Is Sputla the new electricity minister?
(News24/City Press) — During his State of the Nation Address, President Cyril Ramaphosa indicated that he was ready to appoint a minister of electricity with former City of Tshwane mayor, Kgosientso “Sputla” Ramokgopa, tipped for the position.
The naming of the new electricity minister is expected to coincide with a cabinet reshuffle, which the president has yet to announce. READ MORE.
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ECONOMIC WEEK AHEAD: Godongwana’s budget in the spotlight
(Business Day) — This week’s economic focus will be squarely on finance minister Enoch Godongwana’s budget, which he is due to table in Parliament on Wednesday.
Godongwana is expected to highlight better-than-expected fiscal performance over the past year. The minister is expected to showcase relatively good GDP growth for 2022 and a slightly improved budget deficit.
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Investigating Directorate’s financial report comes under defence scrutiny at first State Capture trial
(Daily Maverick) — The independence and impartiality of a 40-page financial report by the NPA’s Investigative Directorate highlighting the flow of money allegedly paid by the Free State Department of Agriculture and Rural Development to Nulane Investments, a company owned by former Transnet board member and Gupta associate Iqbal Sharma, has been scrutinised for weeks at the first State Capture trial.
What’s happening in the markets?
(Business Day) — After a roller-coaster week, the JSE was weaker on Friday, closing 1.2% lower at 79,271.78 points.
Overall, the local bourse is up 0.36% for the week despite a weaker performance from platinum group metals and gold miners. At 05.46, the rand was trading at R18.0614 against the US dollar having closed at a similar mark on Friday.
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