No-Confidence Votes Fall Flat; Discovery Defers Tariff Increases to October

LOCAL NEWS

• DA fails to get Ramaphosa’s Cabinet sacked with the no-confidence vote seeing 231 against vs 131 for. The no-confidence vote in Ramaphosa was also delayed with the ATM party withdrawing the motion due to its desires to have it held by secret ballot rather than roll call voting.
  • DA’s Steenhuisen slammed the ANC for acting with no consequences and failing to protect SA livelihoods & citizens. - TimesLive
• Discovery defers its medical aid increases for a third time with the rise now being implemented in October. The 7.9% increase set for May now sees a 5-month delay in order to give clients financial relief in a time of high inflation to ensure short-term affordability. – MoneyWeb
• Unemployment Insurance Fund is currently paying out R2.2bn more than it collects with benefit payments exceeding contributions.
  • While the fund was still in surplus as of December 2021, the change in trend for payments vs contributions represents a threat to the long-term stability of the fund, which provides short-term financial support to those who lose their jobs or cannot work – BusinessDay
• ICASA makes an appeal to Telkom to drop its legal challenge against the R14bn spectrum auction in an unusual move that casts doubt on the regulator’s defence of the case. The release of spectrum is set to boost SA’s telecommunications capacity – especially in rural areas and is a key growth point for the country. – BusinessDay