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Hex River Substation to come online by month end 

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Hex River Substation to come online by month end 

Eskom’s Battery Energy Storage System is scheduled to come online in the Breede Valley by the end of this month.. The substation will operate at the Hex Substation near Worcester. The Hex River Power Station was originally built by Eskom to provide power for 314km along the main railway line between Bellville and Tows River, and later a further 288km to Beaufort West.

Will cost government R9billion to recruit more trained professional social workers

Government says it will cost the state more than R9-billion to recruit more trained professional social workers in the country. It says its aim is to employ about 55 000 social workers by 2030. The Social Development Minister, Lindiwe Zulu said in the last financial year alone, about 22 000 social workers were recruited in the work force of government.

Increase in mental health claims- Investec 

Investec Life says it has seen an increase in mental health claims.
This was spotted while the company started reviewing the underwriting of mental illnesses.
They have found that many wealthier clients are more likely to be diagnosed earlier because they have access to comprehensive medical care.
Investec says it is now working with international companies to change this and ensure that everyone is benefitted.

SA inflation up for two years 

South African inflation expectations rose for the next two years.
This is according to a survey conducted by the Stellenbosch-based Bureau for Economic Research.
Average inflation expectations for the year increased to six-point-five percent in the second quarter from six-point-three percent previously.
Fin24 reports the survey results influence decision-making by the South African Reserve Bank’s monetary policy committee.

People who retired early in the UK affected financially since the Covid pandemic 

People in the UK over 50 who left work during the pandemic have had to cut back on their weekly food shop by an average of £60 a week.
The Institute for Fiscal Studies (IFS) said 48% who retired in 2020-21 were now living in relative poverty.
It said those who left the workforce at that time were “much poorer” compared with people retiring a year later. The IFS found they were less likely to receive a pension and had lower levels of well-being than others who are retired.

Written by: Keenan Williams

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todayJuly 5, 2023 45


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