News 17:00

BULLETIN 11 April 5 pm

Good afternoon. I am……..

In this bulletin:

# An ANC councillor is elected as the new mayor of Ekurhuleni 
# Ratings Afrika points to the financial woes at South Africa’s municipalities due to weak governance
# And tennis: Nadal hopes to be fit for the Barcelona Open

# ANC councillor Nkosindiphile Xhakaza has clinched the position of Ekurhuleni mayor in Gauteng. Despite initial delays in the council meeting, Xhakaza’s unopposed election swiftly resolved the leadership vacuum. The municipality faced recent controversies over financial statements, sparring with the Auditor-General. This follows the removal of former mayor Sivuyile Ngodwana in a vote of no confidence. Premier Payanza Lesufi says continual political disputes within the metro resulted in numerous delays in electing a successor for Ngodwana:

Meanwhile, Ratings Afrika’s recent report has shed some light on the financial struggles faced by South Africa’s municipalities, attributing these challenges to weak governance. The report underscores the persistent issues surrounding financial sustainability, which in turn lead to inadequate service delivery for a significant portion of the population. The organisation’s analyst Leon Claassen raised concerns about the potential for certain municipalities to become dysfunctional if these issues are not addressed effectively:

# Minister of Higher Education, Science and Innovation, Blade Nzimande, has voiced concern over delayed student allowance payments by the National Student Financial Aid Scheme. To tackle this issue, Nzimande has instructed the scheme to form a dedicated task team, supported by the department, to visit institutions facing serious payment-related issues. He confirms payments for university and TVET college students have been disbursed based on valid registration records received by March 15. Nzimande is taking steps to address compliance issues and ensure timely payments, reassuring students of ongoing support efforts.

# Vietnamese property tycoon, Truong My Lan, has been sentenced to death for looting 235-billion-rand from Saigon Joint Stock Commercial Bank over 11 years. The Van Thinh Phat chairperson was found guilty of embezzlement, bribery, and banking violations. Lan and her associates were accused of illegally controlling the bank to siphon off funds through ghost companies and bribes. Her arrest sparked rare protests, and over 42-thousand victims have been identified. The case is part of Vietnam’s ongoing anti-corruption campaign. Lan’s lawyers now have 15 days to appeal the verdict.

# Tennis: The king of clay, Rafael Nadal, has started preparations for the Barcelona Open taking place in his home city from next week. The Spaniard is struggling to regain fitness after a slew of injuries kept him on the sidelines for the most part of the past year. The 37-year-old had to withdraw from the Monte Carlo Open last week, but hopes to be ready for Barcelona. It will be part of his preparations for the French Open where he will gun for his 15th title.

# And, the financial indicators: The dollar trades at 18-rand-72-cents and the euro at 20-rand-12-cents. One British pound costs 23-rand-53-cents and Bitcoin trades at 70-thousand-688-dollars-46-cents. Gold sells at two-thousand-343-dollars-90-cents a fine ounce and Brent crude oil is quoted at 90-dollars-8-cents a barrel.

Stay tuned for more news………….