News 11:00

BULLETIN 3 August 11 am

Good morning. I am……..

In this bulletin:i

# Minister Ramokgopa leads a delegation to the SA-China Electricity and Energy investment conference
# The Treasury is focused on ensuring that reforms translate into measurable improvements
# And rugby: The All Blacks’ stand-in captain says facing the Springboks is the biggest challenge

# Minister of Electricity and Energy, Kgosientsho Ramokgopa, is leading a high-level delegation to the South Africa–China Electricity and Energy investment conference in Beijing. They aim to accelerate delivery of the 2.2-trillion-rand Integrated Resource Plan investment pipeline. Cabinet also recently approved long-awaited electricity reforms, including a new electricity pricing policy. Eskom CEO Dan Marokane, who has accompanied Ramokgopa, told the SABC they are looking at partnerships to help modernise the grid:

# National Treasury says while the global economic environment remains uncertain, sustained implementation of structural reforms is improving South Africa’s competitiveness, reducing constraints to growth, and laying the foundations for higher levels of private investment. Government released the Operation Vulindlela 2026 quarter one report last week, which shows continued progress in advancing reforms to improve the performance of network industries. Treasury says the focus now is on accelerating delivery, resolving remaining bottlenecks and ensuring reforms translate into measurable improvements in infrastructure, service delivery and economic performance.

# SANParks’ Table Mountain National Park Fire Management Team is continuing to respond to the ongoing wildfire above Kloof Nek Corner and the Table Mountain Aerial Cableway in Cape Town, which broke out yesterday evening. SANParks spokesperson, JP Louw, says while conditions were favourable overnight due to lighter winds, potential flare-ups are anticipated for today as temperatures increase, particularly in cliff and rocky areas that remain difficult for ground crews to access:

Moving abroad:

# The seven member countries of the Organisation of Petroleum Exporting Countries and its allies, known as OPEC Plus, have agreed to increase oil production next month. This is due to the continued disruptions at the Strait of Hormuz, through which about 20 million barrels of oil transited before the US-Iranian war began. The oil-producing group will raise daily output by another 188-thousand barrels, its sixth consecutive agreement to increase production amid the war. OPEC Plus says this decision reflects its collective commitment to supporting stability in the global oil market.

# Rugby: Stand-in New Zealand captain Codie Taylor says they are under no illusion about the challenge of facing the world champion Springboks on home soil. He stands in until regular captain Ardie Savea links up with the team ahead of the first Test at Elllis Park on the 22nd. The All Blacks will open their eight-match tour against the Stormers in Cape Town on Friday. Taylor says they are ready:

# And the financial indicators: The dollar trades at 16-rand-46-cents and the euro at 18-rand-97-cents. One British pound costs 22-rand-16-cents and Bitcoin trades at 62-thousand-562-dollars. Gold sells at four-thousand-and-61-dollars-68-cents a fine ounce and Brent crude oil is quoted at 87-dollars-12-cents a barrel.

Stay tuned for more news………….