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

Making headlines: South African key rate lowered at first decision under new inflation target; Malusi Gigaba says stepping aside does not imply guilt on his side; And, DA protest outside Lesufi's office demanding accountability for Tembisa Hospital

South African key rate lowered at first decision under new inflation target

South Africa's central bank cut its main lending rate by 25 basis points to 6.75% today at the first meeting since its inflation target was lowered, easing concerns that the new target would prevent it from cutting rates.

The decision by members of the bank's Monetary Policy Committee was unanimous.

Governor Lesetja Kganyago told a news conference that members agreed there was scope now to make the policy stance less restrictive, in the context of an improved inflation outlook.

The bank made small downward revisions to its inflation forecasts for 2025 and 2026.

Kganyago said South Africa is on track to deliver 3% inflation over the medium term.

Malusi Gigaba says stepping aside does not imply guilt on his side

African National Congress MP Malusi Gigaba said today that the party’s step-aside principle does not imply guilt on his side, stating that there is no indictment and claiming no evidence of wrongdoing in the Investigating Directorate Against Corruption matter.

On Tuesday, the IDAC formally added Gigaba as the fifth accused in a corruption case involving former Transnet executives, at the Palm Ridge Specialised Commercial Crime Court.

The charges relate to Gigaba’s tenure as Minister in the Department of Public Enterprises between November 2010 and May 2014,

The matter was postponed to January 30, 2026, for the disclosure of the docket, as well as the provision of an indictment, and a date for the transfer of the case to the High Court.

Yesterday, the ANC said in a statement that Gigaba voluntarily stepped aside from his responsibilities following his recent court appearance.

And, DA protest outside Lesufi's office demanding accountability for Tembisa Hospital

The Democratic Alliance today led a demonstration outside the office of Gauteng Premier Panyaza Lesufi, to hand over a memorandum that calls for a return of looted money to the hospital, as well as arrests of those implicated in the scandal.

In September, the Special Investigating Unit released a report on the Tembisa Hospital investigation, in which it revealed that there had been devastating plunder of the public purse, uncovering three coordinated syndicates responsible for the looting of over R2-billion.

The DA wants Lesufi’s office to demand criminal charges against those implicated in the looting at Tembisa Hospital, as well as a process to quickly sell off assets of the syndicate kingpins’ and the money returned to the hospital.

DA Gauteng Shadow Health MEC Jack Bloom handed over the memorandum, which also calls for justice for whistleblower Babita Deokaran.

That’s a roundup of news making headlines today

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