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South African President Jacob Zuma. Photo: Sean Gallup/Getty Images

South African President Jacob Zuma is facing mounting pressure to step down over corruption charges, and his scheduled "state of the nation" address has been postponed as the African National Congress party weighs his future.

The latest: Zuma has repeatedly resisted calls to resign, but South Africa’s online news service Times Live, cited unnamed sources, reports that Zuma will step aside soon under certain conditions. The report said a deal was struck late Tuesday local time with party leader Cyril Ramaphosa.

What’s happening:

  • The ANC, which has governed South Africa since the election of Nelson Mandela in 1994, would likely replace Zuma with Ramaphosa, his deputy, who was elected party leader last December.
  • Parliament said in a statement that the state of the nation address was being postponed “in order to create room for establishing a much more conducive political atmosphere in Parliament.” The opposition had threatened to disrupt the speech, the BBC reports.
  • An emergency meeting to determine Zuma's future had been scheduled for Wednesday but has been pushed back, per Reuters.
  • The Nelson Mandela Foundation, run by close colleagues of the country’s first black president, on Tuesday urged the embattled President to step down, according to local media reports. The foundation said Zuma had “betrayed the country" according to News24, a local station. An early exit would allow the ruling political party to "shore up" its prospects for next year’s election, the group said.
  • Zuma will face yet another no-confidence motion scheduled for Feb. 22, per The Associated Press. He narrowly survived a a no-confidence vote last August.

Go Deeper: The New York Times on how a British P.R. firm was disgraced by its activities in South Africa.

Go deeper

Battle for the soul of a new web

Illustration: Aïda Amer/Axios

A well-funded and intensely motivated chunk of tech's hive mind is finding common cause in a vast new project: rebuilding the web on a foundation of cryptocurrency and blockchain tech. They call it "Web3."

The big picture: Developers, investors and early adopters imagine a future in which the technologies that enable Bitcoin and Ethereum will break up the concentrated power today's tech giants wield and usher in a golden age of individual empowerment and entrepreneurial freedom.

First look: Biden summons top CEOs on supply chain

Photo: Alex Wong/Getty Images

President Biden will meet Monday afternoon with CEOs of big retailers, grocers and consumer-products firms to send this message, according to the White House: Products will be on shelves for holiday shopping.

Zoom out: Black Friday sales rebounded from 2020.

Thanksgiving box office shows theaters have long road to recovery

Photo of Disney's "Encanto;" Credit: Disney

Box office ticket sales over the Thanksgiving holiday show that consumer confidence in moviegoing is slowly improving, but not enough to bring the struggling theater industry back to pre-pandemic levels anytime soon, if ever.

Why it matters: "We may have to temper expectations a bit" for next year, said Comscore senior media analyst Paul Dergarabedian.