? BANKS AND INSURERS WILL SOON NEED PLANS TO EDUCATE 'GULLIBLE' CUSTOMERS IN SOUTH AFRICA

South Africa’s financial regulator is planning to require financial institutions to unveil their plans for boosting spending on customer education.

The regulator seeks to improve the lives of consumers in a nation where a majority of people live paycheck to paycheck.

Unathi Kamlana, the commissioner of the Financial Sector Conduct Authority (FSCA), said in an interview that the Financial Education Commitment Charter will also require institutions to commit in writing to adhere to international standards for consumer education and prioritise customer protection.

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? 2,500MW NUCLEAR PLANS FOR SOUTH AFRICA PUSHING AHEAD - WITH OWNERSHIP THE NEXT BIG QUESTION
Despite energy minister Kgosientsho Ramokgopa withdrawing the Ministerial Determination for the procurement of 2 500MW of nuclear energy in August, the energy department is continuing its studies and processes laying the foundation for an eventual build.

Updating the portfolio committee on energy about the 2,500MW nuclear plans this week, the department said it was making progress on the feasibility studies and analysing the responses from vendors and stakeholders as part of the 2020 request for information (RFI) related to the build.

It has also investigated funding and ownership models and will present three recommendations to the Cabinet.

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? LIQUIDATION WARNING FOR SOUTH AFRICAN POST OFFICE
The South African Post Office (SAPO) says that its ‘Day Zero’ is approaching fast in October 2024—the day when its cash reserves will run out and its business rescue practitioners (BRPs) may have to liquidate it.

In an update on the embattled postal group’s business rescue proceedings, it noted that it needed a R3.8 billion bailout from the government to meet its business rescue plan’s needs and to keep operating.

Between June 2023 and June 2024, the SAPO used a R2.4 billion injection to settle its debts and financial obligations to creditors, as well as to pay other settlements and retrenchment costs.

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? NEW SMOKING LAWS FOR SOUTH AFRICA COMING - AS ALMOST A THIRD OF ALL ADULTS LIGHT UO EVERY DAY
Anti-tobacco groups in South Africa have called on the new government to urgently pass the Tobacco Products and Electronic Delivery Systems Control Bill to combat smoking and regulate the emerging vape and e-cigarette markets.

New data shows that, on average, daily smokers in South Africa smoke 8.5 cigarettes a day, while the prevalence of tobacco use among adults in the country is 29.4%, which equates to 12.7 million people.

This information is based on the 2021 Global Adult Tobacco Survey (GATS) South Africa report. Data was gathered from 7,245 households and the report was released by the Department of Health on Thursday, 13 June 2024.

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businesstech.co.za

New smoking laws for South Africa coming – as almost a third of all adults light up every day

The Global Adult Tobacco Survey shows tobacco use in South Africa is still high – with new laws coming to combat it.

? GOVERMENT'S R89 BILLION FUEL TAX
The government expects to make around R89 billion from the general fuel levy in the current financial year, adding to the over R730 billion it has generated in the past decade.

While South Africans experienced some relief from high petrol and diesel prices this month, the fuel cost is still over 50% higher than two years ago and nearly double what it was a decade ago.

A large driver of this has been the additional taxes the government has levied on fuel sold in South Africa.

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https://dailyinvestor.com/energy/54302/governments-r89-billion-fuel-tax/

? JOBURG GRID COLLAPSE WARNING
June 13, 2024 by Myles Illidge

The City of Johannesburg says it has implemented load reduction to prevent the electricity grid from collapsing.

In a statement released on Thursday, 13 June 2024, executive mayor Kabelo Gwamanda says he supports City Power’s precautionary measures to prevent a grid collapse.

He added that a grid collapse is an eventuality which would have catastrophic consequences for the city’s residents.

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MyBroadband

Joburg grid collapse warning

Executive Mayor Kabelo Gwamanda has urged the city’s residents to reduce consumption to prevent a catastrophe.

? COURT CASE COULD STOP ELECTRICITY PRICE HIKES
June 9, 2024 by Hanno Labuschagne
Afriforum has launched an urgent legal application that could stop municipalities from increasing electricity tariffs next month.
The civil rights organisation has asked the Pretoria High Court to block the National Energy Regulator of South Africa (Nersa) from considering municipalities’ tariff adjustment applications if they did not include cost studies.
The action comes after a ruling by the High Court in October 2022 that declared Nersa’s old method for approving municipal electricity tariff adjustments unlawful.

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MyBroadband

Court case could stop electricity price hikes

Nersa’s failure to abide by a High Court ruling in October 2022 could punish municipalities but provide short-term relief to their customers.

? JOBURG ANNOUNCES LOAD REDUCTION AND THREATENS TO SWITCH OFF GEYSERS
June 9, 2024 by Hanno Labuschagne

Johannesburg’s City Power will start implementing load reduction in areas with “concerning” electricity usage levels that could overload equipment.

The power utility has also threatened to switch off geysers during peak demand periods in areas with substations equipped with ripple relay systems and plans to implement load limiting in areas with smart meters, even outside load-shedding slots.

City Power explained that electricity consumption in the metro had reached critical levels, requiring stringent measures to protect the grid from total collapse.

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? THE ADVANTAGES OF LEGISLATIVE GRIDLOCK
Daily Friend

OPINIONS

IVO VEGTER
JUN 7, 2024

Whether alone or in coalition, the ANC will struggle to pursue its legislative agenda.

‘The best government is that which governs least’, goes an old motto, often misattributed to Henry David Thoreau.

It is on this basis that advocates of small government and free markets often argue that legislative bodies without outright majorities, in which it is hard to pass legislation, are a good thing for the body politic.

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https://dailyfriend.co.za/2024/06/07/the-advantages-of-legislative-gridlock/

? SERIOUS CONCERNS OVER NEW ENVIRONMENT BILL
DAILY FRIEND

OPINIONS

IAN COX

The Minister of Environmental Affairs has just published a Draft Bill that if enacted will replace the existing 2004 National Environmental Biodiversity Act (NEMBA). This is the law that deals with the protection of endangered species, the eradication of invasive species, and the commercial use of native species or what has become known as bioprospecting.

This 20-year-old law needs to be replaced because it has failed. Thousands of pages have been devoted to a plethora of regulations plans and standards, very little of which has been implemented. The law has proved to be unworkable in most instances and unlawful in many.

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https://dailyfriend.co.za/2024/06/03/serious-concerns-over-new-environment-bill/

Daily Friend

Serious concerns over new environment bill - Daily Friend

The Minister of Environmental Affairs has just published a Draft Bill that if enacted will replace the existing 2004 National Environmental Biodiversity Act (NEMBA). This