The Energy Council of South Africa has responded to various municipalities’ concerns about the new electricity law’s constitutionality, stating these issues can be resolved in the planning phase after the bill is signed. Municipalities worry that the Electricity Regulation Amendment Bill, awaiting President Cyril Ramaphosa’s signature, might restrict their electricity provision roles, potentially violating the constitutional powers of local governments.
[A Bank of America survey reveals that 74% of fund managers focused on South Africa predict a rally in domestic equities post the 29 May election, despite policy shift concerns. A majority, 79%, believe equities and bonds are undervalued, favouring domestic and non-resource rand hedges. With 68% seeing more buying opportunities, there’s optimism for significant equity returns within a year, particularly in the banking, software, mining, metals, and food production sectors.