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South Africa is launching a credit-guarantee facility called the Credit Guarantee Vehicle (CGV) to attract private sector financing for infrastructure projects. The CGV aims to manage risk and reduce the need for public spending. The government plans to upgrade the nation's ports, railways, and roads to stimulate economic growth, and the CGV will provide credit enhancement in the form of guarantees or insurance products to cover risks that the private sector is not willing to take. The program will be piloted by Eskom Holdings SOC Ltd. and is being developed in collaboration with the International Finance Corp. The government acknowledges the need for trade-offs and prioritizes protecting front-line services. [Extracted from the article]

Bajabulile Swazi Tshabalala, a former senior staffer at the African Development Bank (AfDB), has been endorsed by South Africa's National Treasury to become the next head of the pan-African lender. Tshabalala would be the first woman to lead the AfDB if appointed. She has three decades of experience in finance and holds a BA in economics from Lawrence University and an MBA from Wake Forest University. Other candidates for the position include Samuel Maimbo, a vice president at the World Bank, and Amadou Hott, a special envoy to the current AfDB president. The election for the next president will take place on May 29, 2025. [Extracted from the article]

Bajabulile Swazi Tshabalala, a former senior staffer at the African Development Bank (AfDB), has been endorsed by South Africa's National Treasury to become the next CEO of the pan-African lender. Tshabalala, who recently stepped down from her role as senior vice president of the AfDB, has received support from the South African cabinet for her candidacy. Finance Minister Enoch Godongwana praised Tshabalala's candidacy as representing continuity and an opportunity for a capable female leader to take on a key African leadership position. Other candidates being considered for the position include Samuel Maimbo and Amadou Hott. [Extracted from the article]

South Africa's infrastructure development agency is restructuring its planned projects to attract private sector investment, as officials seek to court UK investors. The country's government aims to secure funding for energy, water, and freight-rail projects, and has amended regulations to make it easier for businesses to invest in public-private partnerships. South Africa's infrastructure investment plans over the next three years amount to 943 billion rand ($54 billion), and the government is looking to leverage private sector financing to achieve its goals. The reforms aim to remove red tape and make it easier for private investors to participate in infrastructure projects. [Extracted from the article]

South Africa's finance minister will prioritize investment in infrastructure in the upcoming budget update, which will be the first under the new coalition government. The establishment of the business-friendly administration has led to a stronger currency and more favorable international conditions, easing pressure on the country's finances. The focus on infrastructure is seen as crucial for economic growth. However, reforms are still needed to maintain positive sentiment and encourage consumer spending and business investment. [Extracted from the article]

South Africa's finance minister will prioritize investment in infrastructure in the upcoming budget update, which will be the first under the new coalition government. The establishment of the business-friendly administration has led to a stronger currency and more favorable international conditions, easing pressure on the country's finances. The focus on infrastructure is seen as crucial for economic growth. However, reforms are still needed to maintain positive sentiment and encourage consumer spending and business investment. [Extracted from the article]

The mayor of South Africa's capital, Cilliers Brink, was removed from office after a motion of no confidence was backed by the African National Congress, the Economic Freedom Fighters, and ActionSA. The municipality, which includes the capital Pretoria, has faced challenges with the provision of basic services and a cholera outbreak. The Democratic Alliance, which Brink is a member of, has acknowledged their shortcomings in governing Tshwane. The ANC and DA are part of a national coalition but have not been able to find common ground in the Gauteng province. The next municipal vote in South Africa will be held in 2026. [Extracted from the article]

After 100 days since Cyril Ramaphosa returned to power in South Africa, his African National Congress formed a governing alliance with opposition parties. This coalition has been credited with improving market sentiment, but it is Ramaphosa's earlier reforms that are driving the current optimism. The government faces challenges in delivering on infrastructure and policy issues, but the cabinet's centrist composition has raised expectations for reforms. The market rally is largely sentiment-driven, and investors are cautiously optimistic but wary of the coalition's fragility. The government's ability to attract long-term investment in sectors like transport and logistics will be crucial for sustainable economic growth. [Extracted from the article]

South Africa's new government, known as the Government of National Unity (GNU), has reached its 100th day in power. The coalition government has been credited with improving market sentiment, but it is President Cyril Ramaphosa's previous reforms that are driving the current optimism. Investors have welcomed the new political stability in Africa's largest economy. However, the government still faces challenges in addressing long-standing infrastructure and policy issues. The cabinet's centrist composition has raised expectations for reforms, leading to positive market performance. The government's ability to attract long-term investment in sectors like transport, water, and logistics will be crucial for sustainable economic growth. [Extracted from the article]

South Africa's central bank has cut interest rates for the first time in four years, reducing the benchmark rate by 25 basis points to 8%. This decision aligns with a more positive outlook for inflation. The move follows a rate reduction by the Federal Reserve and is expected to contribute to easing global financial conditions. The central bank sees inflation averaging 4.6% this year, 4% next year, and 4.4% in 2026. The decision was made after careful consideration and analysis of data by the monetary policy committee. [Extracted from the article]

South Africa's central bank has cut interest rates for the first time in four years, reducing the benchmark rate by 25 basis points to 8%. This decision aligns with a more positive outlook for inflation. The move follows a rate reduction by the Federal Reserve and is expected to contribute to easing global financial conditions. The South African Reserve Bank also lowered its inflation forecasts for this year, next year, and 2026. The bank's decision was influenced by lower-than-expected inflation in August and aims to support economic growth in the country. [Extracted from the article]

The South African National Treasury is developing measures to encourage private investment in infrastructure projects, in an effort to avoid the need to compel pension funds to finance these developments. Proposed amendments to pension-fund legislation aim to attract private-sector financing. The African National Congress, which previously pledged to make it mandatory for the financial sector to provide funds for industrialization and economic development, lost its majority in the elections and it remains uncertain if the new administration will implement this policy. The Financial Sector Conduct Authority has warned that dictating pension funds' investments would infringe on their fiduciary duties. Deputy Finance Minister David Masondo argues that a prescriptive investment policy would negatively impact capital markets, potentially leading to inefficient management of state companies and reduced foreign investments. [Extracted from the article]

South African Deputy President Paul Mashatile received medical attention after feeling faint during a speech in Tzaneen. His spokesman confirmed that Mashatile is now well. The incident occurred on a day when temperatures in Tzaneen reached as high as 37 degrees Celsius. [Extracted from the article]

Elon Musk's Starlink is in talks with the South African government to bring its satellite service to the country, according to President Cyril Ramaphosa. Musk, who was born in South Africa, is the world's richest person and has been urged by Ramaphosa to invest in his home country. Starlink, which provides high-speed internet through a network of satellites, recently expanded to Zimbabwe and has 2.6 million customers globally. However, it faces regulatory and ownership requirements in some countries, including Taiwan and South Africa. [Extracted from the article]

South African President Cyril Ramaphosa has expressed confidence that the country's 10-party unity government will endure despite its differences. Ramaphosa believes that the collapse of the government would be detrimental to investor confidence and hinder efforts to grow the economy. The establishment of the new administration has had positive effects, including boosting the rand and share market, as well as delivering strong returns on foreign-currency and local-currency bonds. However, the ruling alliance may face challenges as the Democratic Alliance has objected to certain government plans. Ramaphosa is open to negotiations on these issues and hopes to find solutions for any problems that arise. [Extracted from the article]

Elon Musk's Starlink is in talks with the South African government to bring its satellite service to the country, according to President Cyril Ramaphosa. Musk, who was born in South Africa, is the world's richest person and has been urged by Ramaphosa to invest in his home country. Starlink, which provides high-speed internet through a network of satellites, recently expanded to Zimbabwe and has 2.6 million customers globally. However, it faces regulatory and ownership requirements in some countries, including Taiwan and South Africa. [Extracted from the article]

South African President Cyril Ramaphosa has signed a controversial education bill into law, although the implementation of certain parts of the bill has been delayed to allow for further consultation. The bill has faced opposition from parties within the coalition government, including the Democratic Alliance, who argue that it gives the education department too much power over language policy and admission criteria. Ramaphosa has acknowledged the concerns and stated that he will delay the implementation of certain clauses to seek a compromise. The signing of the bill has raised questions about the stability of the government of national unity and its impact on political uncertainty and investor confidence. [Extracted from the article]

The leader of South Africa's Democratic Alliance (DA) party, John Steenhuisen, downplayed the possibility of the party leaving the ruling alliance if President Cyril Ramaphosa approves a controversial new education law. Steenhuisen stated that the DA will not exit the government unless it is detrimental to the economy or violates the constitution. The DA, which holds 22% of the vote, wants its priorities implemented but is open to compromise. The unraveling of the ruling alliance could create political uncertainty and concern investors. The DA may resort to court action if a compromise on the education bill cannot be reached. [Extracted from the article]

South Africa's second-largest political party, the Democratic Alliance (DA), has expressed concern over President Cyril Ramaphosa's plan to approve changes to education legislation. The DA argues that the Basic Education Laws Amendment Bill, which Ramaphosa is set to sign into law, violates the terms of the coalition government. The party is calling for the bill to be sent back to parliament for amendments to align it with the constitution. This disagreement marks the first sign of tension within the coalition government, which was formed after the African National Congress lost its parliamentary majority in May's elections. [Extracted from the article]

South Africa's Democratic Alliance (DA) has warned that President Cyril Ramaphosa's plan to approve changes to education legislation could threaten the nation's coalition government. Ramaphosa is set to sign the Basic Education Laws Amendment Bill into law, despite the DA's objections. The DA argues that the bill has constitutional implications for the right to mother-tongue education and other issues, and urges Ramaphosa to send it back to parliament for amendments. This disagreement marks the first sign of tension within the coalition government, which was formed after the African National Congress lost its parliamentary majority in May's elections. Labor union Solidarity also opposes the bill, expressing concerns about its impact on language policies and the teaching of Afrikaans in government schools. [Extracted from the article]

South Africa is planning to file a case with the International Court of Justice, accusing Israel of committing genocide against Palestinians. The South African Presidency stated that they will provide "facts and evidence" to support their claim. This comes after Israel ignored a directive from the ICJ to prevent harm to Palestinian civilians. The legal action is part of a global effort for peace in the Middle East, with countries like Turkey, Spain, Mexico, and Colombia joining the lawsuit. Israel is reportedly lobbying the US Congress to persuade South Africa to drop the case. [Extracted from the article]

Johannesburg's new mayor, Dada Morero, acknowledges the broken state of South Africa's commercial capital and is determined to fix it. He emphasizes the importance of leadership and "appetite" in addressing the city's issues, such as malfunctioning traffic lights, potholed streets, crime, and a lack of housing. The city also faces challenges with water and electricity supply, with significant amounts wasted or stolen. Morero plans to borrow money to carry out essential maintenance and prioritize tackling crime. The private sector is looking for assurance that the city will address criminality before making new investments. Although the ANC lost its national majority in the recent elections, its position in Johannesburg promises more stability. Morero will govern in a coalition that includes the EFF and ActionSA, among others. The administration aims to be a government of local unity. [Extracted from the article]

The City of Johannesburg is considering raising 2 billion rand ($112 million) in new debt to address its infrastructure backlog, particularly in water and electricity. The city is in talks with local and international financial institutions, including Standard Bank Group Ltd., the World Bank, and Agence Française de Développement, to explore funding options. Johannesburg has a history of successful bond offerings, and Moody's Ratings has assessed its credit rating as Ba3 with a stable outlook. The city needs 221 billion rand to catch up on maintenance and overdue infrastructure upgrades, and is also considering other ways of raising money, such as creating an infrastructure fund and leveraging public-private partnerships. [Extracted from the article]

South Africa's Economic Freedom Fighters (EFF) party is facing internal turmoil as it deals with a loss of electoral support and the resignation of its deputy leader. Party leader Julius Malema criticized his former deputy, Floyd Shivambu, and other unidentified officials in a speech to party members. Malema announced that letters will be sent to those belonging to a structure constituted by Shivambu, asking them to justify their positions due to the party's failure to increase its share of the vote. The EFF, which advocates for nationalization, saw a decline in support in the May elections and lost parliamentary seats. Malema also alluded to allegations of criminal activity by high-ranking EFF officials, including Shivambu's brother, Brian, who was implicated in a bank collapse investigation. [Extracted from the article]

The African National Congress (ANC) has regained control of the mayorship of Johannesburg, South Africa's largest city, for the 10th time since 2016. Dada Morero, who previously served as mayor for 25 days in 2022, was reelected to the position. Johannesburg has experienced political instability since the 2016 municipal election, leading to a decline in council services such as electricity and water supply. The appointment of Morero could have implications for other urban centers where the ANC has formed power-sharing agreements with smaller parties. The ANC recently lost its parliamentary majority and formed a national coalition with the Democratic Alliance and other smaller parties. However, a power-sharing deal at the municipal level in Gauteng province, which includes Johannesburg, was not reached, resulting in prolonged instability. [Extracted from the article]

Floyd Shivambu, the deputy leader of South Africa's Economic Freedom Fighters (EFF), has resigned from the party and joined former President Jacob Zuma's uMkhonto weSizwe Party. This move is seen as a setback for the EFF, which has caused concern in financial markets with its proposals to nationalize banks and mines and expropriate land. Shivambu's departure comes ahead of the EFF's upcoming conference, where he was expected to face a challenge for his position. It is worth noting that Shivambu's brother has been implicated in a corruption investigation involving VBS Mutual Bank, but both the Shivambus and the EFF deny any wrongdoing. [Extracted from the article]

South Africa's new coalition government has indicated that its foreign policy will prioritize the nation's economic interests, potentially improving relations with Western countries that are major trading partners. The African National Congress, which previously aligned with China and Russia, strained ties with the US and EU by refusing to condemn Russia's invasion of Ukraine and laying genocide charges against Israel. However, with the ANC losing its majority in recent elections and forming a government of national unity, the focus is now on growing the economy through foreign direct investment and domestic market industrialization. While South Africa aims to improve relations with the US, it will continue to pressure Israel to end its war in Gaza. [Extracted from the article]

The Democratic Alliance (DA), South Africa's main opposition party, believes it can defeat the African National Congress (ANC) in the upcoming election. The DA has outlined a plan to address power cuts and revive the struggling economy within five years. The party aims to create 2 million jobs by 2029, expand the social safety net, and implement a fiscal rule to stabilize debt. The ANC, which has governed since the end of White-minority rule, is facing backlash for its failure to address power cuts, poverty, and unemployment. The DA is forming a coalition with other opposition parties to increase its chances of political change. The party's manifesto includes proposals to scrap race-based economic redress, invest in electricity transmission, achieve net-zero carbon emissions, reduce violent crime, lift people out of poverty, and ensure quality healthcare for all. [Extracted from the article]

Former South African leader Jacob Zuma has been expelled from the African National Congress (ANC) for starting a rival political group that caused the party to lose its parliamentary majority for the first time in 30 years. The ANC's disciplinary committee found that Zuma's actions undermined the party's integrity by collaborating with a rival party. Zuma, who led South Africa for almost nine years, was forced to step down in 2018 due to a loss of electoral support and has faced allegations of corruption. He founded the uMkhonto weSizwe Party, which won 14.6% support in the recent elections. Zuma can appeal the ANC's decision within 21 days. [Extracted from the article]

Former South African leader Jacob Zuma has been expelled from the African National Congress (ANC) for starting a rival political group, which resulted in the ANC losing its parliamentary majority for the first time in 30 years. The ANC's disciplinary committee found that Zuma's actions compromised the party's integrity. Zuma, who led South Africa for almost nine years, was forced to step down in 2018 due to a loss of electoral support and allegations of corruption. He founded the uMkhonto weSizwe Party, which gained 14.6% support in recent elections. Zuma has the option to appeal his expulsion within 21 days. [Extracted from the article]

The risk premium on South Africa's bonds is considered too high by a fund manager at Fidelity International Ltd. This comes after President Cyril Ramaphosa outlined a five-year plan to strengthen economic growth. The fund manager believes that there is still room for South African government bonds to rally further, as they expect growth to improve, fiscal metrics to strengthen, and inflation to decrease. Yields on these bonds have already dropped since the African National Congress lost its parliamentary majority, prompting the formation of a multi-party coalition. JPMorgan Chase & Co. also recommended buying the South African rand. The finance minister stated that the government will now work on implementing the details of Ramaphosa's strategy, which includes changing certain controversial policies. [Extracted from the article]

South African President Cyril Ramaphosa has outlined his plans for economic growth and infrastructure development in a major policy speech. Ramaphosa aims to address structural reform, improve poorly-run municipalities, reduce red tape, and increase investment in infrastructure. The country's economy has been hindered by an energy crisis and a decline in infrastructure under former President Jacob Zuma. Ramaphosa's speech is expected to be well-received by investors, with a focus on market-friendly policies and job creation. The government also plans to address racially skewed land ownership patterns and review prices to combat rising living costs. [Extracted from the article]

South Africa's central bank has decided to keep interest rates unchanged at 8.25%, the highest level in 15 years, in a split decision. Two of the six policymakers favored a rate cut, signaling a potential shift towards easing in September. While this decision aligns with the median estimate of economists, it is the first time this year that economists have disagreed on the central bank's decision. The next policy decision will be announced on September 19, following the expected easing campaign by the Federal Reserve. [Extracted from the article]

The South African central bank has decided to keep interest rates unchanged at 8.25%, citing concerns about inflation. This decision was in line with the expectations of most economists, but it was the first time this year that there was disagreement among economists about the central bank's decision. The central bank has been committed to controlling inflation and will not loosen policy until consumer prices return to the target range of 4.5%. The rand strengthened slightly after the announcement, and there are expectations of a rate cut in September. [Extracted from the article]

The South African central bank has decided to maintain its benchmark interest rate at 8.25%, the highest level in 15 years, due to concerns about inflation. This decision was in line with the expectations of most economists, although some had anticipated a rate cut. The central bank is committed to reducing inflation and will only consider loosening policy once consumer prices return to the target range of 4.5%. Inflation in May remained steady at 5.2%. [Extracted from the article]

South Africa's main opposition parties, including former President Jacob Zuma's uMkhonto weSizwe Party and the Economic Freedom Fighters, are planning to revive a bid to amend the constitution to allow for land expropriation without compensation. The parties, which have labeled themselves as a progressive caucus, hold 102 of the 400 seats in parliament and would need the support of rivals to secure the two-thirds majority required for constitutional amendments. The African National Congress (ANC), the country's largest political party, formed a coalition government with centrist parties after losing its parliamentary majority in the May elections. The ANC and EFF previously failed to agree on the modalities of land expropriation legislation in the last parliament. The caucus also plans to revisit a bid to impeach President Cyril Ramaphosa over a scandal involving stolen money found in a couch at his game farm. [Extracted from the article]

South African President Cyril Ramaphosa has outlined his administration's plans to prioritize economic growth through structural reform, addressing poorly-run municipalities, reducing bureaucracy, and investing in infrastructure. Other key focuses include tackling high living costs, job shortages, and racially skewed land-ownership patterns. Ramaphosa's new cabinet, which includes members from a coalition of parties, has reached a consensus on the budget framework set out by the previous administration. The president's speech coincided with the anniversary of former President Nelson Mandela's birth. [Extracted from the article]

Former South African President Jacob Zuma is facing a hearing by the African National Congress (ANC) to determine whether his party membership should be terminated. Zuma campaigned for the rival uMkhonto weSizwe Party in the recent election, securing almost 15% of the vote and contributing to the ANC's loss of its parliamentary majority for the first time in 30 years. The ANC's disciplinary committee is currently reviewing the case and will announce a verdict once all representations have been considered. Zuma, who served as president from 2009 to 2018, was disqualified from running as a candidate due to a conviction of contempt of court. ANC expulsion is rare but has happened before, as seen with former youth league president Julius Malema. Zuma is expected to return to parliament as a special guest on Thursday. [Extracted from the article]

Economists are divided over whether South Africa's central bank will maintain its high interest rates or lower them. Some argue that the formation of a market-friendly coalition government and other factors have reduced political risk and created room for the bank to ease policy. Goldman Sachs and Deutsche Bank predict a 25-basis point cut, while others expect the bank to hold rates steady. President Cyril Ramaphosa is likely hoping for a more dovish stance from the central bank as he seeks to address high youth unemployment and stimulate economic growth. [Extracted from the article]

South Africa's new coalition cabinet has largely accepted the government's existing fiscal framework, according to Finance Minister Enoch Godongwana. While there may be some disagreements when it comes to budget allocations, the overall acceptance of the fiscal strategy is seen as a positive development. The government plans to prioritize rapid economic growth to address poverty and inequality, but the implementation of a proposed universal credit program is currently not feasible due to funding constraints. President Cyril Ramaphosa has expressed satisfaction with the cabinet's unanimous agreement on policy issues discussed during the meeting. [Extracted from the article]

South Africa's newly formed government plans to send a delegation to the upcoming AGOA Forum in Washington DC to lobby against a Senate review of ties between the two countries. The House of Representatives recently passed a law requiring a full assessment of bilateral relations, which could potentially impact South Africa's access to the African Growth and Opportunity Act (AGOA). South African business lobby groups have expressed concerns that the legislation could hinder trade with the US, which is crucial for the country's economic growth and addressing inequality. The review of ties was prompted by various factors, including South Africa's legal action against Israel and its pursuit of closer relations with China and Russia. [Extracted from the article]

South Africa's Finance Minister, Enoch Godongwana, presented the nation's fiscal parameters to the newly formed coalition government during their first closed-door meeting. The government, which includes 11 opposition parties, is working to address various crises such as poor state governance, power shortages, and logistics issues that have hindered economic growth. Key areas of focus for the government include expanding the social security net, determining the future of state-owned companies, funding for nuclear power, and implementing a national health insurance plan. President Cyril Ramaphosa expressed optimism about the government's progress and will outline policy priorities during the opening of parliament. [Extracted from the article]

South African President Cyril Ramaphosa has announced his new cabinet, which includes business-friendly opposition politicians and retains Enoch Godongwana as finance minister. This move signals Ramaphosa's intention to revive the country's weak economic growth. The African National Congress lost its parliamentary majority in May's elections and was forced to form a coalition government with other parties. The presence of opposition parties in the government may help address issues such as state inefficiency, power shortages, and high unemployment. Financial assets in South Africa have rallied in anticipation of this coalition government. [Extracted from the article]

South African President Cyril Ramaphosa has announced his new cabinet, which includes opposition politicians in an effort to form a government of national unity. The new administration will prioritize economic growth, poverty reduction, and addressing unemployment. The inclusion of business-friendly parties in the government is expected to boost economic reforms and has already led to a rise in the country's stock index. While Ramaphosa had initially planned to reduce the size of his executive, he had to accommodate both ANC leaders and new partners. [Extracted from the article]

South African President Cyril Ramaphosa has announced his new cabinet, which includes opposition politicians in an effort to form a government of national unity. The new administration faces challenges such as state inefficiency, power shortages, and high unemployment. The inclusion of business-friendly parties in the government is expected to boost economic reforms and stimulate growth. Ramaphosa has had to balance demands from his own party and its allies while accommodating the new participants in the government. [Extracted from the article]

South African President Cyril Ramaphosa is set to announce a new coalition cabinet on Sunday, following talks between his African National Congress (ANC) and the Democratic Alliance (DA), the two largest parties after the recent elections. This coalition government, which includes a diversity of political parties, is expected to accelerate economic reforms and revive the country's sluggish growth. Ramaphosa has offered the DA cabinet positions in several ministries and deputy ministerial posts in various portfolios. The announcement of the new government is eagerly awaited by investors. [Extracted from the article]

South African President Cyril Ramaphosa will announce a new coalition cabinet on Sunday, following the recent elections in which his party lost its parliamentary majority for the first time in 30 years. The cabinet will be formed through negotiations between Ramaphosa's African National Congress and the centrist Democratic Alliance, the two largest parties after the election. The new cabinet is expected to include a diverse range of political parties. [Extracted from the article]

South African President Cyril Ramaphosa has appointed a new cabinet that includes members of opposition parties. While the majority of ministerial posts were given to members of Ramaphosa's African National Congress, the Democratic Alliance and Inkatha Freedom Party also received positions. Key appointments include Paul Mashatile as Deputy President, Enoch Godongwana as Finance Minister, Ronald Lamola as Minister of International Relations, Gwede Mantashe as Minister of Mineral and Petroleum Resources, Kgosientsho Ramokgopa as Minister of Energy and Electricity, Khumbudzo Ntshavheni as Minister in the Presidency, John Steenhuisen as Minister of Agriculture, Parks Tau as Minister of Trade and Industry, Siviwe Gwarube as Minister of Basic Education, Solly Malatsi as Minister of Communications and Digital Technologies, Dean Macpherson as Minister of Public Works, Velenkosini Hlabisa as Minister of Cooperative Governance and Traditional Affairs, Leon Schreiber as Minister of Home Affairs, and Dion George as Minister of Forestry, Fisheries, and the Environment. [Extracted from the article]

South African President Cyril Ramaphosa has announced his new cabinet, which includes opposition politicians in an effort to form a government of national unity. The new administration faces challenges such as state inefficiency, power shortages, and high unemployment. The inclusion of business-friendly parties in the government is expected to boost economic reforms and growth. Ramaphosa had to balance demands from his own party and its allies while accommodating the new participants in the government. Key appointments include John Steenhuisen as minister of agriculture and Velenkosini Hlabisa as cooperative governance minister. [Extracted from the article]

Ten South African political parties have formed a ruling alliance to create a government of national unity. The coalition government, which excludes the Economic Freedom Fighters and former President Jacob Zuma's uMkhonto weSizwe party, will govern the country for the next five years. The African National Congress, the largest party in the coalition, stated that any further parties joining the government would require the agreement of the founding members. The composition of the executive is currently being discussed, with investors hopeful for economic reforms under a more centrist-leaning government. [Extracted from the article]