In our third article on the lead-up to this weekend’s ANC Elective Conference, our consulting analyst Dr Ivor Sarakinsky, in a piece entitled The Moment of Truth, highlights the deficiency of technocratic expertise in government and state-owned institutions to deliver pragmatically on any improved policies that may emerge from the event.
The article explores what compromises may need to occur in the leadership structure, as well as how Jacob Zuma has begun his exit from the ANC and national stage.
Our final piece in the series will follow once the outcomes from the Conference are announced.
Follow the link to the previous article in the series.
- The MSCI Emerging Market Index has fallen 4.8% since its recent high in November, and it is back at September levels. Year-to-date the total return of the Index is 30.6%.
- In Brexit negotiations, Britain has agreed to keep Northern Ireland in regulatory alignment with the EU, this having been a largely contested point in the negotiations. Northern Ireland’s (UK) border with the Republic of Ireland (EU) has been a massive obstacle in the way of UK Prime Minister May beginning free trade talks with Europe. If Northern Ireland then remains in alignment with the EU, it opens the question as to whether the rest of the UK will too.
- In Britain, Theresa May faced a setback when members of her own party voted against her government’s planned Brexit legislation. This means that lawmakers now have the chance to vote on and possibly defeat the final deal.
- In China, November’s trade surplus was better than expected. Exports rose from the October level of 6.0% to 10.3% and imports fell slightly from 15.9% to 15.6%.
- The US raised interest rates, the third time this year, by 0.25%.
- After a year of anticipating what the December ANC Conference will mean for the ANC, the government and our country, the event is finally dawning. We have arranged for our political analyst, Ivor Sarakinsky to debrief our clients post the outcome, whilst the Daily Maverick is producing a live feed on the event through this link.
- Steinhoff Chair and South African Billionaire, Christo Wiese, has stepped down from his role in the company. Heather Sonn will replace him as acting Chairman.
- The Steinhoff collapse has revived the debate on Active vs Passive Funds. Our strategy, as Dynasty, is that both are necessary for prudent diversification and robust portfolio construction. BusinessDay has an interesting Editorial on the debate.
- Pretoria’s High Court has ruled that Jacob Zuma must personally pay back his legal expenses from halting Thuli Madonsela’s State Capture Report from being released. This is the first time that a South African President has been issued a personal legal cost order. Follow the link for more information.