News 07:00

BULLETIN 19 August 7 am

Good morning. I am……..

In this bulletin:

# The Public Protector sets a deadline for minister Buti Manamela to submit an action plan
# The new electricity pricing policy will make bills more transparent
# And, South Africans use 64-percent of their pay to service debt

# Public Protector Kholeka Gcaleka has ordered Higher Education minister Buti Manamela to submit an implementation plan by November first, for remedial action at the National Student Financial Aid Scheme. An investigation by the Public Protector found approximately 40-thousand students across 76 higher education institutions were improperly funded at an estimated cost of 5.1-billion-rand. This is despite a three-billion-rand allocation between 2024 and 2027 to support the missing middle. Gcaleka says NSFAS needs a proper funding model:

# Electricity and Energy minister Kgosientsho Ramokgopa says the new Electricity Pricing Policy will strengthen protections for poor and vulnerable consumers while making electricity bills more transparent. The minister says municipal and Eskom bills will be unbundled, showing consumers exactly how charges are calculated. Bills will itemise electricity generation, transmission and distribution costs, ancillary services and municipal surcharges. He says households and businesses should understand what they are paying for:

# DebtBusters says South African consumers remain under serious financial pressure, with people applying for debt counselling needing 64-percent of their take-home pay to service debt. Its latest index shows that consumers earning more than 50-thousand-rand a month need 103-percent of their income to cover debt repayments. The average applicant now has 8.7 credit agreements, the highest level since 2016. DebtBusters executive head, Benay Sager, says rising costs, especially for electricity and petrol, are forcing more people to rely on personal and payday loans.

# DA leader Geordin Hill-Lewis is urging Tshwane residents to give the party an outright victory in the November local government elections, arguing that coalition governments have failed to deliver stable and effective governance. Tensions have erupted between the metro’s coalition partners, with the ANC and EFF accusing ActionSA and mayor Nasiphi Moya of reneging on an agreement to suspend city manager Johann Mettler. Hill-Lewis says an outright DA majority can give Tshwane a mayor who spends less time negotiating the survival of a coalition and more time fixing the metro.

 # US president Donald Trump says there are no talks underway or scheduled with Iran. This is despite him claiming on Monday that his administration had established a back channel with Iran’s Islamic Revolutionary Guard Corps, which the military arm has denied. In a post on Truth Social, Trump stated that the US naval blockade remains in full force and effect, while claiming that the Strait of Hormuz is open and operating. Iran has effectively shut down the critical waterway in retaliation for the war with America.

# Rugby: Springbok assistant coach Felix Jones says both the Boks and All Blacks will be equally prepared going into the opening Test at Ellis Park in Johannesburg on Saturday. New Zealand have won all three games played so far against the Stormers, Sharks and the Bulls. South Africa have had a full-out international run-up against the Barbarians, England, Scotland, Wales, and Argentina. Jones says the three franchise teams have provided key technical takeaways from their matches against the All Blacks:

# And the financial indicators: The dollar trades at 16-rand-25-cents and the euro at 18-rand-81-cents. One British pound costs 21-rand-98-cents and Bitcoin trades at 64-thousand-369-dollars. Gold sells at four-thousand-352-dollars-34-cents a fine ounce and Brent crude oil is quoted at 93-dollars-54-cents a barrel.

Stay tuned for more news………….