November 22, 2013
From Creamer Media in Johannesburg, I’m Motshabi Hoaeane.
Making headlines:

State-owned power utility Eskom lifts its emergency declaration.

France says Central African Republic is 'on the verge of genocide.'

And, South Africa's Reserve Bank leaves the repo rate unchanged at 5%.

State-owned power utility Eskom has lifted its emergency declaration, invoked on Tuesday, stating that the power system was now stable. It warned, however, that the risk of another emergency declaration remained, as the system continued to be constrained.

CEO Brian Dames said the utility understood the impact on its key industrial customers and the South African economy and had, therefore, lifted the emergency. The system still remained critical and Eskom would continue to heavily rely on the partnerships it has with its customers for the necessary voluntary load reduction to keep going.

Eskom indicated that, since the announcement of the emergency declaration, the utility had been working 24 hours a day to stabilise the system and meet the demands of its customers.

French Foreign Minister Laurent Fabius said on Thursday that the Central African Republic was "on the verge of genocide." It expected the United Nations to give Paris and the African Union permission to intervene.

The US State Department estimates that nearly 400 000 people have been displaced and 68 000 have fled to neighbouring countries since Seleka leader and interim president Michel Djotodia has lost control of his loose coalition of warlords.

While UN Secretary-General Ban Ki-moon said on Monday he may be prepared to deploy UN peacekeepers, US Secretary of State John Kerry has made it plain Washington favours an African peacekeeping force. However, Ban said further tension "might well lead to uncontrollable sectarian violence with untold consequences for the country, the sub-region and beyond".

A 2 500-strong regional peacekeeping force is due to be beefed up next month and come under African Union command but there are increasingly urgent appeals for broader international action as the violence escalates. The US has also pledged $40-million towards the African Union security force.

 

South Africa's Reserve Bank left its repo rate unchanged as expected on Thursday, citing risks to inflation from a weaker rand as the US Federal Reserve starts cutting back stimulus, reducing dollar flows into emerging markets.

Most economists expect an increase in the second half of 2014 at the earliest.

The central bank last cut the repo rate, at which it lends to commercial banks, by 50 basis points to 5% in July 2012 but inflationary pressures fanned by a weaker rand have left little room for further easing despite sluggish economic growth.

Reserve Bank Governor Gill Marcus said the Monetary Policy Committee continues to assess the risks to the inflation outlook, which it expects to be on the upside, mainly as a result of further potential exchange rate pressures.

Also making headlines:
 

The Gauteng Provincial Treasury has adjusted its primary budget appropriation upwards from R76-billion to R79-billion for the 2013/14 financial year.

Western Cape Minister of Finance Alan Winde has advised provincial Parliament that the provincial budget for the 2012/13 financial year has been revised upwards by R340.9-million.

Leading Ugandan opposition figure Kizza Besigye has been charged by police for belonging to an unlawful society.

And, South Africa contributes R4-million to rescue efforts in the typhoon ravaged Philippines.
 

That's a roundup of news making headlines today.