News 17:00

BULLETIN 11 August 5 pm

Good afternoon. I am……..

In this bulletin:

# The Reserve Bank takes direct control of key regulatory and oversight functions
# NSFAS is burdened with billions of rands in unrecovered former-student loans
# And: The ousted Syrian dictator Bashar al-Assad is sentenced to death in absentia

# The South African Reserve Bank is taking direct control of key regulatory and oversight functions previously handled by the Payments Association of South Africa. The changes, effective from today, form part of an overhaul aimed at modernising the national payment system and strengthening its safety and resilience. Remaining PASA functions linked to electronic funds transfers, DebiCheck, PayShap and real-time clearing will move to PayInc by 2 September. SARB says consumers and businesses should experience no disruption to payments or banking services.

# The National Student Financial Aid Scheme is reportedly burdened with 49.5-billion-rand in unrecovered loans owed by about 823-thousand former students. The figures have renewed concerns about loan recovery and financial management at the scheme. NSFAS has previously urged former beneficiaries who received loans before 2018 to repay their debts when they meet the required income threshold. The Special Investigating Unit has also recovered billions in funds linked to unqualified beneficiaries and institutions.

# The DA says legal threats by Gauteng Education MEC Lebogang Maile against municipalities disconnecting water and electricity at schools will not solve the province’s long-standing utility crisis. The party blames poor coordination, inaccurate municipal billing, unpaid property rates and inadequate funding for schools. The DA’s Sergio Isa Dos Santos says urgent action is needed to prevent learners from bearing the cost of failures by the provincial government:

# A Syrian court has sentenced ousted former president Bashar al-Assad to death in absentia after finding him guilty of war crimes and crimes against humanity committed during the country’s civil war. Assad fled to Moscow with his family after his regime was overthrown in December 2024, ending more than five decades of family rule. His cousin, Atef Najib, was also sentenced to death. Six former military and security officials, including Assad’s brother Maher and former Defence minister Fahd al-Freij, were sentenced to death in absentia.

# Rugby: Springbok legend Tendai “Beast” Mtawarira backs South Africa to beat New Zealand in Rugby’s Greatest Rivalry. The 117-cap prop believes the Springboks’ heavy weaponry up front will overpower the All Blacks’ forwards and give South Africa the advantage. Mtawarira says the strength and physicality of the South African pack could prove decisive in one of rugby’s biggest clashes, as the world champions look to lay down a marker:

# And the financial indicators: The dollar trades at 16-rand-18-cents against the rand and the euro at 18-rand-68-cents. One British pound costs 21-rand-84-cents and Bitcoin trades at 64-thousand-247-dollars. Gold sells at four-thousand-391-dollars-99-cents a fine ounce and Brent crude oil is quoted at 90-dollars-12-cents a barrel.

Stay tuned for more news………….