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The Democratic Alliance (DA) said on Tuesday that should the African National Congress (ANC) succeed in pushing through to Parliament the National State Enterprises Bill, this will allow a return of the capture of State-owned companies through a singular holding company that controls them all.

DA spokesperson on planning, monitoring & evaluation Darren Bergman said his party would continue pushing against the Bill, pointing out that South Africa's circumstances and history demanded a strengthening of oversight over State-owned enterprises (SOEs), not "hiding them all in a giant State company."

Bergman explained that there was also a growing imperative for government to assess and determine which SOEs remained worthwhile and which could be let go of.

"Unbundling non-performing SOEs and opening the door to private-sector participation are key to ensuring sustainable growth and stable government-owned entities," he said.

The previous process to approve the Bill in the National Assembly lapsed with the election in May 2024 and formation of the new government.

In late July 2024, the Bill was revived in the National Assembly and proceedings to take the Bill through parliamentary processes and into legislation were resumed.

Bergman explained that while President Cyril Ramaphosa recently signed a proclamation returning SOEs to relevant ministries, the ANC remained "hellbent on bulldozing" the Bill through Parliament.

"Under the President's proclamation, the Department of Public Enterprises was disbanded by moving all State-owned enterprises to departments fitting their function, and this was a move in the right direction," he said.

He stated that it had been widely reported that after a visit to China, Minister of Planning, Monitoring and Evaluation Minister Maropene Ramakgopa had been shown the weakness in the current proposed plan and shown other remedies to avoid a disaster.

However, he said Ramakgopa was not budging.

He questioned why Ramakgopa remained focused on a centralised model, putting all State entities into one unwieldy company, while disregarding other decentralised or hybrid models.

State-owned power utility Eskom is once again urging all prepaid electricity customers to update their meters immediately to avoid an unexpected loss of electricity after the deadline of November 24.

It is critical that all customers, including those who have not bought electricity in the past six months or more, buy electricity tokens from authorised vendors by November 24 to prevent the meter from becoming inoperable, losing power and incurring replacement costs, says Eskom Distribution group executive Monde Bala.

Buying electricity tokens will provide customers with two sets of 20-digit codes needed to recode and update their meters, he points out.

Customers with meters still using Key Revision Number 1 (KRN1) have likely not bought electricity for more than six months.

"Meters still using KRN1 will no longer accept electricity tokens after November 24. This means that once your current credit is depleted, you will lose power and the meter will become inoperable, necessitating a meter replacement that could cost up to R12 000, which the customer will have to pay," Bala emphasises.

Eskom is prepared to issue tokens to all customers who have not recoded their meters to ensure continuous and secure electricity purchases after November 24. Customers who recode by this deadline will be able to buy tokens seamlessly from all official vendors and maintain uninterrupted supply.

To verify if a meter is ready, enter '1844 6744 0738 4377 2416' on the meter keypad. If it shows 1 or 1.2, the meter needs to be recoded, but, if it shows 2 or 2.2, the meter is updated and requires no further action.

To recode a meter, enter the first 20 digits of the recode token, then enter the second 20 digits of the recode token. Finally, enter the 20-digit token from the latest electricity purchase to recharge the meter.

Eskom has set up community support teams that also work on weekends to assist and make the recoding process accessible for all customers.

"Eskom thanks those who have already completed the recoding and encourages others to act now to secure their supply," he says.

South Africa's rand gained on Monday, as markets welcomed rating agency S&P's decision to raise the country's credit rating outlook.

At 0747 GMT, the rand traded at 18.12 against the dollar, 0.52% stronger than its previous close.

S&P revised South Africa's outlook to "positive" from "stable" on Friday, citing plans for accelerated economic reforms by the new coalition government and a pickup in private investments.

"The credit outlook boost may incentivise continued reforms and efforts by the government to solidify these gains, such as improvements in governance and infrastructure investments," said Andre Cilliers, currency strategist at TreasuryONE.

Local investor focus this week will be on October inflation figures and an interest rate decision by the South African Reserve Bank (SARB).

The SARB is expected to cut rates by 25 basis points on Thursday.

"While a rate cut would align with easing global monetary policies, the SARB is likely to maintain a cautious approach to ensure currency stability and control inflation expectations amid recent ZAR volatility," Cilliers added.

On the stock market, the Top-40 index was up 0.5%.

South Africa's benchmark 2030 government bond was stronger in early deals, with the yield down 5.5 basis points to 9.095%.

The Human Sciences Research Council (HSRC) on Monday called on Minister in the Presidency for Women, Youth and People with Disabilities Sindisiwe Chikunga and her deputy Mmapaseka Steve Letsike to find a long-term holistic approach in curbing gender-based violence (GBV), and to also implement interventions that address psychological and social behavioural factors.

The HSRC released and handed over its first South African National Gender-Based Violence Study 2022 to Chikunga, who promised that her department would incorporate the HSRC's recommendations into the department's strategic plan.

The council wants the Presidency to strengthen childhood protection and legal enforcement services.

The HSRC's report presented the findings of the first 'fit-for-purpose' national study on the prevalence of GBV in nine provinces, outlining the prevalence of physical, sexual, emotional, and economic violence, and psychological abuse among youth and adults 18 years and older.

The study also examined the perpetration of violence by men against their female partners and the underlying role of gender norms in driving GBV.

The study findings contribute to understanding the life course of victimisation and perpetration in South Africa.

HSRC deputy executive director Nompumelelo Zungu pointed out that the study found that 33.1% of all women aged 18 years and older had experienced physical violence in their lifetime.

"…this translates to an estimated 7 310 389 women who have experienced physical violence in their lifetime. Lifetime physical violence was significantly higher among black African women, with 35.5%, compared to women of other race groups," she said.

Zungu added that lifetime physical violence was also significantly higher among women who were cohabiting but not married compared to women who were currently married and women who were not currently in a relationship.

She highlighted that overall, 6.1% of women reported that they had experienced physical violence in the past 12 months, saying this translated to an estimated 1 338 336 women who were physically violated in the country.

Chikunga said the findings of the study should not only serve as a source of shame but also a call for immediate action.

"The findings and recommendations of the study will contribute to our ongoing focus on prevention, enhanced protection for victims and ensuring that perpetrators are held accountable," she added.

Her department would simplify the findings of this study, without diluting it, she said, and added that community intelligence into this complex subject was needed.

"…researchers, scholars, advocates and activists will go beyond reproducing mainstream narratives and get a granular picture from communities that face violence at a community or even street level, to ensure that justice is served," she explained.

She said the study was a baseline from which more research would be conducted at micro levels, saying one of the first actions was to challenge and deliberately repurpose all values and practices across the educational, religious, cultural, sporting and creative environments to support the fight against patriarchal and chauvinism in all spheres of life.

"We must influence the content and delivery of school curriculum to nurture our youth who reject the patriarchal script and the violence it perpetuates in every aspect of life," stated Chikunga.

In promoting awareness, Chikunga further announced that her department would be responsible for integrating the study's findings into the national strategic plan on GBV and femicide.

"…this includes recalibrating existing policies and programmes to align with evidence presented in this study. It is important to mention that the study confirms that we are implementing the pillars of the national strategic plan, particularly pillar six, which is about research and information management systems," she pointed out.

In response to the study, the department announced that it intends convening all social partn...

President Cyril Ramaphosa described the Stilfontein mine as a "crime scene", on Monday, as he called for a peaceful resolution to the standoff at the disused mine shaft, where illegal miners are holed up.

The South African Police Service and government departments have been trying, for over a month, to surface the illegal miners from the abandoned North West gold mine.

While more than 1 000 miners have since surfaced and been arrested, it is believed that there are still hundreds of illegal miners in the shaft. Police had closed off the mine's entrances and stopped supplies of water and food to the miners. However, the Pretoria High Court has since ruled that the shaft be unblocked by police to allow for food and water to reach the miners.

One body has been retrieved from the mine.

Ramaphosa said this operation formed part of government's nationwide Operation Vala Umgodi crackdown to curb illegal mining activities in the country, which he said cost the economy billions in lost export income, royalties and taxes.

"We need to be clear that the activities of these miners are illegal. They pose a risk to our economy, communities and personal safety. The Stilfontein mine is a crime scene where the offence of illegal mining is being committed. It is standard police practice everywhere to secure a crime scene and to block off escape routes that enable criminals to evade arrest. In doing so, the police must take great care to ensure that lives are not put at risk and that the rights of all people are respected," he said.

Miners who surface from the mine shaft are medically assessed and detained if found to be in good health. Others are transported to the hospital under police guard.

Ramaphosa said government was engaging with mining companies to ensure they carried out their responsibility to close or rehabilitate mines that were not operational.

However, he revealed that police believed that some miners underground were armed, which he suggested was expected, claiming that illegal miners were recruited by gangs involved with organised crime.

"The hazardous nature of illicit and unregulated mining poses considerable risk in terms of the presence of explosives, the inhalation of toxic fumes and the possible collapse of unstable mine shafts. This endangers not only the illegal miners, but also our police and other law enforcement agencies. Because of the many hazards such an operation poses, law enforcement agencies have been negotiating with the illegal miners since the stand-off began to get them to the surface and to safety," Ramaphosa said.

He acknowledged the public debate around the rights of the illegal miners but pointed to documented violence and intimidation meted out by the miners, as well as crimes attributed to some, such as murder, rape and illegal immigration.

He also noted a gas explosion last year, that killed 16 people, in Boksburg, which was linked to illegal mining activities.

Ramaphosa assured that the police will carry out its operations safely at Stilfontein, to ensure low risk of harm to miners and police officers, but noted that the situation was "volatile".

"As a country committed to the rule of law and dedicated to upholding the human rights of all, we will continue to work towards a peaceful resolution of the stand-off at Stilfontein," he stated.

The South African Reserve Bank will cut its repo rate next week as slowing inflation continues to make way for a series of cuts through the middle of next year, spurring growth to almost 2%, a Reuters poll suggested on Friday.

All but two of 22 economists surveyed in the past week said the South African Reserve Bank (SARB) would cut rates by 25 basis points (bps) to 7.75% at its November 21 meeting. Two expected a 50bps cut.

The repo rate is expected to fall again by 50bps in either one move or cumulatively in January and March, followed by a 25bps cut at the May meeting to reach 7.00%.

"We anticipate a second 25bps cut at the November meeting, supported by the dip in September headline inflation, core inflation remaining slightly below the mid-point of the target range, and continued risks for moderate output growth," Dennis Shen, a senior director at Scope Ratings, said.

Inflation is expected to average 4.2% next year before quickening to 4.5% in 2026.

The consumer price index is expected to reach a trough this quarter and average 3.6%, 0.9 percentage points below the Reserve Bank's 3%-6% midpoint comfort level, before quickening back to target later next year.

It was last around this quarter's level in March 2021.

The rand - the currency of Africa's most industrialized nation - has faced a difficult time against a resurgent dollar since elections as investors ponder to what extent President-elect Donald Trump is likely deliver tariffs across the world.

Another Reuters poll predicted the euro zone economy will be hit with tariffs from the incoming US Trump administration early next year, all but ensuring a series of interest rate cuts from the European Central Bank, similar to South Africa.

"The strengthening of the dollar and higher US borrowing rates also mean higher inflation, a greater risk of capital outflows and generally less-accommodative financial conditions for developing economies," Shen said.

Annabel Bishop, chief economist at Investec, wrote that concerns over the degree of tariff protection in the US has worried markets.

Full enactment of the proposals made on Trump's election campaign would lead to slower global growth and weaker demand for commodities, a material staple for economic growth locally.

Traders in financial markets have piled into bets the US Federal Reserve will go ahead with another reduction in borrowing costs at its December 17-18 meeting, despite the strength of its economy and the prospect of quicker inflation there.

Medians in the survey project 75bps of SARB cuts next year, to 7.00%, but the most bullish economist expects an end-2025 rate of 6.00%.

South Africa's economy is expected to grow 1.7% and 1.9% in the next two years. Last month the forecasts were 1.7% and 2.0%.

President Cyril Ramaphosa has appointed a new Presidential Economic Advisory Council (PEAC) as part of the seventh administration's ambition for inclusive, sustainable economic growth and job creation

The Council will provide critical economic advice and support in crafting policies that respond to domestic and global economic challenges.

The PEAC is an independent, non-statutory body that brings together a diverse group of local and international experts from various sectors, including academia, the private sector, labour, and civil society.

The members, appointed for the term of the 7th administration, will volunteer their time to assist the President in shaping the country's economic future.

The council, which will be chaired by Ramaphosa, will focus on promoting economic policies that foster inclusive growth and will draw on expertise across a wide range of economic disciplines, from macroeconomics and fiscal policy to labour economics, poverty, inequality, and urban development. Other areas of expertise include trade, energy, climate change, and the regulation of network industries.

The members of the Presidential Economic Advisory Council are:

Dr Renosi Mokate (Deputy Chairperson): Executive Chair of Concentric Alliance and Chair of the Government Employees Pension Fund.

Dr Antonio Andreoni: Professor of Development Economics at SOAS University of London and Co-Director of the Centre for Sustainable Structural Transformation.

Prof Haroon Bhorat: Professor of Economics and Director of the Development Policy Research Unit at the University of Cape Town.

Dr Kenneth Creamer: Senior Lecturer in the School of Economics and Finance at Wits University, specializing in macroeconomics and the just energy transition.

Prof Esther Duflo: Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics at the Massachusetts Institute of Technology (MIT) and 2019 Nobel Laureate in Economic Sciences.

Prof Vusi Gumede: Dean of the Faculty of Economics, Development, and Business Sciences at the University of Mpumalanga.

Prof Alan Hirsch: Emeritus Professor at the Nelson Mandela School of Public Governance at UCT and founding director of the School.

Ms Mamokete Lijane: Chair at Economic Research South Africa (ERSA) and Strategist in Global Markets at Standard Bank CIB.

Ms Trudi Makhaya: Senior Advisor at the Boston Consulting Group and former Economic Advisor to President Cyril Ramaphosa.

Prof Mariana Mazzucato: Professor in the Economics of Innovation and Public Value at University College London (UCL), Founding Director of the Institute for Innovation & Public Purpose.

Mr Isaah Mhlanga: Chief Economist and Head of Global Markets Research at Rand Merchant Bank (RMB).

Mr Kuben Naidoo: Former Deputy Governor of the South African Reserve Bank (SARB) and Head of Corporate Payment Channels at Investec.

Mr Zeph Nhleko: Chief Economist at the Development Bank of Southern Africa (DBSA).

Prof Dani Rodrik: Ford Foundation Professor of International Political Economy at the Harvard Kennedy School.

Mr Wandile Sihlobo: Chief Economist of the Agricultural Business Chamber of South Africa.

Dr Vera Songwe: Senior Fellow at the Brookings Institution and former Under-Secretary-General of the United Nations.

Prof Fiona Tregenna: DST/NRF South African Research Chair in Industrial Development at the University of Johannesburg.

Prof Imraan Valodia: Dean of the Faculty of Commerce, Law and Management at the University of the Witwatersrand (Wits).

Prof Ingrid Woolard: Dean of the Faculty of Economic and Management Sciences at Stellenbosch University.

Ramaphosa expressed gratitude to the appointees for their willingness to contribute to South Africa's economic development, praising their strategic insight and commitment to tackling the country's most pressing economic challenges. The Council is expected to play an important role in enhancing the capability of the state, which remains one of the government's top priorities for the current administra...

Desperate family members of illegal miners believed to number in the hundreds waited outside a disused mine shaft in South Africa on Friday in the hope of their loved ones emerging from the hole in the ground.

The miners are in a standoff with police, who have blocked their supplies of food and water and are trying to force them out to arrest them for illegally entering the abandoned mine in search of leftover gold - a common problem in South Africa.

More than 1 000 illegal miners have already resurfaced in recent weeks as the police have cracked down, and at least one dead body has been brought up.

It was unclear if those remaining in the mine in Stilfontein, North West province, were unwilling or unable to get out of the shaft, which descends vertically for more than 2 km underground.

Police and community members stood around the rocky entrance, where a pulley had been set up to hoist men out.

"I'm here waiting for young people who are underground, who are dying," Zimbabwean national Roselina Nyuzeya told Reuters from behind the police barricade blocking access to the gaping hole.

A woman crying nearby was waiting for her husband, who had been underground since April, Nyuzeya said.

Illegal mining has plagued South Africa for decades through small-time pilfering and organised criminal networks. Many of those who do the risky work of breaking into old industrial mines are immigrants from neighbouring countries.

They are referred to as zama-zamas - a local term that comes from the Zulu expression for "taking a chance".

Minister in the Presidency Khumbudzo Ntshavheni said on Wednesday the government would not send help for criminals but instead would "smoke them out".

Some community members held signs that read "Smoke ANC out" in response, referring to the governing African National Congress party.

"We are asking for help from the government to assist us so our children can come out of the mine. All we are asking for is their remains to come out," said Matsidiso Ramolla, a 41-one-year-old resident of Stilfontein.

The Democratic Alliance (DA) has submitted the first batch of over 200 000 signatures, on its petition against Eskom's proposed 40% price hike, to the National Energy Regulator of South Africa (Nersa), describing it as a powerful call from South Africans for urgent action on the ongoing energy crisis.

The DA protested outside Nersa's offices in Pretoria, on Thursday. Party spokesperson on energy and electricity Kevin Mileham explained that the petition signalled the "frustration and fatigue" of South Africans facing the economic and social impacts of high electricity prices, a cost-of-living crisis, a recent history of loadshedding and unreliable power supply in hundreds of municipalities.

Mileham highlighted that the party had been inundated with residents opposing "the ridiculous tariff hike".

He pointed out that the DA's petition amplified the voices of citizens who were demanding accountability and transparency from Nersa to reject Eskom's application for an effective 40% price hike next year.

"It is now up to Nersa to heed this call and take decisive action to prioritise the needs of the people over continued failures," he said.

The party urged the public to participate in Nersa's public hearings on the electricity tariff hike application from Eskom.

Mileham said his party remained committed to fighting for "sustainable, reliable, and affordable energy solutions that will support our economy and society".

Last month, the DA urged State power utility Eskom to withdraw what it termed a "futile and costly legal dispute" of Nersa's issuance of four new electricity trading licences and to support the transformation of South Africa's energy sector.

South African police were in a standoff on Thursday with hundreds of illegal miners believed to be underground in a disused shaft, a day after a cabinet minister said the government was trying to "smoke them out".

Police have been trying for weeks to empty the abandoned gold mine in the North West province as part of a crackdown on illegal mining, which has plagued South Africa for decades through small-time pilfering and organised criminal networks.

More than 1 000 illegal miners resurfaced after police cut off their food and water supplies, but a police spokesperson said hundreds more could still be underground.

A decomposed body was brought up on Thursday, with pathologists on the scene, spokesperson Athlenda Mathe said.

On Wednesday, asked whether the government would send help to the zama-zamas - a local term for illegal miners from the Zulu expression for "taking a chance" - Minister in the Presidency Khumbudzo Ntshavheni said: "We are not sending help to criminals. We are going to smoke them out."

Senior police and defence officials are expected to visit the area on Friday to "reinforce the government's commitment to bringing this operation to a safe and lawful conclusion", according to a media advisory from the police.

Illegal gold mining costs South Africa's government and industry hundreds of millions of dollars annually in lost sales, taxes and royalties, according to an estimate by a mining industry body.