News 17:00
BULLETIN 20 March 5 pm
Good afternoon. I am……..
In this bulletin:
# FNB confirms the freezing of outgoing payments from Jacob Zuma’s accounts
# President Cyril Ramaphosa highlights the historical challenges faced by black industrialists despite progress
# And rugby: Western Province completes an equity deal with the Red Disa consortium
# FNB says it has frozen outgoing payments from former president Jacob Zuma’s accounts following a court order issued by the High Court in Pietermaritzburg. While outgoing payments are on hold, incoming payments remain unaffected. News24 reports this action stems from the VBS Mutual Bank liquidation process, which involved nearly two-billion-rand being siphoned off due to fraud. Previously, FNB had issued a notice to terminate Zuma’s accounts, where proceeds from a 7.8-million-rand VBS loan were deposited. VBS Bank was placed under curatorship in 2018 due to fraud and looting of deposits.
# President Cyril Ramaphosa has acknowledged persisting challenges for black industrialists despite advancements. Speaking at the Black Industrialists Conference at the Sandton Convention Centre in Johannesburg, he noted its alignment with the 20th anniversary of the Broad-based Black Economic Empowerment Act and the 30th anniversary of democracy. Ramaphosa emphasised the imperative of redressing historical discrimination against black South Africans, underscoring the ongoing journey toward empowerment and equality in the country’s industrial sector:
# Congress of the People says the preparation for its election manifesto for the upcoming national and provincial elections are progressing. Party leader Mosiuoa Lekota will launch the manifesto at the Suurman Community Hall in Hammanskraal, Tshwane, tomorrow. Acting secretary-general, Erick Mohlapamaswi, says the manifesto will be centred around many challenges facing the country caused by over 15 years of mismanagement, misrule, and poor leadership by the present elites:
# KwaZulu-Natal police are questioning a man in connection with the disappearance of well-known Sodwana Bay skipper John Matambu. He disappeared this weekend after taking an unknown man out on his ski boat, Magnum Too, which was found burnt-out on a Mocambican beach later. The man apparently chartered the boat with a terminal illness claim. Police say a person of interest was taken in. The man is reportedly from Komatipoort. Earlier it was reported Interpol and Mozambican police joined efforts to locate Matambu.
# Rugby: The Red Disa consortium has gained controlling shareholding of Western Province. The union announced it has concluded its equity deal with the consortium, consisting of investment holding company Fynbos, Ardagh Glass Packaging, and Marble Head Investments. Sport24 reports the deal entails an initial injection of 148-million-rand into the union’s coffers. Province’s South African Rugby Union-appointed administrator, Peter Jooste, believes the deal will ensure the union’s future strength. Stormers coach John Dobson says they are looking forward to a new chapter.
# And the financial indicators: The dollar trades at 18-rand-86-cents and the euro at 20-rand-45-cents. One British pound costs 23-rand-93-cents and Bitcoin trades at 63-thousand-391-dollars-59-cents. Gold sells at two-thousand-152-dollars-98-cents a fine ounce and Brent crude oil is quoted at 86-dollars-30-cents a barrel.
Stay tuned for more news………….