News 15:00

BULLETIN 13 January 3 pm

Good afternoon. I am……..

In this bulletin:

# The South African Reserve Bank reviews the prime lending rate
# Eskom reaffirms its commitment to transparent regulatory reform
# And golf: Brooks Koepka is to make a sensational return to the PGA Tour

# 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.

# Eskom says it is participating alongside other traders in the National Energy Regulator of South Africa-led process, to develop trading rules that enable a fair, transparent and sustainable competitive marketplace. This is in relation to the power utility reportedly pausing its legal challenge against Nersa over the granting of electricity trading licences to five private electricity traders. Eskom’s Aubrey Sambo says the utility’s objective has been to avoid regulatory uncertainty:

# The UDM has cautioned against celebrating pass rates without confronting the deeper realities within the basic education system. The matric class of 2025 achieved a slight increase from 2024’s 87.3-percent. UDM’s Zandile Phiri says while progress must be acknowledged, it must not be used to conceal persistent inequalities between schools, unsafe and dilapidated infrastructure, overcrowded classrooms, and shortages of learning materials:

Meanwhile, the GOOD Party says the matric results in the Western Cape are not just a measure of academic performance; they are a testament to survival. The province recorded an 88.2-percent pass rate, ranking fifth nationally. GOOD’s secretary general, Brett Herron, says in too many communities, learners are prepared for their final exams to the grim soundtrack of gunshots and cries for help:

# Golf: Five-time major champion Brooks Koepka will return to the PGA Tour with immediate effect. The American had been ineligible to compete on the PGA Tour since joining LIV Golf in 2022, but confirmed last month he was parting ways with the Saudi-backed circuit. His return is under the new Returning Member Programme. Only players who have been away from the PGA Tour for at least two years and have won The Players or a major over the last four seasons are eligible for the programme.

# And the financial indicators: The dollar trades at 16-rand-43-cents and the euro at 19-rand-16-cents. One British pound costs 22-rand-12-cents and Bitcoin trades at 92-thousand-39-dollars. Gold sells at four-thousand-585-dollars-24-cents a fine ounce and Brent crude oil is quoted at 64-dollars-31-cents a barrel.

Stay tuned for more news………….