News 14:00

BULLETIN 26 June 2 pm

Good afternoon. I am……..

In this bulletin:

# Seifsa says Tuesday’s shutdown is not protected
# African Bank reports a loss as bad debt rises
# And soccer: Williams says Broos deserves a statue after Bafana’s historic qualification at the World Cup

# The Steel and Engineering Industries Federation of Southern Africa says Tuesday’s planned national shutdown by anti-illegal-immigration group March-and-March is not protected under the Labour Relations Act. Seifsa says employees who participate may face consequences, including disciplinary action and no-work, no-pay measures. Labour federations have urged workers to report for duty. Employers are advised to prepare for possible disruptions, transport challenges and security risks linked to the planned protest action.

Meanwhile, the Department of Home Affairs says most foreign nationals living illegally in South Africa entered the country legally and not through porous borders. Chief director Sihle Mthiyane says the majority arrived legally through official ports of entry but later overstayed after their visas or permits expired. He adds the department continues to strengthen monitoring systems and enforcement measures to address illegal immigration and improve compliance:

# A forensic investigation has recommended that Tshwane city manager Johann Mettler institute disciplinary action against suspended chief financial official Gareth Mnisi. The report alleges Mnisi breached the municipal code of conduct by failing to declare company directorships and disclose his relationship with construction firm Ngaphesheya during two tender processes. It also recommends disciplinary action against suspended Tshwane Metro Police Department deputy commissioner, Umashi Dlamini, for allegedly breaching confidentiality by sharing a company invoice from Gubi 585 Solutions with suspended Organised Crime sergeant Fannie Nkosi. 

# African Bank has reported a net after-tax loss of 624-million-rand for the six months ended on March 31, as rising bad debt weighed heavily on earnings. Credit losses increased to 1.8-billion-rand from 1.2-billion-rand in the previous period. Interim CEO Zweli Manyathi says the results reflect a difficult operating environment. He says the bank has tightened its credit risk strategy after default levels exceeded expectations, and has introduced a new scorecard while significantly reducing lending volumes.

# Soccer: Bafana Bafana captain and goalkeeper Ronwen Williams says coach Hugo Broos deserves a statue after historically leading South Africa to the World Cup knockout stages for the first time. South Africa finished second in Group A and will face co-hosts Canada in the round of 32. Williams praised Broos for believing in the team:

# And the financial indicators: The dollar trades at 16-rand-43-cents and the euro at 18-rand-74-cents. One British pound costs 21-rand-72-cents and Bitcoin trades at 59-thousand-703-dollars. Gold sells at four-thousand-and-52-dollars-63-cents a fine ounce and Brent crude oil is quoted at 72-dollars-70-cents a barrel.

Stay tuned for more news………….