News 16:00

BULLETIN 4 March 4 pm

Good afternoon. I am……..

In this bulletin:

# The DA calls for an immediate probe into alleged cash bribes by speaker Mapisa-Nqakula 
# An economic fallout is feared as a minibus financier grapples with a debt crisis 
# And soccer: The countdown is on to the Bayhill Premier Cup tournament in Cape Town

# The DA has called for an immediate probe into alleged cash bribes by the speaker of the National Assembly, Nosiviwe Mapisa-Nqakula. She is implicated in an affidavit that forms part of a corruption case against a Defence Force contractor, who claims Mapisa-Nqakula solicited more than two-million-rand in bribes during her tenure as Defence minister. Mapisa-Nqakula maintains her innocence and vows to cooperate with the investigation. DA chief whip Siviwe Gwarube confirmed that the party will file a complaint to the Ethics Committee:

# The minibus financier, SA Taxi, is facing a colossal 16.7-billion-rand debt burden, sparking concerns over the broader implications for the financial sector. According to News24 analysts warn of severe social and economic consequences if SA Taxi fails. The company is a crucial player in the minibus taxi sector and is in urgent talks to restructure 5.3-billion-rand on-balance and 11.4-billion-rand off-balance by June. Several asset managers – including Futuregrowth, Vunani Fund Managers and Ninety One, have debt instruments linked to the minibus taxi financing sector.

# The relationship between South Africa’s major publishers and Google has soured, potentially leading to conflict amidst the Competition Commission’s Media and Digital Platforms Market Inquiry. Google’s contentious negotiation stance has sparked backlash, with publishers requesting disclosure of its local operations and revenue from news content aggregation. Google’s refusal has intensified tension, and shifted focus to the Commission’s hearings, and the impact of digital platforms on media and competition. Similar global battles highlight the value of news content and the need for fair compensation.

# Soccer: The City of Cape Town says preparations are well underway for the Bayhill Premier Cup tournament. The under-19 tournament will start at the Erica Park sports field in Belhar on the 27th of this month. The final will be played at the Athlone Stadium. Mayoral committee member for Community Services and Health, Patricia van der Ross, says the tournament will have eight groups of four teams, with the top two in each group moving on to the round of 16, before the quarterfinals, semifinals and then the final:

# The financial indicators: The dollar trades at 19-rand-6-cents and the euro at 20-rand-69-cents. One British pound costs 24-rand-17-cents and Bitcoin trades at 65-thousand-95-dollars-20-cents. Gold sells at two-thousand-and-82-dollars-61-cents a fine ounce and Brent crude oil is quoted at 82-dollars-94-cents a barrel.

# And finally: From 2050, Africa will suffer from food and water scarcity, and job losses in agriculture, unless climate change mitigation is put in place. This is according to a study by the University of the Witwatersrand. The study has found that if climate change continues on its current trend, crop production in Africa will decline by 2.9-percent in 2030 and by 18-percent by 2050. Author Philip Kofi Adom says governments have to foster the change required by supporting private initiatives in climate adaptation and mitigation.

Stay tuned for more news………….