News 15:00

BULLETIN 22 March 3 pm

Good afternoon. I am……..

In this bulletin:

# The Hawks and the National Prosecuting Authority confirm warrants of arrest in the Steinhoff case
# A court grants 33-million-rand forfeiture orders in the Eskom corruption case 
# And rugby: The Sharks are ready for a season-changer against Ulster 

# The Hawks and the National Prosecuting Authority confirmed the arrest warrants for Markus Jooste and Stephanus Johannes Grobler in connection with the Steinhoff scandal. These warrants, issued on Wednesday, allege fraud, racketeering, and contravention of the Financial Markets Act related to Steinhoff International Holdings. Grobler appeared in court this morning, while Jooste took his own life yesterday after being informed of the warrants. To prevent the suspects from fleeing, exit routes were secured before informing the defence about the arrest warrants.

# The High Court in Pretoria has granted two final forfeiture orders valued at 33-million-rand following alleged corruption at Eskom’s Kusile power station. The assets, including properties, land and vehicles, are linked to former Eskom employees and companies, including Tamukelo Air Vendor, implicated in unlawful activities between 2012 and 2018.  The National Prosecuting Authority’s Gauteng spokesperson, Lumka Mahanjana, says the move is part of the Asset Forfeiture Unit’s strategy to recover proceeds of corruption: 

# Cosatu says the private sector needs to play its part in how workers in the country are treated. It says the CEOs of the mining, financial and retail giants earn hundreds of thousands daily, yet mineworkers, bank tellers and cashiers will be lucky to earn that in a year. The federation says the state will never have enough resources to grow the economy and reduce unemployment. Cosatu’s Matthew Parks says the private sector must show greater commitment to investing in and supporting local businesses and products:

# Rugby: The Sharks host Ulster in Durban in a United Rugby Championship clash tomorrow that’s shaping up to be a season-changer for the home side. Lukhanyo Am leads the Sharks against the Irish giants. Rugby World Cup winning prop Vincent Koch is set to make his debut for the Sharks off the bench where he joins Ox Nché. SA Rugby Player of the Year Eben Etzebeth partners with Gerbrandt Grobler in the second row. Curwin Bosch and Francois Venter is expected to make an impact off the bench.

# The financial indicators: The dollar trades at 19-rand-2-cents and the euro at 20-rand-59-cents. One British pound costs 23-rand-94-cents and Bitcoin trades at 64-thousand-810-dollars-64-cents. Gold sells at two-thousand-167-dollars-49-cents a fine ounce and Brent crude oil is quoted at 85-dollars-80-cents a barrel.

# And finally: Retailers in South Africa have sharply increased Easter egg prices, prompting some consumers to prioritise essential goods. The cost of a box of 36 Beacon chocolate marshmallow eggs has surged by up to 30-rand in three years. High interest rates, cost of living issues, and climate change are cited as causes. According to Massmart’s consumer study, consumers are shifting towards buying household essentials instead of indulging in chocolate treats during Easter. Climate change is also blamed for cocoa crop challenges, affecting chocolate production.

Stay tuned for more news………….