South African Reserve Bank (SARB) Governor Lesetja Kganyago has announced that the repurchase rate (repo rate) has reached 7.75% after the Bank’s Monetary Policy Committee (MPC) agreed to a 50 basis points increase.As a result, the prime interest rate will now move up to 11.25%. Kganyago announced this at a press briefing on Thursday afternoon. “The revised repurchase rate is … [Read more...] about Repo rate increases to 7.75%
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Government working on measures to support the unemployed
President Cyril Ramaphosa has reaffirmed government’s commitment to fighting poverty and providing support to those who are unemployed as a core responsibility of the State.“As we work to build the economy and create employment, we remain committed to finding appropriate mechanisms to support all those people who need assistance from the State within the resources available,” … [Read more...] about Government working on measures to support the unemployed
Role of science, technology critical in disaster mitigation
As government continues to mobilise all available resources to assist Port St Johns communities to recover from the extensive damage caused by recent flooding in the area, Cabinet says the role of science, technology and innovation in disaster mitigation has become more critical.“With the deepening impact of climate change, the role of science, technology and innovation in … [Read more...] about Role of science, technology critical in disaster mitigation
Eskom employees key to solving energy challenges – Cabinet
Cabinet has joined the Minister of Electricity, Dr Kgosientsho Ramokgopa, in recognising that Eskom employees are key to solving the country’s energy challenges.This comes after Ramokgopa undertook visits to 14 power stations for first-hand insight of the challenges facing Eskom at power station level. “The visits allowed the Minister opportunities to engage with management, … [Read more...] about Eskom employees key to solving energy challenges – Cabinet
Energy Action Plan makes progress
Mineral Resources and Energy Minister, Gwede Mantashe, says the Energy Action Plan (EAP) that government has implemented to address the electricity crisis is beginning to make progress.Mantashe was addressing the North West Mining and Energy Investment Conference on Thursday. State power utility Eskom announced earlier this month that at least six coal-fired power stations … [Read more...] about Energy Action Plan makes progress
