News 07:00

BULLETIN 31 January 7 am

Good morning. I am……..

In this bulletin:

# The Ministry of Electricity and Energy welcomes the approval of the electricity tariff increases
# Cosatu welcomes the interest rate cut but calls for more action
# And Israel releases 110 Palestinian prisoners

# The Ministry of Electricity and Energy welcomes energy regulator Nersa’s approval of electricity tariff hikes for the next three years, effective from 1 April. The hikes will be 12.74-percent for 2025/2026, 5.36-percent for 2026/2027, and 6.19-percent for 2027/2028. Eskom wanted a 36-percent hike for this year. Minister Kgosientsho Ramokgopa expressed confidence in Nersa’s decision. Ministry spokesperson Tsakane Khambane says measures will be introduced to cushion vulnerable consumers from rising costs:

Meanwhile, the DA plans to take legal action against energy regulator Nersa’s approval of Eskom’s electricity tariff increases. The party argues the hikes are unfair and will burden struggling households and businesses. The DA’s Kevin Mileham says consumers should not bear the cost of Eskom’s financial mismanagement and corruption:

# Cosatu has welcomed the 25-basis-point repo rate cut to 7.5-percent, lowering the prime lending rate to eleven-percent. The trade union federation says the cut offers relief to workers facing rising costs but urges the Reserve Bank to go further. The federation’s spokesperson Zanele Sabela calls for a bolder reduction of up to 200 basis points this year to boost economic growth. She also demands government support for Eskom, Transnet, and Metro Rail, along with fuel price reforms and zero-VAT-rated essential food items.

# The Freedom Front Plus says the arrest and charges against Duduzile Zuma-Sambudla, former president Jacob Zuma’s daughter, send the right message regarding incitement to commit violence in South Africa. She appeared in the Durban Magistrate’s Court on Thursday on terrorism and incitement charges, concerning the deadly July 2021 violence in Gauteng and KwaZulu-Natal. Zuma-Sambudla pleaded not guilty to all charges. The FF Plus expects the National Prosecuting Authority to handle the prosecution properly and not give her any special treatment.

# Israel’s Prison Service released 110 Palestinian prisoners as part of the ceasefire deal on Thursday. This comes after eight hostages, three Israeli and five Thai nationals, were released from captivity in Gaza. In phase one, the current phase of the ceasefire, a total of 33 Israeli hostages taken captive in the October 7 attacks are supposed to be freed. Israel is expected to release around two-thousand Palestinian prisoners in turn. Israeli prime minister Benjamin Netanyahu says mediators have now assured that future hostages will be guaranteed a safe exit.

# Golf: South Africa’s Daniel van Tonder leads the MyGolfLife Open by two strokes, after firing a ten under-par opening round of 62 at the Pecanwood Golf and Country Club in the North West. The 33-year-old leads by two from Peter Karmis from Greece, and countrymen Luke Brown, Nikhil Rama and Jason Roets who share second place on eight under par. Van Tonder, who won the SDC Open last week, says he is pleased to continue his good form:

# And the financial indicators: The dollar trades at 18-rand-54-cents and the euro at 19-rand-26-cents. One British pound costs 23-rand-4-cents and Bitcoin trades at 104-thousand-579-dollar-70-cents. Gold sells at two-thousand-794-dollars-94-cents a fine ounce and Brent crude oil is quoted at 76-dollars-8-cents a barrel.

Stay tuned for more news………….