Former Power Utility CEO Lands New Job at Yale University
Former Eskom CEO Andre de Ruyter has secured a new position at Yale University in the U.S., following his departure from the troubled power utility, reports TimesLive. At Yale, he will be teaching courses on subjects like renewable energy. De Ruyter had previously highlighted the impact of corruption on Eskom, estimating that around R1 billion per month was being lost. Eskom has responded by cancelling coal supply agreements and construction contracts worth billions of rands in an effort to combat corruption.
Treasury Warns of Fiscal Challenges, Announces Budget Cuts
The South African Treasury has informed all government departments that they will face budget cuts across the board in 2024, and no new spending will be allocated, reports News24. This is due to the government's fiscal challenges, which include lower-than-expected growth, falling revenue, and a rising cost of borrowing. The cuts will affect all government departments, including education and health. The Treasury is working to find savings in the budget process, but some of this work will only have an impact in the medium term.
63-Year-Old Woman Arrested at Cape Town Airport for Smuggling Heroin
A 63-year-old woman was arrested at Cape Town International Airport for attempting to smuggle 3.5kg of heroin from South Africa to Europe, reports News24. The arrest was made by a collaborative effort involving the Hawks Narcotics Enforcement Bureau team, the Border Policing Unit, and Gauteng Crime Intelligence, just before she could board an Ethiopian Airlines flight. The value of the seized drugs is estimated at R1.6 million. Acting on a tip, law enforcement intercepted the suspected drug courier, discovering the heroin in her luggage before she could check-in. The woman is scheduled to appear in the Bellville Magistrate's Court on Monday to face charges related to drug dealing.
Student Financial Aid Scheme Cuts Funding for 45K Students Over Direct Payment Dispute
The National Student Financial Aid Scheme (NSFAS), backed by the Department of Higher Education, has defunded 45,927 students nationwide, including those who provided false information during their financial aid applications, reports TimesLive. Designed to aid underprivileged students, NSFAS introduced a controversial direct payment system for allowances, resulting in protests and disruptions at various universities due to excessive bank charges and delays. While some universities reported successful allowance distributions, others faced challenges, prompting protests and online learning implementations. NSFAS says it is not aware of all of the complaints from students and will investigate.
