For Creamer Media in Johannesburg, I’m Thabi Shomolekae.

Making headlines: MKP, ATM join forces ahead of elections; South Africa's current account deficit shrinks more than expected; And, US notifies S Africa it has withdrawn from the JETP programme

MKP, ATM join forces ahead of elections

The uMkhonto weSizwe Party and the African Transformation Movement have agreed to work together, as parties prepare for the 2026 Local Government Elections and the 2029 General Elections.

Following a meeting, held in Durban yesterday, the parties discussed their shared values and objectives and agreed that their respective secretary-generals will hold bilateral meetings to see how best both parties can work together in upcoming by-elections.

The outcomes of these meetings will then be presented to the parties’ leadership and members.

The parties will join forces on all political, community and parliamentary programmes and activities.

South Africa's current account deficit shrinks more than expected

South Africa’s current account deficit shrank by more than expected in the fourth quarter, aided by an improvement in the trade surplus.

The gap on the current account – the broadest measure of trade in goods and services – narrowed to 0.4% of gross domestic product or R31.6-billion in the three months through December, from a revised 0.8% of GDP or R55.6-billion in the prior quarter, data released today by the central bank showed.

The deficit for the year was 0.6% of GDP or R44.5-billion, compared with a gap of 1.6% of GDP in 2023. That was better than the 1.2% shortfall forecast by the central bank.

Driving the narrower quarterly deficit was a widening in the nation’s trade surplus to R232.9-billion from R200.4-billion in the third quarter, as the value of goods exported increased by more than that of merchandised imports.

And, US notifies S Africa it has withdrawn from the JETP programme

The US has has withdrawn from a $9.3-billion climate finance pact between some of the world’s richest countries and South Africa, according to a unit in the office of President Cyril Ramaphosa.

The US had planned to contribute about $1-billion in commercial loans to the Just Energy Transition Partnership. France and Germany have so far led implementation with €1.5-billion in concessional loans.

That’s a roundup of news making headlines today

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