News 07:00

BULLETIN 21 August 7 am

Good morning. I am……..

In this bulletin:

# The EFF says living costs are becoming unsustainable for the working class and the poor
# OUTA says corruption runs deep in SETA, and it demands urgent reform
# And, the UN chief says Africa must be part of decisions that affect its future

# The EFF says Statistics South Africa’s July 2025 Consumer Price Index demonstrates that the cost of living continues to rise in ways that are unsustainable for the working class and poor. Inflation has risen to a ten-month high of 3.5-percent in July, up from three-percent in June. The EFF says global economic changes, including rising US tariffs, are seeping into South Africa’s import basket. It adds that it rejects the logic of austerity and market-driven governance that abandons the poor in the face of inflationary pressure.

# The Organisation Undoing Tax Abuse says placing three Sector Education and Training Authorities under administration is not enough to fix years of corruption and mismanagement. The organisation calls for a strict two-month deadline to appoint credible boards and ethical CEOs at the construction, services, and local government SETAs. OUTA’s Stefanie Fick says there must be a clear focus on using public funds to train young South Africans rather than being wasted:

# The Steel and Engineering Industries Federation of Southern Africa has warned that uncertainty over South Africa’s public procurement rules on local content is stalling industrialisation linked to the grid roll-out. Speaking at a National Business Initiative dialogue, CEO-designate Tafadzwa Chibanguza said delays in finalising procurement regulations have rendered local content designations unenforceable, leaving state organs reliant on imports. He also cautioned that the first request for proposals on independent transmission projects favours foreign investors, risking domestic manufacturing capacity.

# The Gauteng Legislature’s portfolio committee on Cooperative Governance and Traditional Affairs has expressed concern at Merafong Municipality’s deteriorating financial and governance position. The municipality owes Rand Water alone 1.4-billion-rand. Earlier this month, it was revealed that the municipality wasted four-million-rand on a draft organisational structure that does not comply with the Municipal Staff Regulations. Committee chairperson, Mzi Khumalo, says with the right interventions and the full commitment of all spheres of government, the municipality has the potential to recover and rebuild public confidence.

# The United Nations Secretary General, António Guterres, has reiterated his call for Africa to have a greater say in decisions that affect its future. He addressed the 9th Tokyo International Conference on African Development in Yokohama, Japan, on Wednesday. The conference is being held under the theme, Co-creating Innovative Solutions With Africa. Guterres says Africa’s path to prosperity must focus on adding value to its raw materials, creating decent jobs, and building resilience, taking advantage of the African Continental Free Trade Area.

# Golf: Fifteen-time major champion Tiger Woods has been named as chairperson of the newly established Future Competition Committee. The nine-member committee, six players and three business advisors, will be tasked with defining the optimal competitive model that enhances the PGA Tour’s value to fans, players, and partners. PGA Tour CEO Brian Rolapp says three governing principles will guide the committee in its efforts: parity, scarcity, and simplicity:

# And the financial indicators: The dollar trades at 17-rand-68-cents and the euro at 20-rand-60-cents. One British pound costs 23-rand-80-cents and Bitcoin trades at 114-thousand-419-dollar. Gold sells at three-thousand-345-dollars-16-cents a fine ounce and Brent crude oil is quoted at 66-dollars-78-cents a barrel.

Stay tuned for more news………….