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Daily podcast – March 1, 2013.

1st March 2013

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March 1, 2013.

From Creamer Media in Johannesburg, I’m Motshabi Hoaeane.

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Making headlines:

Nersa grants Eskom an 8% yearly increase between 2013 and 2018.

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Zimbabawean Prime Minister Morgan Tsvangirai says Mugabe is losing grip and resorting to violence.

And, ANC secretary-general Gwede Mantashe says migration to global exchange has hurt South Africa’s own exchange.

 

The National Energy Regulator of South Africa (or Nersa) announced on Thursday that Eskom would be allowed to increase electricity tariffs at an average yearly rate of 8% between 2013 and 2018. The increase is half the 16% sought by the utility in its application for the third multiyear price determination (or MYPD3) period.

In fact, the State-owned utility had requested an allowable revenue allocation of nearly R1.1-trillion, which would have increased its average selling price from 61c/kWh currently to a nominal 128c/kWh by 2017/18, or a real price of 96c/kWh.

The approved tariff increases, which were premised on an allowable revenue of R906.6-billion, would result in the electricity price increasing to 89.13c/kWh by the end of the MYPD3.

 

Zimbabwe's Prime Minister Morgan Tsvangirai says President Robert Mugabe's party is losing its grip and resorting to violence. This comes after suspected supporters of the elderly president burned the young son of a local party official to death.

Christpowers Maisiri, 12, whose father is in Tsvangirai's Movement for Democratic Change (or MDC) party, was set on fire while sleeping in a hut with his brothers last weekend in Headlands district, 170 km (110 miles) east of Harare.

The MDC quickly blamed Mugabe's ZANU-PF party, saying the alleged killers were after the boy's father, Shepherd Maisiri. However, ZANU-PF denied killing the boy and accused the MDC of trying to fan pre-election tensions in the southern African state.

 

African National Congress secretary-general Gwede Mantashe contends that allowing South African companies to migrate to global stock exchanges has impacted negatively on South Africa’s own exchange.

He also criticized, in a guest column in the latest edition of Mining Weekly what he described as “the emerging trend” of the separation of South African assets from the global assets that they have capitalised.

His explanation is that, at the moment of South Africa’s attainment of freedom, neo-liberalism was at the pinnacle of being the world’s most dominant ideology and resulted in South African companies being permitted to establish primary listings on foreign exchanges.

Mantashe also expressed high regard for companies that show national pride in their countries of domicile and laments the loss to Britain of an iconic South African-reared giant like Anglo American.

 

Also making headlines:

Consumer Protection Act exemptions for low and medium capacity municipality are set aside by the Pretoria High Court.

A top Al Qaeda commander Abou Zeid is killed in Mali.

West African leaders leaders call for a UN mandate for a Mali mission.

And, South Africa's President Jacob Zuma takes an anti-rape campaign to South Africa classrooms.

That’s a roundup of news making headlines today.

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