News 11:00

BULLETIN 25 March 11 am

Good morning. I am……..

In this bulletin:

# An economist says the South African Reserve Bank is likely to hold interest rates to protect price stability
# Minister Ramokgopa says Eskom aims to eliminate load reduction by the end of this year
# And cricket: The New Zealand Women seal the T20 series against South Africa

# South Africa faces renewed inflation risks despite brief market relief, driven by rising fuel costs and import dependence. This is according to Aluma Capital’s Frederick Mitchell, who says the South African Reserve Bank Monetary Policy Committee is likely to hold interest rates tomorrow to protect price stability. This is amid heightened global tension and a surge in oil prices. Mitchell says in a cost-push environment, a premature cut would only weaken the Rand further, exacerbating the cost of imported fuel and fertiliser. 

# Minister of Energy and Electricity, Kgosientsho Ramokgopa, says his department, working jointly with Eskom, has developed a structured Load Reduction Elimination Programme. Addressing the National Assembly yesterday, Ramokgopa said load reduction is not a generation shortfall, but a localised network protection measure triggered by sustained overloading at the distribution level. He stated that more than 380-thousand smart meters have been installed nationally, with over 199-thousand consumers being removed from load reduction schedules:

# ActionSA is demanding accountability after a damning Health Ombud report exposed preventable deaths and systemic failures at Dr George Mukhari Academic Hospital and Netcare Femina Hospital in Pretoria. The party’s Emma More says the findings reveal a collapse of patient safety, governance and clinical ethics. More has called for the provincial Health MEC Nomantu Nkomo-Ralehoko to appear before the legislature and provide a plan to protect the rights and safety of vulnerable patients:

# Iran says non-hostile vessels will be permitted to pass through the Strait of Hormuz, provided they coordinate in advance with authorities. Nearly one-fifth of the world’s oil and liquefied natural gas shipments pass through the Strait. However, this critical energy transit route has been affected by the US-Israeli war with Iran. Iran has warned that any vessels, equipment, or assets belonging to or linked with the US, Israel, or other parties involved in what it described as aggression against it would not be granted the right of innocent passage.

# Cricket: New Zealand Women thrashed South Africa by 92 runs in the fifth and final T20 in Christchurch to claim the series 4-1. Captain Amelia Kerr produced a batting masterclass, smashing 105 from 55 balls as the White Ferns posted 194 for six in their 20 overs. In reply, the Proteas Women were restricted to 102 for nine with Annerie Dercksen scoring 23, the only batter to get past 20 runs. The two teams will now turn their attention to the three-match ODI series, starting in Christchurch on Sunday.

# And the financial indicators: The dollar trades at 16-rand-91-cents and the euro at 19-rand-62-cents. One British pound costs 22-rand-66-cents and Bitcoin trades at 71-thousand-20-dollars. Gold sells at four-thousand-548-dollars-50-cents a fine ounce and Brent crude oil is quoted at 96-dollars-35-cents a barrel.

Stay tuned for more news………….