News 06:00

BULLETIN 10 February 6 am

Good morning. I am……..

In this bulletin:

# Business Leadership SA calls on president Ramaphosa to clarify the electricity reforms
# Solidarity warns that corruption claims at Denel threaten national security and public trust
# And cricket: South Africa is off to a winning start in the T20 World Cup

# Business Leadership South Africa says president Cyril Ramaphosa needs to clarify his stance on electricity reform. In December, the Department of Electricity and Energy approved a revised unbundling plan for Eskom, which the organisation says undermines the agreed policy. BLSA CEO Busisiwe Mavuso says the revised Eskom unbundling plan leaves transmission assets with the power utility, rather than transferring them to the independent Transmission System Operator as agreed policy requires. She adds that this casts a dark cloud over the future of electricity reforms. 

# Trade union Solidarity says state-owned munitions company Denel is facing a serious leadership and governance crisis. This follows reports of alleged corruption and mismanagement at the state-owned defence company. The union warns that recent problems, including delayed salaries, show a wider failure that threatens national security and public trust. Solidarity’s Derek Mans calls on Denel’s board to suspend top executives, work with law enforcement, and take urgent action to restore ethical governance:

# The Gauteng legislature’s Community Safety Committee says illegal mining has turned Bekkersdal into a war zone, with violence, shootings, and kidnappings escalating in the area. In December, a tavern shooting left nine dead and 21 injured, and recent attacks continue to fuel fear. Police report the use of high-calibre firearms linked to organised crime. The committee’s chairperson, Bandile Masuku, calls for urgent action, better policing, and improved infrastructure to restore safety for residents:

# The City of Cape Town says energy regulator, Nersa’s decision to raise Eskom’s annual tariff hike to almost nine-percent for the next two-years is unfair to consumers. The city argues Nersa should have scrapped the increase pending a full reassessment of the utility’s multi-year price application, citing errors in asset depreciation, outdated valuations, and incorrect financial forecasts. Mayoral committee member for Energy, Xanthea Limberg, says the city is now considering legal action against the decision.

# Scottish Labour leader Anas Sanwar has called for UK prime minister Keir Starmer to resign. Starmer is under pressure, after his judgment was questioned over the appointment and subsequent sacking of Peter Mandelson as US ambassador. Mandelson passed market-sensitive government information to the late convicted sex offender Jeffrey Epstein. In response, Downing Street says the prime minister has a clear five-year mandate from the British people to deliver change, and that is what he will do. Sanwar says a change of leadership is needed:

# Cricket: Last year’s finalist South Africa got their T20 World Cup campaign off to a winning start, beating Canada by 57 runs in Ahmedabad, India. Captain Aiden Markram’s 59 off 32 balls and David Miller’s unbeaten 39 propelled the Proteas to 213 for four in their allotted 20 overs. In reply, despite Navneet Dhaliwal’s impressive 64 from 49 balls, Canada could only manage 156 for eight. Lungi Ngidi was the pick of the bowlers, taking four wickets. South Africa’s next encounter in Group D is against Afghanistan tomorrow.

# And the financial indicators: The dollar trades at 15-rand-88-cents and the euro at 18-rand-94-cents. One British pound costs 21-rand-72-cents and Bitcoin trades at 70-thousand-436-dollars. Gold sells at five-thousand-59-dollars-15-cents a fine ounce and Brent crude oil is quoted at 68-dollars-72-cents a barrel.

Stay tuned for more news………….