News 14:00

BULLETIN 13 January 2 pm

Good afternoon. I am……..

In this bulletin:

# The South African Reserve Bank reviews the prime lending rate
# The National Assembly debates the key budget and tax legislation
# And cricket: Faf du Plessis will miss the remainder of the SA20 with a thumb injury

# The South African Reserve Bank is currently in a review process of the prime lending rate – the main reference rate commercial banks use to lend money to South Africans. The central bank is reportedly considering narrowing the gap between the prime lending rate of 10.5-percent and the repo-rate at which the Reserve Bank lends money to banks, currently at seven-percent. The margin of 3,50-percentage has been in force since 2001. Chief economist at Momentum Sanisha Packirisamy says over the short term it could reduce debt-service cost for consumers.

# The National Assembly is meeting today to consider several key bills, including the Special Appropriation Bill, Adjustments Appropriation Bill, and amendments to tax laws. The Special Appropriation Bill seeks additional funding for the Department of Health to cover shortfalls caused by the withdrawal of international donor funding in the current financial year. The bills were introduced during the medium-term budget policy statement. Members of Parliament will also consider the Justice portfolio committee’s Budgetary Review and Recommendation report.

# Education activist Hendrick Makaneta says the 2025 matric results show progress in the country’s basic education sector, particularly in KwaZulu-Natal. A record-breaking pass rate of 88-percent was achieved in the National Senior Certificate exams, with KZN being the top-performing province nationally. Makaneta cautions against viewing pass rates as the only measure of success:

Meanwhile, the Soil of Africa Movement is calling on government, the private sector and civil society to strengthen pathways for learners leaving school. The movement’s chairperson, Bongani Ramontja, says the official matric pass rate is a clear demonstration that progress is possible when focus, accountability, and collective effort are applied. He says education must not end in Grade 12:

# Cricket: Joburg Super Kings’ captain, Faf du Plessis, will miss the remainder of the SA20 after sustaining a thumb injury during Saturday’s match against MI Cape Town at the Wanderers. The team confirmed the 41-year-old former Proteas captain has to undergo surgery. Du Plessis had been in good form during the tournament so far, scoring a total of 135 runs in their first seven matches, with JSK currently lying third on the log. Donovan Ferreira is touted to take over the captain’s role.

# And the financial indicators: The dollar trades at 16-rand-41-cents and the euro at 19-rand-15-cents. One British pound costs 22-rand-12-cents and Bitcoin trades at 92-thousand-107-dollars. Gold sells at four-thousand-585-dollars-87-cents a fine ounce and Brent crude oil is quoted at 64-dollars-46-cents a barrel.

Stay tuned for more news………….