News 07:00

BULLETIN 8 November 7 am

Good morning. I am……..

In this bulletin:

# The ANC submits input on electoral reform
# BOSA says Eskom’s tariff hike will stifle job creation
# And a California wildfire forces over 14-thousand residents to evacuate

# The ANC has reinforced its commitment to an inclusive democracy in its submission to the electoral systems panel, supporting the current proportional representation system. The party says this model has ensured fair representation of diverse groups, including women, youth, people with disabilities and LGBTQI-plus communities. Addressing the media, ANC secretary general Fikile Mbalula, the party pledges to prioritise accountability and transparency in any changes, aiming to uphold the principle that the people shall govern: 

# Build One South Africa says Eskom’s proposed electricity increase will impose further economic hardship on South Africans, especially low-income households, small businesses, and rural communities. Eskom is requesting allowable revenue of 446-billion-rand for 2025/2026, 495-billion-rand for 2026/2027, and 537-billion-rand for 2027/2028. BOSA says higher electricity costs threaten to reduce profit margins, deter investment, and stifle job creation. It has urged the power utility to address its historical inefficiencies by committing to full transparency on the allocation of funds generated through tariff increases.

# Eskom says it has served a notice of intention to interrupt power supply to the City of Johannesburg and City Power at certain pre-determined times. The metro currently owes the power utility 4.9-billion-rand, excluding the current account of 1.4-billion-rand, which is due at the end of this month. Eskom’s spokesperson, Daphne Mokwena, says the failure to pay by the metro is contributing to the growing municipal debt which, as of the end of September, stands at 90-billion-rand:

# The Special Investigating Unit conducted a search and seizure operation at the JB Marks Municipality in the North West. The municipality is being investigated on allegations of maladministration linked to the procurement of goods and services for the construction of a flood line canal next to the N12 provincial road. The SIU’s spokesperson, Kaizer Kganyago, says the search and seizure operation was a last-ditch attempt to access documents needed for their probe into the matter.

# A devastating wildfire raging across Southern California’s Ventura County has forced over 14-thousand residents to evacuate as fierce winds and dry conditions fuel the flames. About three-thousand-500 homes and businesses are under threat. Red flag warnings, which warn of dangerous fire weather conditions, are in place for more than 18 million people, including the Los Angeles area. Ventura County fire captain, Trevor Johnson, says over 800 firefighters and 58 fire engines are battling the blaze:

# Motorsport: Formula One drivers have asked the governing body to treat them like adults. This comes after Red Bull’s Dutch driver, Max Verstappen, and Ferrari’s Charles Leclerc from Monaco were punished for swearing. The Grand Prix Drivers’ Association wrote an open letter to FIA in which it explains the difference between swearing intended to insult others and more casual swearing. The organisation also says its members don’t need to be given instructions by die media over trivial matters such as the wearing of jewellery or underpants.

# And the financial indicators: The dollar trades at 17-rand-34-cents and the euro at 18-rand-70-cents. One British pound costs 22-rand-49-cents and Bitcoin trades at 75-thousand-956-dollar-60-cents. Gold sells at two-thousand-701-dollars-32-cents a fine ounce and Brent crude oil is quoted at 75-dollars-49-cents a barrel.

Stay tuned for more news………….