For Creamer Media in Johannesburg, I’m Thabi Shomolekae.

Making headlines: Parliament’s defence committee wants answers on SANDF deaths in DRC; Parks Tau says no new tax planned for black-owned firms fund; And, Ghana central bank holds policy rate for second meeting in a row

Parliament’s defence committee wants answers on SANDF deaths in DRC

While expressing sadness at the deaths of nine South African National Defence Force soldiers in a battle in the east of the Democratic Republic of Congo, Parliament’s Joint Standing Committee on Defence has announced that it will urgently schedule a full briefing on the combat as well as the status of the SANDF deployment in the DRC.

According to other reports, as many as 24 other SANDF soldiers were wounded in the same fighting, which was near the city of Goma.

Committee Co-Chairperson Malusi Gigaba explained that while the committee acknowledged the gallant resistance by the country’s forces, the loss of nine members of the SANDF is serious and required investigation to prevent recurrence.

Gigaba highlighted that some of the issues that must be looked into include the combat preparedness, defence intelligence capabilities and the specific availability of combat support equipment including air support and ammunition.

Parks Tau says no new tax planned for black-owned firms fund

South Africa is still discussing whether to set up a new fund to promote Black-owned businesses, and suggestions that new taxes will be imposed to capitalise it are unfounded, trade and industry minister Parks Tau said.

Policies aimed at racially transforming South Africa and their implementation are being comprehensively reviewed, and “the fund is a component of an overarching conversation,” said Tau.

He explained that the establishment of the fund is still at a conceptual stage, and will still have to be mapped out and pass through relevant government channels.

Last week, the Democratic Alliance said the trade department wanted to channel money to a R100-billion diversity fund to boost Black-owned businesses that would be raised by imposing new taxes on existing firms.

Tau pointed out that the transformation fund is not intended to be a new source of revenue, as alleged, by introducing an additional tax.

And, Ghana central bank holds policy rate for second meeting in a row

Ghana's central bank kept its main interest rate at 27.00% for the second meeting in a row today, after inflation rose last month.

The West African gold and cocoa producer, which defaulted on most of its external borrowing in December 2022, is emerging from its worst economic crisis in a generation, helped by a $3-billion loan programme from the International Monetary Fund.

Bank of Ghana Governor Ernest Addison told reporters that the inflation profile remained elevated, "largely driven by food prices movement especially in the last quarter of the year."

Ghana's consumer inflation rose in December to 23.8% in annual terms, the highest rate in eight months. It remains well above the central bank's 8% target with a margin of error of 2 percentage points either side.

That’s a roundup of news making headlines today

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