South Africa is close to concluding discussions on forming a government of national unity, the African National Congress said. The rand jumped.
The rand strengthened as much as 1.7% and traded 1.5% stronger at R18.20 per dollar by 11:19 a.m. in Johannesburg. A close at that level would mark the currency’s biggest gain this month, according to data compiled by Bloomberg.The ANC and the DA emerged as the two largest parties in last month’s elections and have been in discussions for the past week on forming a new cabinet.
Good morning South Africa almost done with GNU discussions,In the best interest of all south africans . It will be done as promised. DA spokesman Richard Newton said his party’s negotiating team is meeting Ramaphosa today and that it remains intent on reaching a deal, with talks expected to conclude soon. ADVERTISEMENT: CONTINUE READING BELOW “The discussions are ongoing,” he said by phone. “We want this to work for the sake of the country as well as the sake of the party.