News 18:00

BULLETIN 28 June 6 pm

Good afternoon. I am……..

In this bulletin:

# Nersa announces the approval of the 2024/2025 electricity tariffs 
# A civic movement criticises the current GNU negotiations as a waste of time 
# And Cricket: The Proteas Women get a batting masterclass from India

# The National Energy Regulator of South Africa completed the approval of 178 licensed electricity distributors’ tariffs for the 2024/2025 financial year. These tariffs, affecting municipal and private distributors, will be implemented from the first of next month. Nersa’s Charles Hlebela says distributors submitted tariffs based on cost of supply studies or detailed cost breakdowns, ensuring transparent and regulated electricity pricing across the country:

# Save South Africa Civic Movement has criticised the current Government of National Unity negotiations as a waste of time, primarily benefiting those vying for ministerial positions rather than serving citizens. The group asserts that the President holds the constitutional authority to appoint ministers and urge GNU members to prioritise national interests. The movement’s Tebogo Mashilompane, has further commended parties like the EFF and MKP for rejecting the negotiation process:

# South African mining leaders advocate for a streamlined “one-stop shop” to simplify application processes, boost efficiency, and attract investment. Minerals Council South Africa CEO Mzila Mthenjane emphasised the need for mining to drive economic growth, addressing past legislative challenges and promoting sector prominence. Despite challenges such as slow approvals and infrastructure shortcomings, he cited that efforts are underway to enhance operational performance and regulatory reforms for industry revitalisation.

# Global anti-money laundering watchdog the Financial Action Task Force added Monaco to the grey list of countries subject to increased monitoring. South Africa is also on this list. At a plenary meeting in Singapore it also added Venezuela to the list of nations considered to have strategic deficiencies in countering money laundering and terrorist financing, while however cooperating with the task force to correct the problems. Jamaica and Turkey were removed from the list. The task force also has a black list of nations which are considered high-risk jurisdictions.

# Cricket: It’s been a terrible first day for the Proteas Women in their one-off Test match against India in Chennai. The hosts won the toss and elected to bat. The first wicket only fell in the 52nd over with India on 292 when Smriti Mandhana was dismissed for 149 runs. Her opening partner, Shafali Verma, went on to score 205 runs off just 197 balls. At stumps the hosts had reached 525 for 4 – averaging more than 5 runs per over for the day.

# And the financial indicators: The dollar trades at 18-rand-20-cents and the euro at 19-rand-47-cents. One British pound costs 23-rand-1-cent and Bitcoin trades at 61-thousand-457-dollars-68-cents. Gold sells at two-thousand-329-dollars-73-cents a fine ounce and Brent crude oil is quoted at 85-dollars-10-cents a barrel.

Stay tuned for more news………….