April 04, 2024.

For Creamer Media in Johannesburg, I’m Halima Frost.

Making headlines:

27.7-million voters certified to make their mark on May 29, as IEC assures readiness

Ex-speaker charged with corruption, granted bail

And, Election anxiety makes South Africa dollar bonds the worst in EM

27.7-million voters certified to make their mark on May 29, as IEC assures readiness

With 27.7-million people on the certified voters roll, South Africa has not seen such a level of voter registration since the establishment of the voters roll in 1999.

This revelation was made by Independent Electoral Commission chairperson Mosotho Moepya as he addressed the signing of the Electoral Code of Conduct, undertaken by political parties contesting the elections.

He stressed the IEC’s readiness to hold the elections as South Africa commemorates 30 years of democracy, on April 27.

Providing updates in various sectors, Moepya noted that since the IEC launched its online registration portal in July 2021, 2.4-million voters used it to register for the first time or to change their personal details.

He said owing to the efficacy of the portal, the registration of young persons is beginning to show initial signs of recovery.

People aged 20 to 29 make up 48.6% of registrations while those in the 18 to 19 age group make up 27% of registrations.

Moepya urged the media to report ethically and without fear or favour during the elections but also had words of caution for political parties and citizens on spreading false information that could affect the credibility of the electoral process.

Ex-speaker charged with corruption, granted bail

South African prosecutors have charged former National Assembly speaker Nosiviwe Mapisa-Nqakula with corruption and money laundering, a day after she resigned following an inquiry into alleged corruption during her time as defence minister.

She was granted bail by a court in Pretoria shortly after the charges were made public. Mapisa-Nqakula, has denied any wrongdoing.

Her residence was raided by investigators last month as part of the inquiry, and she resigned as a member of the parliament on Wednesday.

Lead prosecutor told the Pretoria Magistrate's Court that Mapisa-Nqakula was being charged with 12 counts of corruption and one of money laundering.

Her bail is R50 000 and she must surrender her passport.

The case will be back in court on June 4.

Election anxiety makes South Africa dollar bonds the worst in EM

A slump in South African dollar bonds has made them the biggest laggards in developing markets this year, reflecting concern among investors that a market-unfriendly coalition government may emerge from next month’s elections.

Holders of South Africa’s eurobonds have suffered a 4.4% loss, a worse performance even than Senegal, where postponed elections shook sentiment. In contrast, the average return for emerging markets in Bloomberg’s sovereign hard-currency index in 2024 is a positive 1%.

Investors are most wary of “expensive and populist initiatives” like the proposed National Health Insurance system, or the expropriation of land without compensation advocated by the Economic Freedom Fighters, currently the third-biggest party in parliament.

In a sign of increasing nervousness in markets, the cost of insuring exposure to South Africa has risen, with credit default swaps climbing 53 basis points so far in 2024. Similar measures for peers have remained relatively flat.

That’s a roundup of news making headlines today

Don’t forget to follow us on the X platform, at the handle @PolityZA