News 15:00

BULLETIN 13 November 3 pm

Good afternoon. I am……..

In this bulletin:

# An international law firm says South Africa remains attractive to foreign investors
# Remittances can boost Africa’s financial inclusion and economic growth
# And the four accused in the attack on North West farmer Donovan Marx abandon bail

# International law firm Baker McKenzie says South Africa offers foreign investors fewer ownership restrictions than many resource-rich countries. In a report covering 20 countries, the firm highlights opportunities in critical minerals, energy and infrastructure. However, it’s partner for Energy and Infrastructure in Johannesburg, Ryan Alho, says attracting investment will depend on reliable electricity, efficient logistics, affordable power and regulatory stability. He called on South Africa to prioritise local manufacturing, job creation and greater value addition to its mineral resources.

# Money sent home by Africans living and working abroad is becoming an increasingly important source of funding for the continent. Africa received 124.2-billion-dollars in remittances last year, exceeding the amounts received through foreign aid and foreign investment. Meera Sunker, who heads the team responsible for immediate payment transactions at PayInc, says mobile money operators and more affordable cross-border payments could unlock further economic opportunities. She says reducing the cost of sending money and making digital transactions easier could boost financial inclusion and investment across Africa:

# Western Cape Social Development MEC Wendy Kaizer-Philander has expressed concern about the 147.2-million-rand allocated to fill 228 vacancies at social security agency SASSA, which remains unspent. A written parliamentary reply by national minister Dina Pula revealed 84 vacancies at SASSA’s regional and head offices and a further 144 at local and district offices. Kaizer-Philander says this comes as residents continue to face long queues and delays when accessing social grant services:

# Four men accused of the brutal attack on North West cattle farmer Donovan Marx have abandoned their bail applications in the Ventersdorp Magistrate’s Court. The case was postponed to February 15 for the state to obtain ballistic reports. The accused include a former employee of Marx. The farmer was shot, stabbed and had both his ears cut off last month. The four face charges including attempted murder, robbery with aggravating circumstances, assault and unlawful possession of firearms and ammunition. Marx was discharged from hospital yesterday.

# Soccer: America’s Argentinian coach, Mauricio Pochettino, is expected to become Manchester United’s next manager after the dismissal of Michael Carrick. This followed the English club’s worst-ever start to a Premier League campaign, where they earned just eight points from their first ten games, leaving them in the relegation zone. Carrick, a former captain, led United to a third-place finish last season. Fifty-four-year-old Pochettino joined the US national team in 2024 after coaching stints with teams such as Tottenham Hotspur, Paris Saint-Germain and Chelsea.

# And the financial indicators: The dollar trades at 16-rand-90-cents and the euro at 18-rand-67-cents. One British pound costs 22-rand-35-cents and Bitcoin trades at 69-thousand-330-dollars. Gold sells at three-thousand-892-dollars-88-cents a fine ounce and Brent crude oil is quoted at 98-dollars-2-sents a barrel.

Stay tuned for more news………….