April 30, 2026 

For Creamer Media in Johannesburg, this is Polity's daily news podcast. 

Making headlines: 

Local elections set for November 4

Maimane warns long-term solutions needed as temporary fuel levy cuts welcomed

And, Rating agency Moody's gives up regulatory licence of South African subsidiary

South Africa will hold its next municipal elections on November 4, President Cyril Ramaphosa said in a post on X.

The country holds municipal elections roughly every five years, and South Africans had been waiting to know the date of the next local government vote.

The biggest political party, Ramaphosa's African National Congress, has tended to do worse in municipal elections than national ones, as voters vent frustrations over deteriorating public infrastructure like roads and water pipes.

In the 2021 municipal elections, the ANC won less than half of the vote for the first time since the 1994 end of white minority rule.

That result turned out to be a forerunner for the 2024 national election, when the ANC lost its parliamentary majority, after which it formed a broad coalition government that saw Ramaphosa remain head of state.

The Parliamentary standing committee on appropriations on Thursday welcomed the National Treasury’s decision to implement a temporary reduction in the general fuel levy, citing it as a necessary shield for South Africans against a volatile global economy.

National Treasury announced that the R3 per litre reduction on petrol will now be extended until June. Additionally, a significant short-term boost for diesel users will see the levy relief increased by 93 cents effectively reducing the diesel levy to zero from May 6, until June 2.

Portfolio committee chairperson Dr Mmusi Maimane said that these measures are critical for protecting the most vulnerable sectors of society.

While applauding immediate relief, Maimane noted that relying on levy reductions is not a long-term solution. He highlighted the need for Parliament to focus on fiscal resilience and the creation of economic "buffers" to handle future shocks.

Credit rating agency Moody's has given up the regulatory licence of its South African subsidiary to focus on serving cross-border investors and African issuers looking to attract international funding.

The move by Moody's is part of adjustments to its business model, and it will continue to rate South African issuers from other locations.

It is not expected to affect how Moody's rates South Africa's sovereign credit.

South African banks use credit ratings from recognised agencies like Moody's to determine their minimum required regulatory capital and reserve funds for credit risk.

A notice by South Africa's market conduct regulator, the Financial Sector Conduct Authority, dated April 16 said: "Moody's Ratings-SA informed the Authority that it no longer wants to be registered as a credit rating agency in terms of the Act and that it is renouncing its registration".

Asked for comment, a Moody's spokesperson said the agency would "support our customers with a relationship management presence from our office in Johannesburg," in line with its approach in markets across Asia and Latin America.

That’s a roundup of news making headlines today

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