The South African rand edged lower to around 17.1 per USD, with investors focused on the ANC’s four-day National General Council (NGC) amid speculation over internal efforts to unseat President Cyril Ramaphosa. With local government elections set to take place as early as next November, the ANC is meeting to assess its recent performance. The party has been criticized for the slow pace of economic reforms, while also facing voter dissatisfaction over its failure to provide basic services such as water and sanitation. President Ramaphosa delivered a firm message at the NGC on December 8, urging members to end internal divisions and warning that factional battles are weakening the party. On a brighter note, South Africa raised ZAR 11.8 billion in its first infrastructure-bond sale, signaling strong investor appetite and marking a significant step toward unlocking long-term funding needed to boost economic growth.