For Creamer Media in Johannesburg, I’m Sane Dhlamini.

Making headlines: South Africa's GDP growth to expand 0.3% in 2023, Eskom threatens court action if Tshwane does not settle R1.9-billion debt and, Nigeria’s President Tinubu suspends anti-corruption agency head

 

South Africa's GDP growth to expand 0.3% in 2023

South Africa's economy will grow a modest 0.3% this year, softened by a mild contraction this quarter, but will gain just enough momentum in coming quarters to avoid a recession, a Reuters poll predicted on Thursday.

However, electricity shortages have added a large uncertainty around forecasting currency moves and economic growth.

This quarter the economy probably contracted 0.7% in year-on-year seasonally-adjusted terms, but a recovery of 0.5% was expected in the third quarter followed by 1.1% growth in the final quarter, the poll showed.

Independent economist Elize Kruger said her forecast for 2023 was slightly above market consensus as it seemed the economy was somewhat more resilient than expected amid numerous headwinds.

 

Eskom threatens court action if Tshwane does not settle R1.9-billion debt

The cash-strapped City of Tshwane owes Eskom R1.9-billion.

Eskom said on Wednesday the metro had underpaid by R179-million on its April invoice, and the May invoice of R776-million still needed to be paid.

The total debt owed by the municipality to Eskom had grown to just under R1.9-billion as of 9 June.

Eskom said it had made various attempts to engage Tshwane on the growing bill - and it has now publicly appealed to the metro to pay the debt.

The company has not ruled out approaching the court for relief.

 

Nigeria’s President Tinubu suspends anti-corruption agency head

Nigeria's President Bola Ahmed Tinubu has suspended the country's anti-corruption chief as part of an investigation into allegations of abuse of office.

Economic and Financial Crimes Commission chair Abdulrasheed Bawa was later questioned by domestic security services.

This was the second dismissal of a top official by Tinubu since he came to office two weeks ago promising economic reforms.

Bawa's suspension follows the ousting and arrest of Nigeria's central bank chief Godwin Emefiele, who was detained by the domestic security services last week as part of a probe into his role.

 

That’s a roundup of news making headlines today

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