News 06:00

BULLETIN 9 July 6 am

Good morning. I am……..

In this bulletin:

# The Treasury launches a probe into transversal contracts
# The Joburg mayor says financial controls are improving
# And rugby: The Sharks’ Kai Pratt tests positive for an anabolic steroid

# National Treasury has launched a forensic investigation into allegations of improper conduct involving a former senior employee. This follows evidence at the Madlanga Commission that former procurement officer Molefe Fani improperly influenced the awarding of multi-billion-rand transversal contracts. Transversal contracts are large procurement agreements managed by the Office of the Chief Procurement Officer on behalf of multiple government departments. Treasury says the investigation will test the veracity of the allegations made and, importantly, determine any measures needed to further strengthen the procurement and award processes within the transversal contracting system. 

# The Department of Health says it has successfully completed this year’s midyear medical internship and community service placement cycle, with all eligible South African citizens and permanent residents placed in funded posts. More than 600 healthcare professionals have been allocated to facilities nationwide. The department’s Foster Mohale says 77 applicants declined their placements, many citing an unwillingness to work in rural and underserved communities:

# The Financial Sector Conduct Authority has published the names of 16-thousand-556 employers that have defaulted on retirement fund contributions. This affects about 590-thousand members and leaving 8.33-billion-rand unpaid. FSCA spokesperson Keabetswe Tsuene says the move is aimed at improving transparency, protecting retirement fund members, and encouraging employers to comply with the law. The regulator says it will continue working with law enforcement and other state agencies to recover outstanding contributions and hold defaulting employers accountable.

# Johannesburg mayor Dada Morero says financial controls are improving despite mounting debt and service delivery pressures. National Treasury has temporarily withheld 13.5-billion-rand in equitable share allocations intended for 69 municipalities nationwide, including 3.6-billion-rand earmarked for Johannesburg. This is aimed at instilling fiscal discipline and forcing municipalities to deal with unauthorised, irregular, fruitless, and wasteful expenditure. Morero says the metro’s relationship with Treasury is yielding positive results:

# Build One South Africa says Zimbabwe’s new Constitution Amendment Act is a power grab that threatens democracy by expanding presidential powers and weakening independent institutions. The party has called on the South African government, the Southern African Development Community, and the African Union to speak out against the changes. BOSA leader Mmusi Maimane says the changes entrench Zanu-PF’s rule and threaten constitutional governance and the rule of law in Zimbabwe.

# Rugby: The Sharks’ Junior Springbok prop, Kai Pratt, chose to have his B sample tested after testing positive for an anabolic steroid. The South African Institute for Drug-free Sport confirmed the positive outcome. Pratt recently withdrew from the South African Under-20 team due to injury. He was tested in April, shortly before the start of the Under-20 Championship in Gqeberha. Sport24 reports that a date still has to be set for the rest of the process, while Pratt hasn’t decided if he would contest the allegation.

# And the financial indicators: The dollar trades at 16-rand-39-cents and the euro at 18-rand-73-cents. One British pound costs 21-rand-95-cents and Bitcoin trades at 62-thousand-219-dollars. Gold sells at four-thousand-76-dollars-71-cents a fine ounce and Brent crude oil is quoted at 78-dollars-62-cents a barrel.

Stay tuned for more news………….