NEWS: Eskom could earn nearly R40bn if a 25,3% tariff increase it has requested is approved, according to the supplier’s spokesperson. According to Fin24 the National Energy Regulator of South Africa will meet today to discuss whether to grant Eskom’s request for an electricity price hike from July. Neil Roets, CEO of Debt Rescue, said the proposed increase would have a serious impact on consumers. He added that Eskom’s tariff hikes would result in an increase in the average South African’s level of debt. Eskom said it would also apply for other single-digit hikes in the next two financial years.
ENTERTAINMENT: Hip-hop star Nkululeko ‘Flabba’ Habedi’s girlfriend is expected to appear in the Alexandra Magistrate’s Court on Wednesday in connection with his murder. The Skwatta Kamp musician was stabbed to death at his home in March in the early hours of the morning, allegedly by his girlfriend, Sindisiwe Manqele. Manqele was arrested and charged with his murder. She was seen limping into the courtroom with her face covered during earlier court proceedings. During her bail application her lawyer submitted an affidavit on her behalf stating she had acted in self-defence. Manqele claimed that she too had sustained injuries before Flabba’s death. She was granted R10 000 bail and the matter was postponed for further investigation.
INTERNATIONAL: The search continues for the US Marine Corp helicopter that disappeared while providing help in Nepal after the country was struck by an earthquake. Six US marines and two Nepalese soldiers were said to be on-board the aircraft. According to CNN the helicopter went missing on Tuesday evening near Charikot, Nepal. The cause of the disappearance was not immediately clear, and the incident is under investigation. Figures put the death toll at more than 50 people, with dozens more displaced. More than two weeks ago Nepal was struck by a massive quake that killed almost 8 000 people. Around 300 American personnel are on the ground in Nepal helping with relief efforts.
BUSINESS: Economic Development Minister Ebrahim Patel has committed R23bn towards the advancement of South Africa’s black industrialists. Speaking in Parliament, Patel said the money would come from the Industrial Development Corporation (IDC). Patel added that this would form part of a larger umbrella project by the IDC to drive job creation. “To boost overall investment further, the IDC has earmarked R100 billion in the next five years for investment in the key jobs drivers and we expect a R200 billion of co-funding by IDC partners, bringing potentially R300 billion to the economy,” Business Report quoted Patel as saying. He also announced the establishment of an independent panel of steel-industry experts who would be tasked with providing guidance in creating a more competitive steel price for downstream users while stimulating local demand for steel.
POLITICS: Parliament will appeal the Western Cape High Court’s decision regarding the right to remove or arrest parliamentary members who cause disturbances. The court on Tuesday declared Section 11 of the Powers and Privileges and Immunities of Parliament and Provincial Legislatures Act inconsistent with the Constitution and thus invalid. “The court concluded that what Section 11 applies to is what the judgment termed ‘robust debate and controversial speech’ and ‘the privilege to free speech,'” Parliament said. “Parliament’s stance was and is explicitly that this is not what Section 11 provides. The section relates to conduct which goes beyond this and puts in jeopardy Parliament’s very ability to function.” The court found that the argument that members would disrupt Parliament’s functions with impunity, without certain legislation governing their conduct, was “unconvincing”.
SOURCES: EWN, News24Wire, Business Day, Business Report, Fin24, CNN.