News 11:00

BULLETIN 5 August 11 am

Good morning. I am……..

In this bulletin:

# Treasury says South Africa is on track to deliver on its fiscal strategy despite geopolitical tensions
# Donald Trump says the Strait of Hormuz will be reopened soon, or Iran will be hit very hard
# And rugby: Rassie says Argentina will provide the ideal test for returning players

# National Treasury director-general Duncan Pieterse says geopolitical tensions have made it more challenging to deliver on South Africa’s fiscal targets, while ensuring that critical social spending is protected. The fiscal strategy has been anchored by stabilising the debt-to-gross domestic product ratio in the 2025/26 fiscal year and then reducing it. Pieterse says despite the geopolitical upheavals, the country is on track to deliver on its fiscal strategy. He adds fiscal credibility must be combined with the reforms required to support higher economic growth, investment and faster job creation.

# Auditor-General Tsakani Maluleke has warned that weak planning, poor procurement and lack of accountability are crippling infrastructure delivery, with water losses exposing failing systems. The 2024-2025 consolidated general report on the national and provincial audit outcomes revealed 109 of 152 infrastructure projects audited, experienced delays. Maluleke says across 257 municipalities, neglected maintenance and weak oversight are driving financial decline, leaving citizens without basic services:

# The Cape Independence Advocacy Group has welcomed Cape Town mayor Geordin Hill-Lewis’s decision to formally declare an intergovernmental dispute with acting minister of Police, Firoz Cachalia. He wants Cape Town’s Metro Police and Law Enforcement officials to have legal authority to investigate crimes and build prosecution-ready dockets. The group’s leader, Phil Craig, says this step is long overdue, as the metro has been raising this issue since 2022:

Moving abroad:

# US president Donald Trump says the Strait of Hormuz will be reopened very soon, or he will have no other choice but to launch a harsh new attack on Iran. Tehran has denied it is holding direct discussions with Washington and has emphasised it is working with Oman on an arrangement to reopen the strait. The closure of the critical waterway has plunged the global energy market into turmoil. Trump says his first choice was not renewing attacks but instead pursuing a diplomatic agreement with Iran.

# Rugby: Springbok coach Rassie Erasmus says Saturday’s one-off Test against Argentina will offer the perfect opportunity for several returning players to rediscover their match sharpness. Siya Kolisi, Eben Etzebeth, Lood de Jager and Sacha Feinberg-Mngomezulu will start against Los Pumas after injuries kept them out of the start of the season. Returning Morné van den Berg is on the bench. Erasmus says facing a physical Argentina side is the best way to assess the players’ progress:

# And the financial indicators: The dollar trades at 16-rand-35-cents and the euro at 18-rand-87-cents. One British pound costs 22-rand-1-cent and Bitcoin trades at 64-thousand-166-dollars. Gold sells at four-thousand-172-dollars-12-cents a fine ounce and Brent crude oil is quoted at 82-dollars-94-cents a barrel.

Stay tuned for more news………….