News 17:00

BULLETIN 14 February 5 pm

Good afternoon. I am……..

In this bulletin:

# Urgent upgrades are needed for South Africa’s power grid
# Iran is set to expand trade with South Africa
# And Gravel Burn wants to cement the country as the gravel cycling capital of the world

# The National Transmission Company says South Africa’s grid infrastructure is unfit for supporting economic growth or new renewable energy sources essential for the just energy transition. The company plans to expand transmission lines by 14-thousand-kilometers by 2035, but challenges in construction capacity and funding persist. Industry leaders advocate for Independent Transmission Projects to attract investment and accelerate upgrades. The company says the private-sector readiness underscores the need for rapid grid expansion to fuel economic activity and revitalise local industries.

Meanwhile, Eskom has restructured its forensic and investigative functions as part of its ongoing efforts to combat corruption and strengthen governance. The new group investigations and security division, reporting directly to CEO Dan Marokane, aims to tackle misconduct and improve internal controls. Eskom spokesperson Daphne Mokwena says these steps, along with a partnership with the Special Investigating Unit, are crucial to holding wrongdoers accountable and recovering financial losses:

# Iran is set to expand trade with South Africa, building on strong ties that already led to 15 joint commissions and major agreements. Speaking at the 46th anniversary of the Iranian Revolution in Pretoria, ambassador Mansour Shakib Mehr highlighted plans for a political committee to prepare for the 16th joint commission in Tehran. He says it is aimed to advance science, technology, and its knowledge-based economy while strengthening bilateral cooperation.

# A federal judge has temporarily lifted a freeze on funding to US aid and development programmes ordered by president Donald Trump’s administration. Judge Amir Ali, who was appointed by former president Joe Biden in November, prohibited the Trump administration from suspending, pausing, or otherwise preventing foreign assistance funds. The administration has frozen foreign aid funding, ordered thousands of internationally based staff to return to the United States, and begun slashing the USAID headcount of 10-thousand employees to around 300.

# Cycling: The inaugural Gravel Burn, an international gravel stage race, hopes to cement South Africa as the gravel cycling capital of the world. The seven-day, 850-kilometre race will start in Knysna in the Western Cape on the 26th of October, and end at the Shamwari private game reserve in the Eastern Cape on the first of November. Nedbank is the official sponsor of the event. The bank’s Khensi Nobanda expects the race to boost the region’s economy:

# And the financial indicators: The dollar trades at 18-rand-36-cents and the euro at 19-rand-24-cents. One British pound costs 23-rand-12-cents and Bitcoin trades at 96-thousand-607-dollars. Gold sells at two-thousand-926-dollars-71-cents a fine ounce and Brent crude oil is quoted at 75-dollars-50-cents a barrel.

Stay tuned for more news………….