For Creamer Media in Johannesburg, I’m Lumkile Nkomfe.

Making headlines: Ramaphosa pledges to be a President for all South Africans in inaugural speech, as he warns against dissent; Parliament concerned over UDM deputy leader Kwankwa’s kidnapping; And, South African inflation stable but still above central bank objective

 

Ramaphosa pledges to be a President for all South Africans in inaugural speech, as he warns against dissent

Presidnt Cyril Ramaphosa said the the formation of a government of national unity, or GNU, is a moment of profound significance.

Speaking during his inaugural speech, at the Union Buildings, Ramaphosa pledged himself to be a President for all South Africans and to work with everybody committed to “a better life for all”.

The inauguration, which was overseen by Chief Justice Raymond Zondo, and attended by various heads of State as well as former Presidents Thabo Mbeki and Kgalema Motlanthe, marks Ramaphosa’s second stint as South Africa’s leader, but this time, he is not only backed by his political party, the African National Congress, but also by other parties that make up the GNU.

After losing its outright majority in the May 29 national and provincial elections the ANC was forced to forge alliances with other parties to form a national government.

While Ramaphosa’s speech was full of calls for cooperation, unity and collaboration he also sought to dissuade any attempts that could be made to encourage discord or dissent.

 

Parliament concerned over UDM deputy leader Kwankwa’s kidnapping

Parliament said that it was deeply concerned by the kidnapping of the United Democratic Movement’s deputy president Nqabayomzi Kwankwa.

Kwankwa was kidnapped en route to the Cape Town International Airport, yesterday. He was to attend the Presidential inauguration of Cyril Ramaphosa at the Union Buildings, in Gauteng, today.

Kwankwa was returned safely on the same day, after the party paid a R10 000 ransom.

His vehicle and other personal items were stolen but the vehicle was later found abandoned.

Parliament said it was relieved that Kwankwa was returned safely but expressed shock and concern at the incident.

 

And, South African inflation stable but still above central bank objective

South African inflation was stable in May, data showed today, but analysts do not expect interest rate cuts any time soon as it remains above the central bank's desired level.

Headline consumer inflation came in at 5.2% year on year in May, the same as in April, in line with the forecast of economists polled by Reuters.

The South African Reserve Bank wants to see inflation fall to 4.5%, the midpoint of its target band, and has kept its main interest rate at its highest level since 2009 for more than a year to try to achieve that objective.

Inflation has been above 5% for months, and the central bank estimated last month that inflation would only stabilise at 4.5% in the second quarter of 2025.

Capital Economics analyst David Omojomolo said the formation of a government of national unity following last month's election could ease the central bank's fiscal concerns, meaning a higher chance of a rate cut before the end of this year.

 

That’s a roundup of news making headlines today

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