News 18:00

BULLETIN 20 March 6 pm

Good afternoon. I am……..

In this bulletin:

# The Financial Sector Conduct Authority issues Markus Joose with a 475-million-rand fine
# Load-shedding will be suspended from early tomorrow morning
# And rugby: The inaugural SA Cup gets the local provincial season underway

# The Financial Sector Conduct Authority has penalised Markus Jooste with a 475-million-rand fine over fraudulent Steinhoff financial statements. FSCA commissioner Unathi Kamlana revealed the former Steinhoff CEO, and chief financial official Dirk Schreiber, concealed true financial information from investors. Kamlana says the duo’s actions to conceal information of the former Johannesburg Stock exchange-listed company misled investors. In addition to the fine, Jooste must pay 10-million-rand in investigative costs within 30 days.

# President Cyril Ramaphosa praised black industrialists for overcoming challenges and contributing significantly to the nation’s economic growth. The president was speaking at the Black Industrialists Conference in Sandton, Johannesburg. He celebrated their hard work, resilience, and innovation, highlighting their role as agents of change in driving social and economic transformation in communities. Ramaphosa emphasises industrialists’ excellence across various sectors, showcasing Africa’s untapped potential and ingenuity:

# 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:

# Eskom will suspend load-shedding from five tomorrow morning until further notice. This decision is attributed to lower demand expected until the weekend, coupled with an increase in available generation capacity. Eskom plans to bring three-thousand-850 megawatts of generating capacity back online by Monday evening. Any significant changes will be communicated in due course.

# Rugby: The inaugural SA Cup will get underway tomorrow with an exciting clash between Griquas and the Leopards in Kimberley. On Friday, last year’s Currie Cup Premier and First Division champions, the Cheetahs and the Boland Kavaliers, will collide in Bloemfontein. The new competition will involve ten provincial teams, excluding those with a United Rugby Championship team. They will compete against each other over a period of nine consecutive weeks, with a total of 46 matches staged during the new competition.

# And the financial indicators: The dollar trades at 18-rand-81-cents and the euro at 20-rand-41-cents. One British pound costs 23-rand-90-cents and Bitcoin trades at 64-thousand-77-dollars-84-cents. Gold sells at two-thousand-159-dollars-11-cents a fine ounce and Brent crude oil is quoted at 86-dollars-21-cents a barrel.

Stay tuned for more news………….