Day: May 30, 2024

The Reserve Bank’s Monetary Policy Committee (MPC) has kept the repo rate unchanged at 8.25%.

Briefing the media following a meeting of the MPC, Reserve Bank governor, Lesetja Kganyago said the decision was unanimous.

In its statement on Thursday, the MPC said inflation outcomes were worse than expected early in the year, leading to a repricing of rate expectations.

‘There is still considerable uncertainty about the longer-run inflation outlook, globally. That said, inflation outcomes in the United States have been more benign recently, and markets still see some room for adjustments by the US Federal Reserve this year. We may also see easing by other major central banks.’

The country’s current inflation rate stands at 5.2%.

The MPC further said the exchange rate of the rand has been particularly volatile since the previous MPC meeting in March.

‘Turning to the outlook, we now see inflation stabilising at our 4.5% objective in the second quarter of next year. This is an improvement on our March forecast
, which only reached this milestone at the end of 2025. The changes to the outlook, however, are not large when compared to our March forecast. Average inflation for 2025 is only a tenth of a percentage point lower. The task of achieving our inflation objective is not yet done.’

The bank has revised down its 2024 food and core forecasts marginally due to better than expected CPI releases in March and April.

Fuel price inflation is now expected to be higher, in the near-term, but it improves for 2025.

‘Nonetheless, the Committee remains concerned that inflation expectations are elevated. After three years of inflation being above 4.5%, few survey respondents, especially from businesses and trade unions, now believe that inflation will be at 4.5% in two years’ time.

Although the MPC assesses the inflation forecast risks to be broadly balanced at present, high inflation expectations require that we deliver on our target sooner rather than later, to re-anchor expectations.’

The MPC welcomed the recent improv
ement in the supply of power, with no loadshedding since 26 March.

‘We have revised our load shedding assumption down, but additional revisions may be required if this performance is sustained. Overall, our forecasts show a modest acceleration in growth, over the next few years, alongside a gradual stabilisation of inflation at our target. However, uncertainty is unusually elevated at the moment.

‘Considering this outlook, the MPC decided to keep the repo rate unchanged at 8.25%,’ said Kganyago.

The next meeting of the MPC will be in July.

Source: South African Government News Agency

With vote counting having been concluded in the National and Provincial Elections 2024 (NPE2024), each voting station is now expected to embark on a process to finalise its results.

This according to Electoral Commission (IEC) Chief Electoral Officer (CEO) Sy Mamabolo, who was briefing the media at the IEC National Results Operations Centre in Midrand on Thursday afternoon.

He explained that the process is now expected to unfold as follows:

Once the results have been counted and finalised, the presiding officer and party agents will, in the presence of observers, sign the result slip which will then be placed in a tamper-evident bag and transported to the capture centre.

At the results capture centre, a check and balance process will ensue. This includes checking that the result slip is on the correct form, has details of the voting station and those of the presiding officer as well as a voting station unique barcode. It is then captured onto the system using the double blind method.

Using the barcode, t
he results slip is then scanned and the results are electronically matched with the appropriate voting district.

External auditors will then audit the results slip to ensure that it is captured correctly.

The results are then taken through the Commission’s exception parameters. If an exception is flagged, the results are investigated and taken through the recapture process.

Once the results pass the test, it will then become final and available to political parties, independent candidates and the media.

‘Once all the results are finalised, the Commission will undertake the seat calculation process, based on a prescribed formula. The full list of the new public representatives will be handed over to the Chief Justice once seat assignment is completed.

‘While this process is proceeding well, it is important to reflect that historically, in the first 24 hours, 80% of the results would have been finalised. However, the process in the NPE2024 has been slowed down by the third ballot, particularly in the metro
politan areas,’ he said.

READ | Vote counting now concluded

The CEO emphasised that the commission has at least a week to announce the results.

‘We have always been able to declare and announce the results well within this period and will endeavour to do so with these elections,’ Mamabolo concluded.

Source: South African Government News Agency

Government has thanked the millions of South Africans who successfully went out in their numbers to make their voices heard in the seventh democratic elections by casting their votes.

‘Particularly noteworthy is how first-time voters clearly came out in their numbers to affirm their right to vote and in so doing their commitment to a democratic and free country, a country which knows its freedom came at a high price,’ Government Communication and Information System (GCIS) Acting Director-General, Nomonde Mnukwa, said on Thursday.

South Africans went to the polls on Wednesday in the 2024 National and Provincial Elections.

These elections coincide with the country’s celebration of 30 years of freedom and democracy.

‘The youth of South Africa have confirmed their commitment to shaping our nation’s future in this election and their engagement in the electoral process is a testament to their adherence to constitutional values. We salute you all,’ Mnukwa said.

The GCIS said the unwavering commitment, dedicatio
n and professionalism of various stakeholders and role players was instrumental in ensuring that the country held successful elections.

‘The conduct of the electorate during this process has been exemplary as a testament to the founding principles of the country’s democracy and is a reflection of a nation hallmarked and acknowledged globally by a regular, credible electoral process since 1994.

‘This active participation of citizens is indeed a cornerstone of our democratic process and will go a long way in building a vibrant and representative nation,’ the GCIS said.

Law enforcement agencies working through the National Joint Operational and Intelligence Structure (NATJOINTS) were crucial in ensuring safe and peaceful elections.

‘This ensured that all citizens exercise their democratic right to campaign and cast their vote freely and without fear. The security measures, most notably in identified hotspot areas, contributed to elections that were peaceful and safe. Where incidents were reported, these were
swiftly addressed not only by law enforcement and officials of the Electoral Commission (IEC).’

The voting process by the IEC across all correctional facilities concluded without significant issues.

‘This is an important milestone for a democratic country, ensuring that eligible voters, including the incarcerated, participate in the electoral process. The synergy amongst correctional officials in preparing inmates and ushering them to the voting stations made it possible for the IEC to guarantee a seamless and secure voting experience for inmates.

‘The Department of Home Affairs also ensured that all South Africans had identification documents for the purpose of casting their votes with extended operating hours and issuing of temporary ID documents to enable the public to have the necessary documents that enabled them to vote.

‘Since the dawn of democracy, South Africa’s general elections have been viewed as free and fair by both domestic and international observers, and this serves as encouragement for t
he country to continue to uphold the integrity of the electoral processes,’ GCIS said.

Government acknowledged the invaluable contributions of community leaders, elections officials, volunteers, and all who played various roles in facilitating successful elections.

‘Working together, the teams were instrumental in ensuring voter education and accessibility for all eligible voters. All sectors of society are commended for making it possible for the elections to be held in such a peaceful, nonviolent, and safe manner,’ GCIS said.

The election was also marked by a record number of political parties as well as independent candidates for the first time, which is a reflection of South Africa’s maturing multiparty democracy.

The cooperation by all political parties is a demonstration of the collective spirit of ensuring that all citizens exercise their democratic right to vote.

‘The role of the various communication channels and platforms, as well as national and international media in ensuring comprehensive co
verage of our elections confirms the crucial role of media in strengthening democracy and civic education. Throughout this elections period, the media played a critical role in reflecting on our advances, challenges and our developmental journey since 1994,’ GCIS said.

Government has thanked the various partners from state entities but also various agencies, civil society and the non-government sector, as well as the media, who played an assertive role during the elections period, to curb disinformation and misinformation thus contributing to the integrity of information circulated during the electoral process.

Vote counting and establishing a new administration

‘As the counting process unfolds, the public is urged to refrain from sharing information in the form of pictures and videos that seek to declare elections results or incite violence pertaining to elections results. Elections results will be announced officially by the IEC as the body that is legally mandated to announce elections results,’ Mnukwa
said.

Government has reiterated that there will be no vacuum as South Africa journey’s to the establishment of the seventh democratic administration and whilst the country awaits the outcomes of the elections.

Government will continue to execute its Constitutional mandate of providing services to all South Africans.

Source: South African Government News Agency

Northern Cape Provincial Commissioner, Lieutenant General Koliswa Otola, has expressed her gratitude to all stakeholders within the Justice, Crime Prevention and Security (JCPS) Cluster for their unwavering dedication and professional conduct during the policing of the 2024 General Elections in the province.

‘Force deployments, as well as the collective efforts by all stakeholders, played a pivotal role in ensuring a peaceful elections process,’ said Otola, who is the Chairperson of the Provincial Joint Intelligence Structure.

Otola acknowledged the professional conduct of all law enforcement officers who executed their duties with integrity and in an impartial manner and commended the upstanding behaviour of the communities in the province.

‘No serious incidents were reported and law enforcement agencies swiftly responded to all occurrences reported,’ Otola said.

The Commissioner commended the cooperation with law enforcement and Electoral Commission (IEC) officials’ contribution towards a safe and stabl
e environment.

‘Law enforcement in conjunction with all JCPS Cluster stakeholders will not relax efforts during the announcement of the results and proceeding celebrations. Crime prevention operations and disruptive actions will continue unabated to ensure the safety and security of all inhabitants in the province,’ Otola said.

High police presence will continue until post elections

Meanwhile, Gauteng Provincial Commissioner Lieutenant General Tommy Mthombeni has assured the people of Gauteng that a high police presence will continue in the province until the election process is complete.

‘No serious incidents were reported during the casting of votes in Gauteng, even in areas that were classified as high risk,’ Mthombeni said.

Joined by the Director-General for the Department of Justice and Constitutional Development, Advocate Doctor Mashabane and Ekurhuleni Chief of Police Isaac Mapeyeye, Mthombeni visited the Provincial Results Operation Centre in Alberton on Wednesday.

There he briefed the media on
how law enforcement agencies were able to maintain law and order as people were casting their votes in Gauteng.

KwaZulu-Natal Provincial Commissioner, Lieutenant General Nhlanhla Mkhwanazi, has also assured that police deployed at strategic areas in KwaZulu-Natal will remain in place until after the new government has taken over the reigns and the province is declared stable.

Mkhwanazi and the National Commissioner of the Department of Correctional Services, Makgothi Thobakgale, monitored the police deployments from the skies and flew over some voting stations, including eThekwini District, which has the highest number of voting stations which were categorised as high risk.

Source: South African Government News Agency

Halfway through the first day of vote counting in South Africa’s 2024 National and Provincial Elections, over 20% of votes have been tallied.

This is as of 2pm on Thursday at 4 710 out of 23 293 voting districts.

The Electoral Commission’s (IEC) results dashboard shows that the African National Congress (ANC) currently leads the polls with 43.51%, followed by the Democratic Alliance (DA) with 24.65%.

The Economic Freedom Fighters (EFF) is sitting at 8.85%, while the uMKhonto we Sizwe (MK Party) is at around 8.11% and 4.07% for the Patriotic Alliance (PA).

Millions of South Africans took to the polls to make their mark in the National and Provincial Elections on Wednesday with many facing long, snaking queues, reminiscent of the 1994 elections.

Polls closed at 9pm last night but all citizens who were in the line were allowed to exercise their democratic right to vote for their party of choice.

The IEC said the counting of ballots occurs at the voting station where the votes are cast.

Party agents, indep
endent candidate agents, and observers oversee the entire counting and results process and are present at all times.

Source: South African Government News Agency

Vote counting is progressing steadily after South Africans took to the polls in the 29 May National and Provincial Elections.

According to the Electoral Commission of South Africa’s Results Dashboard, as at 15:41pm on Thursday, with counting at 21.05% (4 903 of 23 293 voting districts completed), the African National Congress (ANC) leads with 43.39%, followed by the Democratic Alliance (DA) with 24.72%, and the Economic Freedom Fighters (EFF) with 8.90% nationally.

There are 27 782 477 registered voters in the country.

Provincial Legislature overview

In terms of vote counting for the Provincial Legislatures, results on the dashboard stand as follows for the leading parties:

Eastern Cape (counting 25.78% complete): ANC – 63.68%; DA – 15.68% and EFF – 9.44%.

Free State (counting 35.69% complete): ANC – 53.36%; DA – 21.37% and EFF – 12.45%.

Gauteng (counting 15.27% complete): ANC – 33.76%; DA – 30.46% and EFF – 11.66%.

KwaZulu-Natal (counting 11.94% complete): uMkhonto we Sizwe (MK Party) – 43.33%; ANC –
20.47% and Inkatha Freedom Party – 19.45%.

Mpumalanga (counting 23.69% complete): ANC – 50.97%; MK – 17.10% and EFF – 13.16%.

Northern Cape (counting 73.01% complete): ANC – 46.50%; DA – 24.57% and EFF – 10.57%.

Limpopo (counting 13.15% complete): ANC – 70.31%; EFF – 13.19% and DA – 9.14%.

North West (counting 18.01% complete): ANC – 63.27%; EFF – 17.19% and DA – 9.13.

Western Cape (counting 35.69%): DA – 51.72%; ANC – 20.32% and Patriotic Alliance – 10.90%.

Counting continues.

Source: South African Government News Agency