March 26, 2019.

For Creamer Media in Johannesburg, I’m Sashnee Moodley.

 

Making headlines:

Court victory for AYO in PIC repayment case

One charge of culpable homicide withdrawn against Duduzane Zuma

And, Mining body says 90 000 jobs at risk from electricity price hikes

 

Court victory for AYO in PIC repayment case

The Companies and Intellectual Properties Commission order issued to the Public Investment Corporation to recoup R4.3-billion from AYO Technology Solutions has been declared unlawful by the Pretoria High Court.

In today’s judgment, the court ruled that the compliance notice issued by the CIPC in February to the PIC should be set aside. The compliance notice was for the PIC to recover its R4.3-billion investment in the JSE-listed technology company.

The PIC was also ordered to recover any interest that may have accrued on the investment within six months.

 

One charge of culpable homicide withdrawn against Duduzane Zuma

One charge of culpable homicide that Duduzane Zuma was facing has been withdrawn.

The case against former president Jacob Zuma's son commenced in the Randburg Magistrate's Court today.

Zuma was facing two charges of culpable homicide and a count of negligent driving relating to a car crash in 2014, in Johannesburg.

On the day, he was driving his Porsche when it rear-ended a minibus taxi, resulting in the death of Zimbabwean national Phumzile Dube.

 

Mining body says 90 000 jobs at risk from electricity price hikes

The Minerals Council South Africa is warning of the threat posed to employment and production in the gold and platinum sectors as a result of Eskom’s recently approved electricity tariff increases, including the 13.8% hike to be implemented from April 1.

The council is also warning that the hikes will accelerate Eskom’s own downward spiral as mines and smelters, which currently consume 30% of Eskom’s yearly production, respond by closing unprofitable operations.

The body’s revised estimates point to 90 000 gold and platinum jobs being at risk as a result of the increases, approved by the National Energy Regulator of South Africa.

The figure represents a modest improvement on the 150 000 job losses forecast ahead of the regulator’s fourth multiyear price determination decision.

 

That’s a roundup of news making headlines today

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