News 15:00

BULLETIN 20 January 3 pm

Good afternoon. I am……..

In this bulletin:

# The 8.5-percent increase in the national minimum wage had minimal impact on employment
# Government urges students to be aware of bogus colleges
# And rugby: South African teams travel to Europe for the Challenge Cup round of 16

# A study by the University of Cape Town’s Development Policy Research Unit has found that the 8.5-percent increase in the national minimum wage in 2024 had a minimal impact on employment, with job losses and reduced hours only slightly affecting workers. However, only 20-percent of the 5.4-million eligible workers received the full increase. In addition, compliance has remained a significant challenge despite the wage hike providing some protection for low-income workers. The proposed 2025 increase is inflation plus 1.5-percent.

Meanwhile, the Institute of Race Relations says the national minimum wage has destroyed an estimated 430-thousand jobs since its implementation in 2019. The organisation urges the Minimum Wage Commission to cut the wage by 25-percent, which it believes could restore up to half-a-million jobs. The institute’s Gabriel Crouse says 39-percent of workers now earn less than the minimum wage and warns the proposed increase will worsen unemployment:

# Government has issued a warning to prospective students to avoid enrolling at unregistered or bogus colleges. Bogus colleges are educational institutions not officially registered with the Department of Higher Education and Training, training authorities or other relevant governing bodies. Government’s spokesperson, Kgomotso Ranoto, says qualifications obtained from any bogus institution cannot be used for employment purposes or for further studying:

# Rugby: The Bulls, Sharks and Lions will travel to Europe in April to play in the round of 16 of the Challenge Cup. The Sharks will face Lyon, the Bulls will play Aviron Bayonnais and the Lions will play Edinburgh. The Sharks were knocked out of the Champions Cup with a 66-12 defeat against Bordeaux-Begles. The Bulls qualified for the Challenge Cup last 16 by beating Stade Francais 48-7 in Pretoria. The Lions secured their playoff spot with a 60-10 win against the Dragons.

# The financial indicators: The dollar trades at 18-rand-75-cents and the euro at 19-rand-36-cents. One British pound costs 22-rand-88-cents and Bitcoin trades at 108-thousand-23-dollars. Gold sells at two-thousand-711-dollars-62-cents a fine ounce and Brent crude oil is quoted at 79-dollars-53-cents a barrel.

# And finally: The 67 Blankets for Nelson Mandela Day initiative will mark eleven years of spreading warmth and unity with a special event. The celebration will be held at The Farmhouse at Steyn City in Gauteng on Saturday. Those attending the event are encouraged to donate handmade blankets or wool. These contributions will form part of the world’s largest blanket installation at Nelson Mandela University on March 20th, marking the United Nations International Day of Happiness. Founder Carolyn Steyn says this initiative has become a symbol of love.

Stay tuned for more news………….