SCOPA chair raises concern over delays facing RAF claimants

File: Scopa chairperson, Songezo Zibi, speaking in Parliament. Chairperson of Parliament’s Standing Committee on Public Accounts (SCOPA), Songezo Zibi, has raised concerns over delays faced by Road Accident Fund (RAF) claimants, who aren’t represented by legal practitioners. He says the integrated customer claim management system that the fund budgeted almost a billion rand for is…

Read More

MPC keeps the repo rate unchanged at 6.75%

The Reserve Bank’s Monetary Policy Committee (MPC) has kept the repo rate unchanged at 6.75%, Governor Lesetja Kganyago announced on Thursday. This leaves the prime lending rate at 10.25%. Kganyago says, “The MPC decided to keep the policy rate unchanged, at 6.75%. Two members favoured a cut of 25 basis points, while four preferred a…

Read More

Nersa approves electricity cost relief for ferrochrome makers

A smelter at Samancor Chrome Energy regulator Nersa on Thursday approved an application by Eskom to reduce electricity tariffs by 35% for two distressed ferrochrome operations battling high power costs. More than a dozen smelters have shut down in South Africa in recent years, leading to thousands of job losses, largely due to high electricity…

Read More

Urgent funding needed to strengthen the BMA: Schreiber

Home Affairs Minister, Doctor Leon Schreiber. Home Affairs Minister, Dr Leon Schreiber, says the only way to end illegal immigration to South Africa is to ensure that the Border Management Authority (BMA) is adequately funded. He’s announced that the Border Management Authority intercepted more than 25 000 people attempting to enter the country during the…

Read More

Reserve Bank’s MPC to deliver interest rate decision

Reserve Bank Governor Lesetja Kganyago. The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) is expected to deliver its first interest rate decision of the year on Thursday afternoon in Pretoria. The bank last cut rates by 25-basis-points in November last year, taking the repo rate to 6.75% and the prime lending rate to…

Read More