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Ramaphosa to restore money related security

The task of Cyril Ramaphosa as the new ANC president comes as a relief to restore to a great degree key trust in both the political and budgetary nature of the country, Federation of Unions of South Africa (Fedusa) said on Tuesday. Fedusa General Secretary Dennis George said in a statement the arrangement will go long way in the restoration …

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Eskom reacts to 5.23% tariff hike

Eskom has expressed disappointment at the National Energy Regulator of South Africa’s (Nersa) decision to only grant it a 5.23% tariff hike instead of the 19.9% increase it had asked for. The power utility had asked Nersa for a 19.9% average increment. “Eskom notes and is disappointed with the decision by the National Energy Regulator of South Africa on Eskom’s allowed …

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COSATU condemns Eskom tariff increases 

The Congress of South African Trade Unions [Cosatu] says it is distraught and angry at NERSA for the approval of 5, 23% tariff increases for Eskom 2018 financial year. Cosatu National Spokesperson Sizwe Pamla said the trade union welcomes the rejection of the requested 19, 9% increase by Eskom, saying they are concerned by this trend of using high electricity tariffs to …

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Nersa grants Eskom 5.23% tariff increase

The National Energy Regulator of South Africa (Nersa) has granted power parastatal Eskom an average percentage price increase of 5.23% for the 2018/19 financial year. The regulator announced its decision on Friday, 15 December after Eskom had applied for a 19.9% average increase in electricity tariffs for 2018/19, which would have resulted in total allowable revenue of R219.5 billion. Instead, …

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The UIF board communicates worries in the wake of Steinhoff outrage

The Unemployment Insurance Fund (UIF) Advisory Board has communicated worry over reports of conceivable misrepresentation and corporate administration disappointment at Steinhoff. The Board with the advice of the Minister of Labor, Mildred Oliphant met with the Public Investment Corporation (PIC) on December 14, 2017, to talk about the Steinhoff fiasco. “As the overseer of workers’ supports, the Board is of …

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Eskom baffled with NERSA’s decision

Eskom notes and is baffled, following a decision by the National Energy Regulator of South Africa (NERSA) on the Power Utility’s allowed revenue of R190,348 billion for the 2018/19 financial year. This means a rate cost increment of 5.23%. Eskom said it a statement on Friday it made its application as per the Multi-Year Price Determination (MYPD)  which enables Eskom to …

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Committee offended by inconsistencies at Steinhoff

The Standing Committee on Finance has communicated shock at what has occurred at Steinhoff and absolutely denounces the organisation’s conduct. The Committee encourages the Financial Services Board (FSB), the South African Reserve Bank (SARB), and the Independent Regulatory Board for Auditors (IRBA) and the Johannesburg Stock Exchange (JSE) to speed up their investigations and release the results to the general …

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Steinhoff to show up before Parliament

The Portfolio Committee on Public Service and Administration chairman, Cassel Mathale approaches every administrative expert and criminal equity framework to explore Steinhoff outrage. Mathale’s remarks in a statement on Monday take after affirmations that individuals from the Government Employees Pension Fund (GEPF) could lose about R12.5-billion in speculations. The test into money-related inconsistencies at Steinhoff had prompted the abdication of …

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PSA requires the defending of public servants savings

The Public Servants Association (PSA), is heightening the protection of public servants pension investments. This comes in the wake of late stunning news of bookkeeping inconsistencies in one of the real players in the Johannesburg Stock Exchange (JSE), Steinhoff. PSA is the second biggest Public Service union representing more than 230 000 individuals from the Government Employees’ Pension Fund (GEPF). …

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Paying below prescribed wage is illegal

No employer may pay workers below the minimum wage once it becomes law, Department of labour’s national briefing session aimed at trade unions was told in Tzaneen, Limpopo, on Wednesday. The briefing, which was attended by dozens of people was told that social partners have identified national minimum wage as one of the measures to reduce the high level of …

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