent for the ANC presidency, Lindiwe Sisulu, walked out of the proceedings. Read more here. (Daily Maverick)
A major breakthrough in nuclear fusion energy
On Tuesday, researchers said they had overcome a major barrier in nuclear fusion energy after they produced more energy from a fusion experiment than was put in initially. Physicists have pursued fusion nuclear energy for decades as the power source promises to be able to provide near-limitless clean energy. While Tuesday’s breakthrough is a significant step forward for fusion research, it will be a while yet before nuclear fusion is providing electricity to power homes. Read more here. (BBC News)
Here’s what else you need to know today:
ANC NEC to decide on fate of members who voted against party line in Phala Phala debate – Lamola – Daily Maverick
Thousands hit by floods across SA, more weekend downpours predicted – Daily Maverick
Tembisa Hospital: SIU probe identifies over R1bn in payments to ‘syndicates’ – News24
The last 2 weeks of load shedding ‘a walk in the park’ compared to what’s coming: analyst – BusinessTech
Aviation experts, pilots raise concerns after SA air traffic control communication breakdown – News24
ACSA ramps up operational plans at airports in anticipation of peak-travel – SABC News
What to expect for food prices in 2023 – BusinessTech
Moderna just used a personalised vaccine to treat cancer, and it could signal a major breakthrough – Business Insider
Apple ‘preparing to allow alternative app stores’ on iPhones, iPads – Times LIVE/Reuters
Bankman-Fried’s arrest in Bahamas sets up US extradition fight – Daily Maverick
